RWE's Q1 earnings rises by 65% to €1.46 billion

Thursday, 12. May 2022 07:06

RWE AG revealed on Thursday that its earnings before interest, taxes, depreciation, and amortization (EBITDA) in the first quarter of the fiscal year 2022 increased by 65% on an annual level to stand at €1.46 billion.

The company also scored a net income of €735 million, which is 116% more than in the same trimester in 2021. Meanwhile, its basic and diluted earnings per share (EPS) surged by 142% to reach €3.2 per share.

"The impact of the war in Ukraine has presented the energy markets with enormous challenges. [...] At RWE, we are helping the German federal government to become independent of Russian gas – in the short term by building capacities for liquefied natural gas, and in the medium and long term by driving the expansion of renewables and ramping up the hydrogen economy," RWE's Chief Executive Officer (CEO) Michael Mueller said.

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Author:
Baha Breaking News (BBN) / JR