EnBW 2022 Earnings Report – Adjusted EBITDA Results

EnBW reported FY2022 adjusted EBITDA of €3.3 billion, significantly exceeding prior-year performance and guidance despite challenging market conditions. The company outlined FY2023 guidance of €4.7-5.2 billion, representing 40-60% growth, supported by regulated grids, renewable energy contracts, and accelerated coal exit aligned with SBTi validation by 2028. EnBW's strategy positions it as a leading integrated European utility through natural hedging, long-term PPAs, and strong political backing for energy transition.