EnBW posts first-half profit drop on coal phase-out, lower river levels

EnBW Reports Lower First-Half Profits Amid Coal Phase-Out and Water Level Drops

EnBW’s First-Half 2024 Financial Performance Overview

FRANKFURT, Aug 7 (Reuters) - German utility EnBW on Friday reported a decline in first-half profits, citing the phase-out of coal fired power plants as well as lower river levels that impacted at the group's hydroelectric stations.

Key Financial Highlights

Adjusted Core Profit

• First-half adjusted core profit falls 6.3% to €2.27 billion.

Group Net Profit

• First-half adjusted group net profit decreases by 5.9% to €595 million.

Full-Year Profit Outlook

• The group still expects adjusted core profit in a range of €4.6 billion to €5.1 billion for the year.

Investment Activity

• Gross investments stood at €2.4 billion in the first half.

Reporting and Editorial

(Reporting by Christoph SteitzEditing by Linda Pasquini)