RWE: stock pretty flat after contrasted interim results

(CercleFinance.com) - The RWE share is pretty flat in Frankfurt (-0.
5% after lunch) after the energy group reported H1 2021 adjusted net income that, on the one hand, is up almost 7% to 870 million euros, whilts its adjusted EBITDA was down over 4% at 1.75 billion euros.

"The transformation of RWE is progressing swiftly. In the first half of the year we invested E1.8 billion gross in renewables, which was twice as much as in the first six months of 2020," said CEO Markus Krebber.

RWE has increased its FY target ranges, now targeting adjusted net profit of 1.05 to 1.4 billion euros and an adjusted EBITDA of 3 to 3.4 billion euros, thanks to an "exceptionally high contribution from the supply & tranding business".

However, investors see the whole picture, with the share actually down slightly today.


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