During the first half of 2015, RWE’s EBITDA fell by 7% year on year to € 3.2 billion, while its operating result was down 11% to € 2.0 billion. The main contributing factor was the continued decline in margins in conventional electricity generation.
Energy supply showed a positive trend, contributing € 614 million Europe-wide to the operating result (previous year: € 589 million). Here, gas sales were positively influenced by the normalisation of temperatures compared to the very mild weather in the same period last year. However, a counteracting effect was felt by burdens caused by unexpected operational and technical problems in the UK supply business. Adjusted net income (previously: recurrent net income) was down 28% to € 543 million. Besides the weaker operational earnings, this can also be attributed to an unusually high effective tax rate. External revenue was largely unchanged, at € 25.1 billion. The Renewables Division posted a marked improvement in earnings. RWE Innogy’s operating result of € 233 million was considerably higher than last year’s figure (€ 81 million). The main contributing factor here was the commissioning of new wind farms: They completed the Nordsee Ost and Gwynt y Môr offshore wind farms during this period. These new facilities increase the prospect of the renewables subsidiary RWE Innogy doubling its operating result this year, according to CEO of RWE AG, Peter Terium.
