The transformation is paying off: The Essen-based energy group RWE is in the black, thanks to renewable energy.
The energy group RWE started the current year with a surge in profits. Mainly thanks to the expansion of capacities in the renewable energies business and the more favorable weather, the Dax group earned significantly more both operationally and on the bottom line.
Last year, the 100-year storms in Texas in particular had a negative impact on earnings. Because of the coal embargo against Russia that was imposed by Great Britain in March, RWE had to write off 850 million euros in the first quarter, as the group announced on Thursday in Essen. However, the Executive Board believes that RWE is still on track and confirmed the annual forecast that it had raised in mid-February.
In the first quarter of the current year, adjusted operating earnings before interest, taxes, depreciation and amortization (adjusted Ebitda) rose by 65 percent to 1.46 billion euros. The analysts had expected that. The bottom line is that with an adjusted net result of 735 million euros, this was more than twice as much as a year earlier. Here the experts had a little less on the slip.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
