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German EnBW's 9-month profit drops due to wind conditions, pricing

Reuters
·1-min read
A logo of German power supplier EnBW Energie Baden-Wuertemberg AG is pictured at the companies headquarters in Karlsruhe

BERLIN (Reuters) - EnBW, Germany's third-largest listed energy firm, said on Friday its nine-month core earnings declined 4.4% due to poor wind conditions and pricing effects that should phase out by the end of the year.

EnBW said its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the first nine months of 2021 came in at 1.97 billion euros ($2.25 billion) compared to 2.06 billion euros in the same period last year.

The company, however, confirmed its full-year guidance for adjusted EBITDA growth by 2-7% and said coronavirus pandemic has had no impact on its operating business between January and September.

($1 = 0.8740 euros)

(Reporting by Zuzanna Szymanska; Editing by Riham Alkousaa)