RWE: raises full-year earnings outlook
(CercleFinance.com) - German utility giant RWE has raised its full-year 2019 earnings outlook, in view of the reinstatement of the British capacity market and its strong trading performance over the first nine months of the year.
The company now expects adjusted EBITDA of between 1.8 billion and 2.1 billion euros, against a previous forecast range of 1.4 billion euros to 1.7 billion euros.
RWE said that it now expects adjusted net income of between 900 million and 1.2 billion euros, above the previous forecast range of 500 million to 800 million euros.
The group - which has sold innogy's grid and retail activities to rival E.ON - said that adjusted EBITDA rose to 1.5 billion euros in the first nine months of the year, after 1.3 billion euros in the same period last year.
RWE has also confirmed its target dividend of 80 cents per share for 2019.
The share price was down 2.3% after these announcements on Thursday morning.
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