Germany · Delayed Price · Currency is EUR RWE Aktiengesellschaft Earnings Call Transcripts
Fiscal Year 2026
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Strong H1 2026 results with adjusted EPS up over 60% year-over-year and upgraded guidance for 2026 and 2027. Major investments in grid infrastructure and flexible generation, with 75% of 2031 earnings already secured, support visible long-term growth.
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Adjusted EBITDA rose 25% year-over-year to EUR 1.6 billion, with strong renewables performance and a EUR 332 million one-off compensation boosting results. Full-year guidance is confirmed, with confidence in trading recovery and continued investment in renewables.
Fiscal Year 2025
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Delivered strong 2025 results at the upper end of guidance, with adjusted EBITDA of EUR 5.1 billion and robust project execution. Announced a EUR 35 billion investment plan for 2026–2031, targeting 12% annual EPS growth and 10% dividend growth, focusing on U.S. and German markets.
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Strong 2025 results with adjusted EBITDA of EUR 5.1 billion and robust investment in renewables, storage, and flexible generation. Outlook targets 12% annual EPS growth to 2031, with EUR 35 billion net investment planned and dividend growth of 10% per year.
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Strong nine-month results with over 80% of full-year EPS target achieved, robust renewables build-out, and significant non-recurring gains from data center site sales. Guidance for 2025 is confirmed, with a focus on continued investment and financial flexibility.
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Strong H1 2025 results with EUR 2.1bn adjusted EBITDA and robust project execution, despite weak wind and trading. Full-year guidance and dividend targets are confirmed, with disciplined capital allocation and major offshore milestones achieved.
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No financial impact from Dutch lawsuits; offshore wind market faces auction design changes and calls for more revenue certainty. Stake in Borsele nuclear plant remains unchanged.
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Adjusted EBITDA reached EUR 1.3 billion and net income EUR 500 million in Q1 2025, despite weak wind conditions. Full-year guidance is confirmed, with net debt expected to fall below EUR 14 billion by year-end. Offshore and onshore project execution and capital allocation remain on track.
Fiscal Year 2024
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2024 saw strong financial and operational results, with adjusted EBITDA and EPS exceeding guidance. The investment plan for 2025–2030 was cut by 25% amid market uncertainty, but EPS growth targets and dividend increases are confirmed. Capital allocation remains flexible, with a focus on disciplined investment and shareholder returns.
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Strong 2024 results with adjusted EBITDA of EUR 5.7 billion and net income of EUR 2.3 billion, driven by renewables expansion and disciplined investment. Outlook for 2025 anticipates normalized earnings and reduced investments, with a continued focus on shareholder returns and risk management.
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Strong financial performance in the first nine months of 2024 led to raised guidance and a €1.5 billion share buyback. CapEx for 2025–2026 is reduced due to uncertainties in U.S. Offshore Wind and hydrogen, while maintaining a strong investment-grade rating and dividend target.
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Strong H1 2024 results driven by renewables growth, with adjusted EBITDA at EUR 2.9 billion and net income at EUR 1.4 billion. Over 10 GW under construction, 4 GW secured in German offshore auctions, and guidance confirmed at the lower end. Investments and decarbonization targets remain on track.