RWE: posts 'strong' results, but fails to impress investors
(CercleFinance.com) - RWE reported "strong" operating results for the first nine months of the year, as the German utility company said it weathered the coronavirus crisis well.
RWE's adjusted EBITDA rose to 2.2 billion euros as of 30 September, up 13% compared to the pro forma figure of two billion euros for the same period last year.
On the back of this performance, the energy group confirmed its earnings forecast for 2020, saying that the final key figures will probably be at the upper end of its forecast ranges.
For the record, RWE previously said it expects 2020 adjusted EBITDA to be between 2.7 billion euros and three billion euros.
The group also still intends to increase its dividend for the current fiscal year, sticking to to its planned dividend increase to 0.85 euro per share.
RWE - whose recent capital increase is intended to accelerate its growth in renewables - said that it is currently involved in over 30 projects in the promising field of hydrogen.
But investors' reaction was mild, and the shares dropped by 0.3% on Germany's blue-chip DAX index on Thursday morning..
Copyright (c) 2020 CercleFinance.com. All rights reserved.
RWE's adjusted EBITDA rose to 2.2 billion euros as of 30 September, up 13% compared to the pro forma figure of two billion euros for the same period last year.
On the back of this performance, the energy group confirmed its earnings forecast for 2020, saying that the final key figures will probably be at the upper end of its forecast ranges.
For the record, RWE previously said it expects 2020 adjusted EBITDA to be between 2.7 billion euros and three billion euros.
The group also still intends to increase its dividend for the current fiscal year, sticking to to its planned dividend increase to 0.85 euro per share.
RWE - whose recent capital increase is intended to accelerate its growth in renewables - said that it is currently involved in over 30 projects in the promising field of hydrogen.
But investors' reaction was mild, and the shares dropped by 0.3% on Germany's blue-chip DAX index on Thursday morning..
Copyright (c) 2020 CercleFinance.com. All rights reserved.