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    RWE   DE0007037129

RWE AG

(RWE)
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Real-time Estimate Tradegate  -  02:02 2022-12-01 am EST
42.60 EUR   +1.43%
11/30Strikes, protests in Europe over cost of living and pay
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11/29Qatar minister sees no upper limit to LNG deliveries to Germany: Bild
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Germany's RWE buys Con Edison renewable portfolio for $6.8 billion

10/01/2022 | 03:26pm EST

BERLIN, Oct 1 (Reuters) - German energy utility RWE said on Saturday it would buy Con Edison's Clean Energy Businesses subsidiary in a transaction valuing the unit at $6.8 billion.

RWE said the acquisition would add some $600 million in earnings before interest, tax, depreciation and amortisation (EBITDA) to its results annually.

It would also double RWE's renewables portfolio in the United States to more than 7 gigawatts in operating assets, and boost its project pipeline there to more than 24 GW in onshore wind, solar and batteries.

RWE said the transaction would be financed by issuing a 2.4 billion euro ($2.35 billion) mandatory convertible bond to a subsidiary of the Qatar Investment Authority.

This would eventually turn into shares representing slightly less than 10% of RWE's share capital. Its plans for a dividend of 0.90 euros a share remained unchanged, RWE added. ($1 = 1.0205 euros) (Reporting by Thomas Escritt; Editing by Alexander Smith)


© Reuters 2022
All news about RWE AG
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Analyst Recommendations on RWE AG
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Financials
Sales 2022 28 658 M 29 554 M 29 554 M
Net income 2022 2 581 M 2 662 M 2 662 M
Net Debt 2022 6 795 M 7 008 M 7 008 M
P/E ratio 2022 11,1x
Yield 2022 2,17%
Capitalization 28 401 M 29 289 M 29 289 M
EV / Sales 2022 1,23x
EV / Sales 2023 1,12x
Nbr of Employees 18 382
Free-Float 92,9%
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Technical analysis trends RWE AG
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 17
Last Close Price 42,00 €
Average target price 51,25 €
Spread / Average Target 22,0%
EPS Revisions
Managers and Directors
Markus Krebber Chief Executive Officer
Michael Müller Chief Financial Officer
Werner Brandt Chairman-Supervisory Board
Dagmar Mühlenfeld Member-Supervisory Board
Ullrich Sierau Member-Supervisory Board
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