RWE Says 2023 Earnings to Exceed Outlook
By Pierre Bertrand
RWE said that earnings for 2023 will exceed its outlook.
The German energy company said that it made 4.54 billion euros ($4.93 billion) in adjusted net income in the year, compared with its outlook range of EUR3.3 billion to EUR3.8 billion.
Adjusted earnings before interest, taxes, depreciation and amortization came to EUR8.38 billion, compared with guidance of EUR7.1 billion to EUR7.7 billion.
RWE said the result reflected the better-than-expected performance of its hydro, biomass and gas segment as well as in the supply and trading business in the fourth quarter of the year.
RWE said adjusted earnings before interest and taxes came to EUR6.35 billion. It had forecast EUR5.0 billion to EUR5.6 billion.
Figures are preliminary and full results are set to be released on March 14. RWE's dividend target remains unchanged at EUR1.0 a share.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
January 26, 2024 07:13 ET (12:13 GMT)
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