German utility EnBW has increased its profits by one third in the first quarter 2018 compared to the same period last year, the company said in a press release. EnBW made 687 million euros in profits between January and March, with all business segments increasing their earnings compared to the year before, CFO Thomas Kusterer said. However, earnings per share declined sharply, by nearly two thirds. Profits in EnBW’s renewable energy business grew by over 20 percent to 95 million euros thanks to a large number of onshore wind power turbines going online and the high productivity of EnBW’s hydropower plants.
See the press release in English here.
Find background in the dossier Utilities and the energy transition.