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    RWE   DE0007037129

RWE AG

(RWE)
  Report
Delayed Xetra  -  11:38:14 2023-01-26 am EST
41.86 EUR   -2.08%
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RWE CEO: optimistic power supply will remain stable during winter

12/09/2022 | 08:00pm EST

FRANKFURT, Dec 10 (Reuters) - RWE, Germany's top power producer, is fairly optimistic the country's power supply will remain stable during the winter months, its chief executive told a newspaper.

"Germany will export more electricity to France this winter than ever before," Markus Krebber told Rheinische Post, referring to the fact that the neighbouring country has taken a record number of nuclear stations offline for checks.

"The problems of the French nuclear power plants are also the reason why so many gas-fired power plants are running here. Nevertheless, I am reasonably optimistic that we will get through the winter well in terms of electricity."

Turning to gas supply, where Germany is facing the first winter without fuel from Russia in five decades, Krebber said it all came down to temperatures.

"Germany has done everything that's possible, households and industry have saved gas. And temperatures in October were so mild that storage facilities were hardly needed. But this is not an all-clear. We have no reserves at all," Krebber said,

German gas storage levels currently stand at 95.53% and Krebber said if Germany emerged from the current heating season with storage levels of 30-40% the winter of 2023/24 would not be a "bigger problem, if everything continues to be done to save gas where possible".

Krebber said it was conceivable for Russia, which invaded Ukraine earlier this year, to become a supplier again in times of peace, but added Moscow would just be one of many suppliers if such a scenario became reality.

He also ruled out interest in any of the business activities of Uniper, which is in the process of being nationalised, as well as smaller peer Steag, which is looking for a buyer, adding they would not fit with RWE's strategy. (Reporting by Christoph Steitz Editing by Mark Potter)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
RWE AG -2.08% 41.86 Delayed Quote.0.65%
UNIPER SE 1.10% 2.944 Delayed Quote.13.76%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.01% 69.5001 Delayed Quote.-3.54%
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Analyst Recommendations on RWE AG
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Financials
Sales 2022 28 843 M 31 300 M 31 300 M
Net income 2022 2 685 M 2 913 M 2 913 M
Net Debt 2022 7 809 M 8 474 M 8 474 M
P/E ratio 2022 10,6x
Yield 2022 2,16%
Capitalization 28 306 M 30 718 M 30 718 M
EV / Sales 2022 1,25x
EV / Sales 2023 1,03x
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
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Mean consensus BUY
Number of Analysts 17
Last Close Price 41,86 €
Average target price 51,60 €
Spread / Average Target 23,3%
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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