RWE at over four-year high on improved outlook

Tuesday, 30. July 2019 12:06

Essen-based energy utility RWE AG reached €25.3 per share, its strongest mark since mid-April 2015, after lifting expectations on Tuesday for the full year. The German group said it expects adjusted earnings before interest, taxes, depreciation and amortization of €1.6 billion to 1.9 billion, an improvement of €0.2 billion on both ends due to performances from the first six months. In reported terms, according to IFRS standards, the range was raised by the same sum, landing at €1.4 billion to €1.7.

Supply and trading already brought €400 million compared to the March projection of between €100 million and €300 million for entire 2019. The volatile item's projection was boosted to "significantly above" €300 million. The numbers for the European power division and the lignite and nuclear segment weren't changed. Adjusted net income at standalone RWE is seen at €0.5 billion to €0.8 billion after the same upgrade as for the other two categories.

Shares of the company previously known as Rheinisch-Westfaelisches Elektrizitaetswerk were 1.3% in the green at 11:48 am CET, changing hands for €24.8 apiece. They gained 30.77% so far this year compared to the rise of 16.23% in the benchmark DAX stock index.

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