RWE adjusted net income rises, confirms full-year outlook

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By Giulia Petroni


RWE AG on Thursday said that adjusted net income rose in the first half and confirmed the outlook lift for the full year on the back of strong earnings.

The German energy company posted adjusted net income of 1.57 billion euros ($1.61 billion), compared with EUR870 million a year earlier.

Adjusted earnings before interest, taxes, depreciation and amortization came in at EUR2.86 billion, compared with EUR1.75 billion, while adjusted Ebit was EUR2.10 billion, it said.

RWE released preliminary figures for the first half at the end of July.

The company confirmed it expects adjusted net income between EUR2.1 billion and EUR2.6 billion for the full year. Adjusted Ebitda is seen at EUR5 billion to EUR5.5 billion, while adjusted Ebit is expected to be between EUR3.4 billion and EUR3.9 billion, the company said.

The dividend target of EUR0.90 a share for 2022 remains unchanged.

In the first half, RWE said it invested around EUR2 billion in the expansion of its green portfolio. Total investments will be more than EUR5 billion by the end of the year, it said.


Write to Giulia Petroni at giulia.petroni@wsj.com


This article was originally published by Marketwatch.com. Read the original article here.

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