RWE: H1 profit down

(CercleFinance.com) - German energy group RWE has reported adjusted net profit of E1.
4bn and adjusted EBITDA of E2.9bn for H1 2024, compared to E2.4bn and E4.1bn respectively a year earlier.

It explains this decrease by the decline in profits in its flexible generation and supply & trading segments, while its profits in renewable energies increased by 20% on better weather conditions and the commissioning of new capacities.

Our electricity production from renewable energies reached a record 26 terawatt hours, or 45% of total production, and we have significantly reduced our CO2 emissions (-27%), CEO Markus Krebber said.

RWE maintains its outlook for 2024, including adjusted net profit of E1.9bn to E2.4bn and adjusted EBITDA of E5.2bn to E5.8bn, as well as its dividend target of E1.10 per share.


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