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MarketScreener Homepage  >  Equities  >  Xetra  >  RWE AG    RWE   DE0007037129

RWE AG

(RWE)
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RWE 1st Half Net Profit Rose on Strong Trading Performance; Backs 2019 Outlook

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08/14/2019 | 02:05am EDT

By Patrick Costello

RWE AG (RWE.XE) said Wednesday that its adjusted net income rose sharply in the first half of 2019, and backed its 2019 outlook.

The German energy company said its standalone adjusted net income--which excludes the operations of its Innogy subsidiary--amounted to 914 million euros ($1.02 billion) for the first six months of 2019, up nearly 34% from EUR683 million last year, primarily driven by a strong trading performance.

Standalone adjusted earnings before interest, taxes, depreciation and amortization was up roughly 20% in the first half at EUR1.37 billion from EUR1.14 billion last year, it said.

Net income including operations from Innogy rose to EUR830 million in the first half, while adjusted Ebitda including Innogy rose to EUR1.13 billion, RWE said.

Group revenue rose to EUR6.97 billion from EUR6.69 billion, it said.

RWE said its supply-and-trading segment generated an adjusted Ebitda of EUR434 million, up from EUR101 million last year due to a strong trading performance as well as "large contributions" from its gas and LNG business.

RWE backed its 2019 outlook, including an adjusted Ebitda for the year between EUR1.6 billion to EUR1.9 billion

The company said it expects to complete the sale of its renewables division Innogy to Germany's E.ON in September.

Write to Patrick Costello at patrick.costello@dowjones.com.

Stocks mentioned in the article
ChangeLast1st jan.
INNOGY SE -0.60% 44.5 Delayed Quote.9.26%
RWE AG 2.92% 28.19 Delayed Quote.48.64%
WTI -0.58% 58.45 Delayed Quote.27.93%
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Financials (EUR)
Sales 2019 12 834 M
EBIT 2019 1 084 M
Net income 2019 768 M
Debt 2019 3 956 M
Yield 2019 2,84%
P/E ratio 2019 25,0x
P/E ratio 2020 15,3x
EV / Sales2019 1,57x
EV / Sales2020 1,06x
Capitalization 16 230 M
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Technical analysis trends RWE AG
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 27,00  €
Last Close Price 28,16  €
Spread / Highest target 24,3%
Spread / Average Target -4,13%
Spread / Lowest Target -29,0%
EPS Revisions
Managers
NameTitle
Rolf Martin Schmitz Chief Executive Officer
Werner Brandt Chairman-Supervisory Board
Markus Krebber Chief Financial Officer
Frank-Detlef Drake VP, Head-Corporate Research & Development
Frank Bsirske Deputy Chairman-Supervisory Board
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