* EBITDA down 5.3 pct in 2013, could fall another 5 pct 2014
* EnBW tries to stem decline by refocusing on renewable
power, energy services
(Adds further details, background)
By Vera Eckert
FRANKFURT, March 7 EnBW, Germany's
third-biggest power utility, reported a 5.3 percent drop in
underlying profits on Friday and warned of a similar possible
fall this year as its conventional plants struggle to compete
with subsidised renewable power.
The group said its adjusted earnings before interest, tax,
depreciation and amortisation (EBITDA) fell to 2.22 billion
euros ($3.07 billion) in 2013 and could decline further, by up
to 5 percent, in 2014.
Like bigger rivals E.ON and RWE, EnBW
has been hit by low wholesale power prices, pushed down by
renewable output from solar and wind generation and
biomass-fuelled thermal plants, as well as relatively weak
It is trying to adapt to Germany's wholesale transformation
of its power industry by selling various assets worth up to 2.7
billion euros and expanding instead in renewable power and in
providing energy services.
EnBW said that this year it will increase its target for
installing new onshore wind turbine capacity to 1,000 megawatts
(MW) in Germany, and has recently signed a contract for 207 MW
of capacity in Turkey.
It also aims to gradually bring onstream its German offshore
wind park Baltic 2 in the Baltic Sea and will start up its long-
planned new hard coal-fired plant in Karlsruhe, RDK 8, with 874
MW of generating capacity, later this year.
Meanwhile EnBW is still embroiled in a row with the German
energy industry regulator over whether it may or may not shut
down five older unprofitable oil, gas and coal-fired plants
totalling a 688 MW of capacity and has said it wishes to close
two more with a combined 250 MW of capacity.
Bigger sector peer RWE on Tuesday posted its first loss in
over six decades, also reflecting the deep crisis facing the
(Additional reporting by Christoph Steitz; Editing by Greg