RWE, the German energy company, has announced that it has significantly increased its portfolio investments in the first half of the year, leading to a positive revision of its full-year outlook. The company has invested a staggering 9 billion euros ($9.88 billion) in this period, compared to EUR2.1 billion in the same period last year. Additionally, RWE has expanded its renewables capacity by 5.1 gigawatts through strategic acquisitions and the commissioning of new plants.
In terms of financial performance, RWE has seen remarkable growth. Adjusted net income for the first half of the year reached EUR2.63 billion, a substantial increase from EUR950 million reported a year earlier. Adjusted earnings before interest, taxes, depreciation, and amortization also witnessed a significant rise, climbing to EUR4.54 billion from EUR2.12 billion. Furthermore, adjusted EBIT stood at EUR3.51 billion.
According to the company, stellar earnings were primarily driven by impressive performance in the hydropower, biomass, and gas segment, as well as a strong supply-and-trading business.
Reaffirming its previous guidance lift, RWE stated that it expects adjusted net income for the full year to be between EUR3.3 billion and EUR3.8 billion. Additionally, adjusted EBITDA is projected to range from EUR7.1 billion to EUR7.7 billion, while adjusted EBIT is expected to be between EUR5 billion and EUR5.6 billion.
Overall, RWE’s robust investment strategy and solid earnings performance in the first half of the year have positioned the company for continued success.
