Renewables set to deliver strong results for German utility group RWE

Share

German energy giant RWE AG said Monday that it expected its renewable energy and infrastructure unit – RWE International SE — to account for up to €4.4 billion in earnings (before interest, taxes, depreciation and amortization) this year.

The group is preparing RWE International SE, also known as Innogy, for an IPO at the end of the year and has combined key corporate segments in the unit, including Grid & Infrastructure and Retail in addition to Renewables.

In its outlook for 2016 and 2017, RWE expects Renewables alone to bring in an EBITDA of up to €600 and €800 million and Grid & Infrastructure to account for up to €2.7 billion while Retail is pegged to deliver as much as €1.2 billion.

In 2017, the company said Innogy would generate an EBIDTA figure of between €4.3 and €4.7 billion.

RWE AG’s forecast for total earnings this year — which will also depend on revenues from its Conventional Power Generation and Trading/Gas Midstream segments – remains unchanged, with an EBITDA of €5.2 to €5.5 billion, an operating result of €2.8 to €3.1 billion and adjusted net income of €500 to €700 million.