RWE's earnings per share up 21% to €1.64 in H1

Thursday, 13. August 2020 07:08

RWE AG revealed on Thursday that its earnings per share (EPS) stood at €1.64 in the first half of fiscal 2020, marking a jump of 21% compared to the corresponding period a year ago.

Net income amounted to €1 billion in the six-month period, surging 59% on an annualized basis. External revenue, excluding natural gas tax and electricity tax, rose by 0.5% year on year to €6.5 billion in the first six months of 2020, while adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) surged 63% to €1.8 billion in the same time span.

"The coronavirus continues to cast a shadow over the global economy. But RWE has weathered these difficult times well so far, and this is also reflected in our business performance for the first six months," CFO Markus Krebber stated. "Our earnings are growing considerably. Thus, we expect both adjusted EBITDA and adjusted EBIT to be at the upper end of our forecast range for 2020," he added.

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Breaking the News / NP