|Bid||84.80 x 10000|
|Ask||87.40 x 10000|
|Day's Range||84.60 - 86.40|
|52 Week Range||65.00 - 102.00|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 11, 2023|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
EnBW Energie Baden-Württemberg's (ETR:EBK) stock up by 4.2% over the past three months. Given its impressive...
FRANKFURT (Reuters) -German utility EnBW has sold around a quarter of its high-voltage transmission grid TransnetBW to a savings banks-led consortium for around 1 billion euros ($1.1 billion), the group said on Friday. Shares in EnBW rose 1.6%. The buyer of the 24.95% stake is Suedwest Konsortium Holding GmbH, led by the SV Sparkassen Versicherung, and includes more than 30 banks, insurance firms and companies in the German state of Baden-Wuerttemberg, the firm said.
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German utility EnBW on Thursday said its core profit likely more than doubled to 2.8 billion euros ($3.1 billion) in the first quarter, citing gains on derivative positions as a result of a steep decline in energy prices. First-quarter adjusted net profit likely rose to 2.3 billion euros from 0.6 billion last year, according to preliminary figures, EnBW said.
EnBW is reviewing its strategy and portfolio, Chief Executive Andreas Schell, who has been leading the German utility for about half a year, said on Wednesday. The company wants to use this year to set the course of EnBW in the time after the phase out of nuclear power and coal, Schell told shareholders in a speech held at the group's annual general meeting. "To this end, we launched the 'EnBW 2030' strategy process a few weeks ago," he said, adding that the group planned gross investments of 14 billion euros ($15.4 billion) by 2025.
EnBW is reviewing binding bids for two minority stakes in its high-voltage power transmission grid TransnetBW, it said on Wednesday, as part of a deal that sources said could value the business at more than 2 billion euros ($2.2 billion). EnBW, in a written statement, said the deadline for binding bids had expired April 21. The company last year said it had put up for sale two separate minority stakes of 24.95% in TransnetBW and state-lender KfW a pre-emptive right to buy in.
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German utility EnBW on Tuesday said it will double its annual purchasing pledge to 6 billion cubic metres (bcm) of liquefied natural gas (LNG) from a terminal planned at the Elbe river port of Stade. A final investment decision for Stade's Hanseatic Energy Hub (HEH) is due in mid-2023. "LNG is important for increasing the gas supply in Germany in the interim the time towards the energy transition and to build the bridge to green energy supply," EnBW said in a statement.
EnBW Energie Baden-Württemberg ( ETR:EBK ) Full Year 2022 Results Key Financial Results Net income: €1.74b (up 379...
Germany, which seeks to cut its reliance on fossil fuel, in November raised its national renewable energy target to 80% of power generation by 2030, and aims to accelerate onshore wind installations to over 12 gigawatt (GW) per year by 2025. "We are delighted to be working together with a strong partner like Equinor and combining the individual strengths of the two companies to develop German offshore wind," said Michael Class, EnBW's head of renewables portfolio development.
FRANKFURT/BERLIN (Reuters) -German state lender KfW is in advanced talks to take a minority stake in the high-voltage power grid owned by EnBW, three people familiar with the matter said, in a sign that Berlin is tightening its grip on energy assets. KfW intends to exercise its pre-emptive right to take one of two 24.95% stakes in TransnetBW that EnBW has put up for sale and thereby squeeze out the bidder that has made the lowest offer in an official ongoing auction, the people said. Shares in EnBW rose 5.5% after the news to end the day at their highest level in five weeks.
The owners of German gas trader VNG on Thursday agreed to inject 850 million euros ($905 million) of fresh equity in a bid to further stabilise the firm following the halt of Russian gas supplies, majority owner EnBW said. In a first step, EnBW and OEW, which jointly own 78.4% of VNG, will pay in their share in proportion to their ownership. The third co-owner, VUB, has until May 31 to exercise its subscription rights, which would move to EnBW and OEW should it decide not to, EnBW said in a statement.
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Chinese electric vehicle maker Nio will install swapping stations, where drivers can switch their car battery for a fully-charged one, at 20 charging parks in Germany owned by utility EnBW, the utility provider said on Thursday. Nio launched in Germany in October on a leasing model, with users leasing cars with a 75 gigawatt hour battery for 1,199-1,295 euros ($1,171-$1,264) a month depending on the length of the subscription, which can be as short as a month. The carmaker, which is aiming for 120 swapping stations in Europe by the end of 2023, opened its first swapping station in Germany in late September in Zusmarshausen in collaboration with charging operator Sortimo and mobility technology company TSG.
VNG, one of Germany’s biggest importers of Russian natural gas, has withdrawn its request for state stabilisation measures, the economy ministry and parent company EnBW said on Friday, noting that they had reached a deal to secure the company's liquidity. VNG had asked the government for state aid in September to stay afloat after it was hit by a sharp drop in Russian gas deliveries, forcing it to fill the gap in the spot market at much higher prices. The crisis led larger rival Uniper to seek a deal with the German government for full nationalisation.
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Struggling gas trader VNG and Berlin continue to be in constructive talks about compensation in light of halted Russian gas supplies but are not discussing a state aid package worth several billions of euros, VNG's parent EnBW said. Reuters on Monday reported that VNG, which applied for state aid in September was nearing a rescue package possibly worth a mid single-digit billion euro amount, citing people familiar with the matter. "Various measures are being discussed, although neither nationalisation nor state aid amounting to a mid-single-digit billion euro sum are currently being discussed," EnBW said in an e-mailed statement.
FRANKFURT/DUESSELDORF (Reuters) -EnBW and Berlin are finalising a deal to compensate the utility's VNG unit for billions of euros in losses caused by the halt of Russian gas supplies, its CFO said, ruling out the government taking an equity stake as part of the agreement. Thomas Kusterer, speaking to reporters after presenting EnBW's nine-month results, said a solution was likely within days, not weeks, and that the company expected a negative impact of 1.2 billion euros ($1.23 billion) in 2022 as a result. VNG, of which EnBW owns 74%, is one of Germany's biggest gas importers.
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German utility EnBW on Tuesday said it would raise retail gas prices by more than a third from December due to higher procurement costs, raising the bill for a typical four-person household by an additional 768 euros ($745) per year. From Dec. 1, 2022, prices will rise by an average 38% to 13.54 euro cents per kilowatt hour (kWh), the company said, around three months after the latest increase became effective. "As a result of the war of aggression on Ukraine, the energy markets have been experiencing unprecedented price increases and permanently high price levels in recent months," EnBW said.
FRANKFURT (Reuters) -German utility EnBW said a settlement between its VNG subsidiary and gas supplier Sefe, formerly known as Gazprom Germania, over insufficient gas supplies from Russia meant that the burden on full-year earnings was much less than feared. The negative earnings impact for 2022 will likely be below 1.3 billion euros ($1.3 billion), an upper limit mentioned in its second-quarter report, but above 545 million euros, EnBW said in a statement on Monday. Germany is scrambling for gas after Russia cut supplies to Europe, ending the country's longstanding energy relationship with Moscow, which once supplied most of the gas to Europe's top economy.
German utility EnBW and Fluence Energy on Wednesday unveiled a cooperation under which the U.S. energy group will supply a 250 megawatt battery-based storage system that will strengthen network stability in Europe's top economy. Fluence will supply the storage system, to be completed in 2025, to EnBW's grid division TransnetBW, enabling the reduction of operating costs and network interventions as well as lowering the need for traditional network reinforcement. The project comes as Germany is trying to cope with a major energy crisis following the complete halt of gas deliveries by former main supplier Russia, raising concerns over whether security of supply can be guaranteed during the winter months.
German utility EnBW on Friday said it had given state lender KfW a pre-emptive right to buy a 24.95% stake in power grid subsidiary TransnetBW as it seeks to upgrade the network to help reach climate goals. While acknowledging the need for major investment to ready the grid https://www.reuters.com/markets/europe/enbw-says-it-is-pressing-ahead-with-planned-sale-transnetbw-2022-08-13/#:~:text=FRANKFURT%2C%20Aug%2013%20(Reuters),savings%20banks%20was%20among%20bidders for increased amounts of renewable power, Germany is keen to retain some control over energy infrastructure, especially in the light of supply disruptions caused by the war in Ukraine. As part of the planned transaction, EnBW is offering two separate minority stakes of 24.95% each via an intermediate entity that is yet to be established, to be sold via an auction process.
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German's EnBW said on Saturday it is pressing ahead with the planned sale of high-voltage power transmission network TransnetBW, as a media report said a Stuttgart insurance company representing Baden Wuerttemberg state savings banks was among bidders. EnBW said in February it was looking into the sale of a 49.9% stake in TransnetBW to a long-term investment partner, with view to taking a decision on whether to go ahead with the move in 2022. The spokesperson would not comment on whether Stuttgarter SV Sparkassenversicherung, which the Boersenzeitung paper had named in the context, is among the bidders.