“Theoperating result of the business unit renewable energies in 2013 likely willdecrease,” EnBW said in its first-quarter results report published today. “Onereason for that is the basis effect from the year 2012, when particularlybeneficial weather and hydro conditions prevailed, while for our 2013 planningwe assume average conditions.”

Thecompany foresees adjusted earnings before interest, taxes, depreciation andamortisation (Ebitda) falling by 10% to 20% this year in renewable energy.

AdjustedEbitda