EnBW Energie Baden-Württemberg AG operates as one of the largest integrated energy supply companies in Germany and the rest of Europe. It operates through four segments: Sales, Grids, Renewable Energies, and Generation and Trading. It supplies electricity, gas, water and energy-related products and services to approximately 5.5 million customers. It serves both businesses and private customers. EnBW has some 20.000 employees and annual revenue in 2015 was more than €21 billion resulting in an adjusted EBITDA of some €2.2 billion.
EnBW recognised the importance of Integrated Reporting, which takes into account ecological and social dimensions as well as economic aspects, at an early stage. EnBW has been an active supporter of Integrated Reporting since the foundation of the International Integrated Reporting Council (IIRC) four years ago. This is demonstrated by the fact that EnBW board member Thomas Kusterer is also an IIRC council member and EnBW participated in the IIRC working group that developed the International <IR> framework.
The EnBW path towards Integrated Reporting has encompassed, at its heart, a company-wide project which had been set up by the EnBW board of directors to implement Integrated Reporting concepts across business units. The project was under the leadership of Christoph Dolderer (Director of Group Accounting) and Lothar Rieth (Group Expert Sustainability). This step was an important signal for a change from internal silo thinking to an integrated approach within the EnBW group.
Through the gradual introduction of Integrated Reporting, EnBW is committed to making its annual report more understandable and informative, while paying particular attention to providing better information on all relevant resources and not just financial capital. EnBW actively pursued the realignment of its corporate reporting, using the <IR> Framework with the aim of achieving a holistic representation of the performance of the company.
In its first integrated report in 2014 EnBW linked together the contents of its financial and sustainability reports, further reduced the size of the report and placed a special focus on explaining the performance of the company in a clear and comprehensible way. This represents a further milestone on EnBW’s path towards providing more concise, transparent and comprehensive reporting to meet the increased demands from stakeholders for broader information and to improve EnBW capabilities when entering into dialogue with stakeholders.
On the basis of the EnBW 2020 strategy, Integrated Reporting supports the highly integrated management of the company. By presenting financial and more than financial corporate goals – the achievement of which is measured using key performance indicators – EnBW is seeking to promote integrated thinking within the company and underline the importance of being comprehensively oriented towards its performance and stakeholders. The corporate performance of EnBW is thus not only measured by financial results, as the short- to long-term success of the company is also dependent on what decisions EnBW takes in response to the constantly changing economic, ecological and social conditions.