RWE AG: Ad-hoc release in accordance with Art. 17 MAR – RWE raises Group earnings forecast for fiscal 2019

Essen, 30 July 2019

In view of the business performance in the first half of 2019, the Executive Board of RWE AG has adjusted its earnings forecast for the full year:

The Supply & Trading division, which due to a strong trading performance achieved an exceptionally high adjusted EBITDA preliminary slightly above €400 million in the first six months, is also expected to end the full year significantly above €300 million. The original forecast published in March 2019 envisaged a range of €100 million to €300 million.

We continue to anticipate that European Power will post earnings at the lower end of the range of €250 million to €350 million.

On the back of unchanged earnings forecasts for the Lignite & Nuclear division (€300 million to €400 million) and innogy – continuing operations (€800 million to €900 million), the Executive Board now anticipates that the RWE Group (applying IFRS consolidation principles) will achieve adjusted EBITDA of €1.6 billion to €1.9 billion. A range of €1.4 billion to €1.7 billion had been forecast previously.

For planning purposes, RWE management uses adjusted figures that do not conform with IFRS consolidation principles, in which innogy is recognised as a purely financial investment under ‘other financial assets’ (‘RWE stand-alone’). Detailed information on the calculation of these figures can be found on page 58 of the 2018 Annual Report. According to the principles described above, management now anticipates adjusted EBITDA of €1.4 billion to €1.7 billion (previously €1.2 billion to €1.5 billion) and adjusted net income of €0.5 billion to €0.8 billion (previously €0.3 billion to €0.6 billion).

RWE will publish its interim report for the first half of 2019 on 14 August 2019.

Disclosed by Dr Ulrich Rust, General Counsel