Better energy for a better future

We presented our Growing Green strategy at the Capital Markets Day in November 2023. In this context, we announced that we would make net investments (after deducting divestments) of about €55 billion in the expansion of our electricity generation, storage and electrolysis capacities during the seven-year period from 2024 to 2030. We have made good progress in rolling out Growing Green. Last year, our net capital expenditure totalled €10 billion – the highest level in 15 years. However, we also witnessed the framework conditions in the energy sector becoming less certain. For instance, it is unclear what course the US administration will chart for the expansion of wind energy. As a rule, we only invest under favourable economic and regulatory conditions. Otherwise, we spend funds in areas with a better risk-return ratio. One example of this is our share buyback programme, which we launched in November 2024 (see page 39). We now plan to make total net investments amounting to €35 billion in the six years from 2025 to 2030. This is about a quarter less than the sum we had originally envisaged for this period. Despite the lower capital expenditure, we still expect to be able to achieve an adjusted net income per share of about €3 in 2027. The target for 2030 remains in the order of €4 per share.

More information on the individual components of our growth programme can be found here:

A diverse and inclusive corporate culture is important to our growth. Diversity has many facets, one of which is gender equality when filling leadership roles within our company. This is why we have set ourselves the target of increasing the share of women in management positions in our core business by 2030.