# BKW

Summary updated: 2026-10-04T15:35:05.990562Z
Canonical: https://finbar.com/research/companies/bkw

## Overview

BKW is a Swiss-headquartered international energy and infrastructure group operating across energy production and supply, power grids, and infrastructure and buildings. Its services span energy generation and markets; the operation, maintenance and development of distribution grids; and the planning, delivery and maintenance of infrastructure and building projects, including energy-efficient building solutions [1](https://www.bkw.ch/en/about-us/the-bkw-group)[2](https://app.finbar.com/go?id=P103323162)[3](https://app.finbar.com/go?id=P3413110). BKW describes its vision as “Solutions for a future worth living” and its mission as planning, building, operating and maintaining solutions in energy, grids, infrastructure and buildings [4](https://www.bkw.ch/en/about-us/strategy-and-values).

The group’s corporate profile reports operations in 11 countries and more than 12,500 employees [1](https://www.bkw.ch/en/about-us/the-bkw-group). In FY2025, BKW reported CHF 4.54 billion in total operating income and 12,618 employees at year-end [5](https://app.finbar.com/go?id=T10950986)[6](https://app.finbar.com/go?id=T3459921)[7](https://app.finbar.com/go?id=T2573509).
[1](https://www.bkw.ch/en/about-us/the-bkw-group)[2](https://app.finbar.com/go?id=P103323162)[3](https://app.finbar.com/go?id=P3413110)[4](https://www.bkw.ch/en/about-us/strategy-and-values)[5](https://app.finbar.com/go?id=T10950986)[6](https://app.finbar.com/go?id=T3459921)[7](https://app.finbar.com/go?id=T2573509)[1](https://www.bkw.ch/en/about-us/the-bkw-group)[4](https://www.bkw.ch/en/about-us/strategy-and-values)

## Products & services

BKW’s energy products and services include electricity and heat supply, wholesale trading in electricity, energy certificates and raw materials, and energy-related services. Its generation portfolio includes hydropower, wind, solar, biomass, nuclear, gas and coal-fired generation. BKW is also developing, investing in and operating large-scale battery storage, with planned systems in the approximately 50–300 MW range to support grid stability and balance variable renewable generation. [8](https://app.finbar.com/go?id=P29693545)[9](https://app.finbar.com/go?id=P30121378) For business customers, named electricity-procurement products include Energy Relax, a fixed-price supply offer with pricing available up to five years ahead; Energy Relax Flex, with spot-linked costs and quarterly procurement-model changes; and Energy Balance, which combines forward-market hedging with an open spot-market share. [10](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-relax)[11](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-relax-flex)[12](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-balance)

BKW’s building-services offerings cover heating and heat pumps, ventilation, air conditioning and cooling, plumbing, solar, building automation, electromobility and ICT. Services extend from planning and installation for new builds, renovations and refurbishment to maintenance; its solar offer also includes photovoltaic contracting that can cover financing, operation and maintenance. [13](https://www.bkw.ch/en/about-us/building-solutions)[14](https://www.bkw.ch/en/building/building-technology)[15](https://www.bkw.ch/en/energy/energy-generation/solar-power/translate-to-bkwch-en-solaranlagen-fuer-private-und-unternehmen) Its infrastructure and engineering services include grid planning, water and environmental work, surveying and geoinformatics, geotechnical and structural engineering, assessments and audits, as well as construction and operation of grid and systems, data and telecom, traffic engineering, municipal water, lighting and power plants. [16](https://www.bkw.ch/en/infrastructure/engineering-services)[17](https://www.bkw.ch/en/infrastructure/construction-and-operation)

BKW also operates and develops a Swiss electricity distribution grid, providing control-centre operations and grid maintenance, renewal and expansion. [2](https://app.finbar.com/go?id=P103323162) In 2025, its Infrastructure & Buildings segment reported revenue of CHF 1,975.3 million and EBIT of CHF 80.0 million; available figures do not establish a comparable percentage revenue split among individual products and services. [18](https://app.finbar.com/go?id=P1690184)
[8](https://app.finbar.com/go?id=P29693545)[9](https://app.finbar.com/go?id=P30121378)[10](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-relax)[11](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-relax-flex)[12](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-balance)[13](https://www.bkw.ch/en/about-us/building-solutions)[14](https://www.bkw.ch/en/building/building-technology)[15](https://www.bkw.ch/en/energy/energy-generation/solar-power/translate-to-bkwch-en-solaranlagen-fuer-private-und-unternehmen)[16](https://www.bkw.ch/en/infrastructure/engineering-services)[17](https://www.bkw.ch/en/infrastructure/construction-and-operation)[2](https://app.finbar.com/go?id=P103323162)[18](https://app.finbar.com/go?id=P1690184)[10](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-relax)[11](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-relax-flex)[12](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-balance)[13](https://www.bkw.ch/en/about-us/building-solutions)[14](https://www.bkw.ch/en/building/building-technology)[15](https://www.bkw.ch/en/energy/energy-generation/solar-power/translate-to-bkwch-en-solaranlagen-fuer-private-und-unternehmen)[16](https://www.bkw.ch/en/infrastructure/engineering-services)[17](https://www.bkw.ch/en/infrastructure/construction-and-operation)

## Geographic presence

BKW’s geographic center is Switzerland, with Germany its second-largest market. In FY2025, net sales were CHF 4,201.2 million: CHF 2,700.2 million in Switzerland (64.3%), CHF 912.7 million in Germany (21.7%), CHF 162.7 million in Italy (3.9%), CHF 109.2 million in France (2.6%) and CHF 316.3 million in other countries (7.5%). Percentages are calculated from the reported country amounts and total. [19](https://app.finbar.com/go?id=T6885828) At year-end 2025, BKW had 12,618 employees: 8,118 in Switzerland, 3,948 in Germany and 552 in other countries. The company reports staff-bearing branches in 11 countries. [20](https://app.finbar.com/go?id=T2979399)[21](https://app.finbar.com/go?id=P18155202)[22](https://app.finbar.com/go?id=P63312890)

BKW reports more than 300 locations across its group. [1](https://www.bkw.ch/en/about-us/the-bkw-group) Its wind-power operations include Switzerland, Germany, France, Italy, Norway and Sweden. [23](https://www.bkw.ch/en/energy/energy-generation/wind-power) The company’s contact listings include locations in Wangen and Bern in Switzerland, and Radebeul and Berlin in Germany. [24](https://www.bkw.ch/en/contact)
[19](https://app.finbar.com/go?id=T6885828)[20](https://app.finbar.com/go?id=T2979399)[21](https://app.finbar.com/go?id=P18155202)[22](https://app.finbar.com/go?id=P63312890)[1](https://www.bkw.ch/en/about-us/the-bkw-group)[23](https://www.bkw.ch/en/energy/energy-generation/wind-power)[24](https://www.bkw.ch/en/contact)

## Business segments

BKW reports three operating segments. **Energy Solutions** covers energy sales to end customers and distribution partners, wholesale trading, and power generation and feed-in, including hydro, wind and solar. Its 2025 external net sales were CHF 1,759.6 million, about **42%** of consolidated net sales. [8](https://app.finbar.com/go?id=P29693545)[9](https://app.finbar.com/go?id=P30121378)[6](https://app.finbar.com/go?id=T3459921)

**Power Grid** covers the operation, maintenance, renewal and expansion of the Swiss distribution grid, as well as basic energy supply. Its 2025 external net sales were CHF 549.4 million, about **13%** of consolidated net sales. [2](https://app.finbar.com/go?id=P103323162)[25](https://app.finbar.com/go?id=P19703034)[26](https://app.finbar.com/go?id=P42324670)[6](https://app.finbar.com/go?id=T3459921)

**Infrastructure & Buildings** provides planning, project management and implementation services for energy- and resource-efficient buildings and infrastructure, including energy infrastructure and mobility. It generated CHF 1,892.0 million of external net sales in 2025, about **45%** of the consolidated total. Percentages are approximate shares of 2025 consolidated net sales of CHF 4,201.2 million. [27](https://app.finbar.com/go?id=P56380191)[6](https://app.finbar.com/go?id=T3459921) BKW also describes sub-business areas: Building Solutions, Engineering and Infra Services within Infrastructure & Buildings; Energy Markets and Energy Production within Energy Solutions; and Power Grid as its own business area. [28](https://app.finbar.com/go?id=P66169220)
[8](https://app.finbar.com/go?id=P29693545)[9](https://app.finbar.com/go?id=P30121378)[6](https://app.finbar.com/go?id=T3459921)[6](https://app.finbar.com/go?id=T3459921)[2](https://app.finbar.com/go?id=P103323162)[25](https://app.finbar.com/go?id=P19703034)[26](https://app.finbar.com/go?id=P42324670)[6](https://app.finbar.com/go?id=T3459921)[27](https://app.finbar.com/go?id=P56380191)[6](https://app.finbar.com/go?id=T3459921)[28](https://app.finbar.com/go?id=P66169220)

## Company history

BKW traces its origins to Elektrizitätswerk Hagneck, founded in 1898; the company adopted the BKW name in 1909. It built the Mühleberg hydroelectric plant in the early 20th century, and the Mühleberg nuclear power plant began commercial operation in 1972. [29](https://www.bkw.ch/de/ueber-uns/die-bkw-gruppe/125-jahre-125-fragen/die-pionierin/wie-entstand-die-bkw) [30](https://www.bkw.ch/de/ueber-uns/die-bkw-gruppe/125-jahre-125-fragen/die-pionierin/was-hat-die-bkw-mit-elektrolastwagen-von-1920-zu-tun) [31](https://www.bkw.ch/de/ueber-uns/aktuell/medien/medienmitteilungen/kernkraftwerk-muehleberg-5) BKW shares began trading on the SWX Swiss Exchange in 2003. In the following decade, the company expanded renewable generation through wind and hydropower acquisitions, including wind farms in Germany and small hydro plants in Italy. [32](https://www.bkw.ch/en/about-us/news/media/press-releases/bkw-listing-on-the-swiss-exchange-swx) [33](https://www.bkw.ch/en/about-us/news/media/press-releases/acquisition-of-two-wind-farms-in-germany) [34](https://www.bkw.ch/en/about-us/news/media/press-releases/further-strengthening-of-commitment-to-hydro-power-segment)

From 2014, BKW accelerated its expansion into engineering, building technology and infrastructure services through a series of acquisitions, describing its evolution by 2018 as a transformation into an energy and infrastructure service provider. [35](https://www.bkw.ch/en/about-us/news/media/press-releases/bkw-once-again-posts-convincingly-strong-results) [36](https://www.bkw.ch/en/about-us/news/media/press-releases/successful-transformation-of-bkw) It permanently shut down the Mühleberg nuclear plant in December 2019, after 47 years of operation. [37](https://www.bkw.ch/en/about-us/news/media/press-releases/muehleberg-nuclear-power-plant-ceases-operations) After Suzanne Thoma’s departure as CEO in 2022, Robert Itschner took over the role that October. [38](https://www.bkw.ch/en/about-us/news/media/press-releases/management-change-at-bkw) In 2024, BKW announced its “Solutions 2030” strategy, setting out a new strategic framework for the group. [39](https://www.bkw.ch/en/about-us/news/media/press-releases/bkws-solutions-2030-strategy-addresses-needs-of-new-energy-world)
[40](https://app.finbar.com/go?id=P100976390)[29](https://www.bkw.ch/de/ueber-uns/die-bkw-gruppe/125-jahre-125-fragen/die-pionierin/wie-entstand-die-bkw)[30](https://www.bkw.ch/de/ueber-uns/die-bkw-gruppe/125-jahre-125-fragen/die-pionierin/was-hat-die-bkw-mit-elektrolastwagen-von-1920-zu-tun)[31](https://www.bkw.ch/de/ueber-uns/aktuell/medien/medienmitteilungen/kernkraftwerk-muehleberg-5)[32](https://www.bkw.ch/en/about-us/news/media/press-releases/bkw-listing-on-the-swiss-exchange-swx)[33](https://www.bkw.ch/en/about-us/news/media/press-releases/acquisition-of-two-wind-farms-in-germany)[34](https://www.bkw.ch/en/about-us/news/media/press-releases/further-strengthening-of-commitment-to-hydro-power-segment)[35](https://www.bkw.ch/en/about-us/news/media/press-releases/bkw-once-again-posts-convincingly-strong-results)[36](https://www.bkw.ch/en/about-us/news/media/press-releases/successful-transformation-of-bkw)[37](https://www.bkw.ch/en/about-us/news/media/press-releases/muehleberg-nuclear-power-plant-ceases-operations)[38](https://www.bkw.ch/en/about-us/news/media/press-releases/management-change-at-bkw)[39](https://www.bkw.ch/en/about-us/news/media/press-releases/bkws-solutions-2030-strategy-addresses-needs-of-new-energy-world)

## Sources

1. [www.bkw.ch](https://www.bkw.ch/en/about-us/the-bkw-group)
2. [BKW — Full financial report (2025 Y), p229](https://app.finbar.com/go?id=P103323162)
3. [BKW — Full financial report (2025 Y), p9](https://app.finbar.com/go?id=P3413110)
4. [www.bkw.ch](https://www.bkw.ch/en/about-us/strategy-and-values)
5. [BKW — Full financial report (2025 Y), p21](https://app.finbar.com/go?id=T10950986)
6. [BKW — Full financial report (2025 Y), p42](https://app.finbar.com/go?id=T3459921)
7. [BKW — Full financial report (2025 Y), p208](https://app.finbar.com/go?id=T2573509)
8. [BKW — Full financial report (2025 Y), p44](https://app.finbar.com/go?id=P29693545)
9. [BKW — Full financial report (2025 Y), p230](https://app.finbar.com/go?id=P30121378)
10. [www.bkw.ch](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-relax)
11. [www.bkw.ch](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-relax-flex)
12. [www.bkw.ch](https://www.bkw.ch/en/energy/translate-to-bkwch-en-energiebeschaffung-fuer-geschaeftskundinnen-und-geschaeftskunden/energy-balance)
13. [www.bkw.ch](https://www.bkw.ch/en/about-us/building-solutions)
14. [www.bkw.ch](https://www.bkw.ch/en/building/building-technology)
15. [www.bkw.ch](https://www.bkw.ch/en/energy/energy-generation/solar-power/translate-to-bkwch-en-solaranlagen-fuer-private-und-unternehmen)
16. [www.bkw.ch](https://www.bkw.ch/en/infrastructure/engineering-services)
17. [www.bkw.ch](https://www.bkw.ch/en/infrastructure/construction-and-operation)
18. [BKW — Full financial report (2025 Y), p26](https://app.finbar.com/go?id=P1690184)
19. [BKW — Full financial report (2025 Y), p43](https://app.finbar.com/go?id=T6885828)
20. [BKW — Full financial report (2025 Y), p207](https://app.finbar.com/go?id=T2979399)
21. [BKW — Full financial report (2025 Y), p207](https://app.finbar.com/go?id=P18155202)
22. [BKW — Full financial report (2025 Y), p143](https://app.finbar.com/go?id=P63312890)
23. [www.bkw.ch](https://www.bkw.ch/en/energy/energy-generation/wind-power)
24. [www.bkw.ch](https://www.bkw.ch/en/contact)
25. [BKW — Full financial report (2025 Y), p240](https://app.finbar.com/go?id=P19703034)
26. [BKW — Full financial report (2025 Y), p242](https://app.finbar.com/go?id=P42324670)
27. [BKW — Full financial report (2025 Y), p6](https://app.finbar.com/go?id=P56380191)
28. [BKW — Full financial report (2025 Y), p240](https://app.finbar.com/go?id=P66169220)
29. [www.bkw.ch](https://www.bkw.ch/de/ueber-uns/die-bkw-gruppe/125-jahre-125-fragen/die-pionierin/wie-entstand-die-bkw)
30. [www.bkw.ch](https://www.bkw.ch/de/ueber-uns/die-bkw-gruppe/125-jahre-125-fragen/die-pionierin/was-hat-die-bkw-mit-elektrolastwagen-von-1920-zu-tun)
31. [www.bkw.ch](https://www.bkw.ch/de/ueber-uns/aktuell/medien/medienmitteilungen/kernkraftwerk-muehleberg-5)
32. [www.bkw.ch](https://www.bkw.ch/en/about-us/news/media/press-releases/bkw-listing-on-the-swiss-exchange-swx)
33. [www.bkw.ch](https://www.bkw.ch/en/about-us/news/media/press-releases/acquisition-of-two-wind-farms-in-germany)
34. [www.bkw.ch](https://www.bkw.ch/en/about-us/news/media/press-releases/further-strengthening-of-commitment-to-hydro-power-segment)
35. [www.bkw.ch](https://www.bkw.ch/en/about-us/news/media/press-releases/bkw-once-again-posts-convincingly-strong-results)
36. [www.bkw.ch](https://www.bkw.ch/en/about-us/news/media/press-releases/successful-transformation-of-bkw)
37. [www.bkw.ch](https://www.bkw.ch/en/about-us/news/media/press-releases/muehleberg-nuclear-power-plant-ceases-operations)
38. [www.bkw.ch](https://www.bkw.ch/en/about-us/news/media/press-releases/management-change-at-bkw)
39. [www.bkw.ch](https://www.bkw.ch/en/about-us/news/media/press-releases/bkws-solutions-2030-strategy-addresses-needs-of-new-energy-world)
40. [BKW — Full financial report (2025 Y), p280](https://app.finbar.com/go?id=P100976390)

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