Markus Krebber, CFO of RWE AG: “Earnings in the first six months benefited from an exceptionally strong energy trading performance, enabling us to raise the forecast for the Group for 2019. With this momentum from our operating businesses, we look forward to the fast approaching implementation of the transaction with E.ON, which will turn RWE into one of the largest renewable energy companies.”
In view of the business performance in the first half of 2019, the Executive Board of RWE AG adjusted its earnings forecast for the full year. It 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) for RWE stand-alone.
Adjusted EBITDA in the Supply & Trading segment, which at a level of slightly above €400 million (preliminary) was unusually high in the first six months thanks to a strong trading performance, will probably close the year significantly above the €300 million mark. RWE originally estimated a range of €100 million to €300 million for this very volatile business segment.
The EBITDA forecast for the other segments is unchanged. For Lignite & Nuclear a figure between €300 million and €400 million is anticipated. European Power should achieve adjusted EBITDA at the lower end of the range of €250 million to €350 million. The earnings contribution from the innogy dividend, which was received in the second quarter, amounts to €700 million.
RWE will publish its interim report for the first half of 2019 on 14 August 2019.
RWE disclaimer: Forward-looking statements
This IR release includes forward-looking statements. These statements reflect management’s current assessments, expectations and assumptions and are based on the information currently available to it. Forward-looking statements provide no assurance that future results and developments will occur and are subject to known and unknown risks and uncertainties. As a result of various factors, actual future results and developments may differ materially from the expectations and assumptions expressed herein. In particular, these factors include changes in the general economic environment and the competitive situation. Above and beyond this, developments on the financial markets, fluctuations in exchange rates, changes to national and international law – especially with regard to tax regulations – and other factors can influence the future results and performance of the Company. Neither the Company nor any of its associated companies undertake to update the statements contained in this IR release.