RWE generated adjusted EBITDA of €1.5 billion, stand-alone €591 millionStaff Writer |
RWE Both figures were lower than the results registered for the previous year
In the past year, on a stand-alone basis RWE generated adjusted EBITDA (earnings before interest, taxes and depreciation and amortisation) of €1.5 billion (previous year: €2.1 billion).
For ‘RWE stand-alone’, adjusted net income amounted to €591 million (compared to €973 million in the prior-year period).
Here again, the forecast of €500 million to €800 million was clearly achieved.
Both figures were lower than the results registered for the previous year, mainly due to the anticipated decline in wholesale electricity prices.
The efficiency-enhancement programme in conventional power generation had an opposite effect.
By the end of 2018, RWE had already nearly completely achieved its goal of reducing its cost base by €300 million annually by 2019 compared to 2016.
The Executive Board and the Supervisory Board of RWE AG will propose to the Annual General Meeting on 3 May an increased ordinary dividend of €0.70 for common and preferred shares for fiscal 2018.
Another increase in the dividend is planned in 2019 to €0.80 per share.
For the current fiscal year, RWE projects adjusted EBITDA in a range of €1.2 billion to€1.5 billion and adjusted net income between €300 million and €600 million.
While a mild recovery can be seen in electricity prices, this will be offset by the negative effects of legal decisions in relation to Hambach Forest and the UK capacity market. ■
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