RWE: 2024 adjusted NI down to E2.32bn

(CercleFinance.com) - RWE reports adjusted net income of E2.
32bn for FY 2024, down sharply from 2023 (E4.1bn), while at the high end of its 2024 guidance range of between E1.9bn and E2.4bn.

Adjusted EPS therefore reaches E3.12, compared with E5.51 a year earlier, above guidance (E2.9).

At E5.68bn, adjusted EBITDA was also at the high end of expectations (E5.2bn to E5.8bn), while adjusted EBIT was E3.56bn (2024 forecasts: E3.2bn to E3.8bn euros).

In view of the good sales performance, RWE confirms the proposed dividend of E1.10 per share for fiscal 2024, E0.10 higher than the previous year.

For the current fiscal year, RWE forecasts adjusted EBITDA of E4.55bn to E5.15bn and adjusted net income of E1.3bn to E1.8bn.

These forecasts are based on the assumption of a normalization of margins from electricity sales and short-term optimization of power plant operations, RWE says, pointing out that the commissioning of new wind and solar farms and battery storage facilities will have a positive impact.

Finally, RWE confirms its medium- and long-term EPS targets, despite a decline in capex. The company expects to achieve adjusted EPS of around E3 in 2027. The target for 2030 remains unchanged at around E4 per share. The company aims to increase the dividend by 5% to 10% p.a. through to 2030.


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