RWE raises outlook for fiscal 2019
- Exceptionally positive earnings trend in energy trading leads to improved earnings forecast for fiscal 2019
- Adjusted EBITDA for RWE stand-alone of between €1.4 billion and €1.7 billion expected
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 Europe’s 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.