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RWE loss 660 million euros, EBITDA increased

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Christian Fernsby ▼ | March 12, 2020
RWE reported a loss from continuing operations of 660 million euros in fiscal year 2019 compared to a loss of 54 million euros, previous year.
RWE   Adjusted EBITDA was 2.1 billion euros
Adjusted EBITDA increased to 2.5 billion euros from 1.5 billion euros, prior year.

Topics: RWE

Including innogy as a financial investment: adjusted EBITDA was 2.1 billion euros, for the fiscal year 2019, and adjusted net income rose to 1.2 billion euros from 591 million euros.

The company said this was due to the exceptional trading performance and the strong gas and LNG business.

Fiscal 2019 external revenue excluding natural gas tax electricity tax was 13.12 billion euros compared to 13.41 billion euros, previous year.

The company said the decline was primarily due to the 25% decline in gas revenue to 1.16 billion euros.

Revenue from electricity was 10.27 billion euros, compared to 10.12 billion euros.

For fiscal 2020, the company targets adjusted EBITDA of between 2.7 billion euros and 3.0 billion euros.

Adjusted net income is expected to be in the range of 0.85 billion euros and 1.15 billion euros.

From 2020 to 2022, in terms of key earnings figures, the company plans to record annual growth of 7% to 10%.

The Executive Board and the Supervisory Board of RWE AG will propose to the AGM an increased dividend of 0.80 euros per share be paid for fiscal 2019.

The company aims to increase the dividend further in the future.

Management intends to increase the dividend to 0.85 euros for 2020.