RWE: share buybacks and forecasts nudged up

(CercleFinance.com) - On unveiling its quarterly results, RWE announces a share buyback program worth up to E1.
5bn, scheduled to begin in Q4 2024 and set to last for up to 18 months.

While confirming its dividend target of E1.10 per share for 2024, it slightly improves its earnings forecasts for this year, due to better profit prospects in the Flexible Generation and Supply & Trading segments.

As a result, RWE now expects to reach the middle of its annual target ranges of E1.9bn-E2.4bn for adjusted net income and E5.2bn-E5.8bn for adjusted EBITDA, whereas it previously expected towards the lower end of these ranges.

For the first nine months of 2024, the German energy group posted adjusted net income of E1.6bn and adjusted EBITDA of E4bn, "down as expected" from E3.1bn and E5.7bn respectively a year earlier.


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