RWE is raising its full-year earnings outlook for fiscal 2019. The company now expects adjusted EBITDA for RWE stand-alone of between €1.8 billion and €2.1 billion, as opposed to the previous forecast of €1.4 billion to €1.7 billion. RWE now anticipates that adjusted net income will range between €0.9 billion and €1.2 billion (previously €0.5 billion to €0.8 billion).
EBITDA for RWE stand-alone does not include income from the operations acquired from E.ON. They anticipate that adjusted EBITDA from September through to the end of the year will total between €200 million and €300 million here.
RWE’s renewable energy business has continued to develop: RWE has embarked on new wind and solar projects in the USA, UK and Poland and signed new contracts with partners. The current portfolio, which has a size of over 9GW, is set to be expanded through up to €1.5 billion in net investments every year. About 2.6GW are under construction, supplemented by a project pipeline with a current capacity of approximately 20GW.
In the first three quarters of 2019, RWE stand-alone recorded €1.5 billion in adjusted EBITDA after €1.3 billion in the same period last year. Adjusted net income totalled €854 million in the first nine months (first nine months of 2018: €645 million).
