RWE ‘back on track’ after reorganisation

EPA/SASCHA STEINBACH

A general view of the corporate headquarters of the German electric utilities company RWE, Essen, Germany, March 14, 2017.

Company forecasts a range of €5.4 billion to €5.7 billion for adjusted EBITDA


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German energy company RWE AG is “back on track” after reorganising the business last year, “which has enabled us to return to reliable planning while giving us room to manoeuvre when taking entrepreneurial action,” RWE CEO Rolf Martin Schmitz said.

“The security and reliability of energy supply are becoming increasingly important to the success of the energy transition. We are adapting our strategy to this, evolving from an electricity producer into a provider of secured capacity. In doing so, we will make sure our current business remains powerful, continue to develop RWE in areas linked to its core business and work on solutions today for the security of the energy system of tomorrow,” he said.

RWE starts fiscal 2017 with a positive outlook. The company forecasts a range of €5.4 billion to €5.7 billion for adjusted EBITDA; in 2016 this figure stood at €5.4 billion. Adjusted net income of between €1.0 billion and €1.3 billion is anticipated after €0.8 billion last year. Earnings from conventional power generation will be significantly lower than last year, owing to the continuous decline in margins. However, earnings achieved by RWE Supply & Trading GmbH and innogy SE should record a significant and slight improvement over 2016, respectively.

 

 

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