RWE: shares higher in Frankfurt on strong annual results
(CercleFinance.com) - Shares in RWE are currently up 0.
8% in Frankfurt, confirming the bullish trend in the German utility sector, as the energy group posts good performance for fiscal 2017 and plans a higher dividend for 2018.
The Essen-based giant said adjusted EBITDA rose to 5.8 billion euros last year, up from 5.4 billion euros in 2016.
In the meantime, adjusted net income came in at 1.2 billion euros, a lot higher than last year's result of 800 million euros.
"We are in good shape again, with a solid financing structure, lower debt and a higher equity ratio. In operational terms, our trading business did well in 2017, along with our power generation activities," said CEO Rolf Martin Schmitz, adding that the performance forms a "good basis" for the future.
For 2018, RWE expects adjusted EBITDA of between 4.9 billion euros and 5.2 billion euros, and adjusted net income of between 700 million euros and 1 billion euros.
RWE plans to pay a dividend of 1.50 euro, including a special dividend of 1 euro for 2017, with the 2018 ordinary dividend set to rise to 0.70 euros.
All these announcements were warmly welcomed in Frankfurt this morning, where the RWE stock was trading 1% higher at above 19.8 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
8% in Frankfurt, confirming the bullish trend in the German utility sector, as the energy group posts good performance for fiscal 2017 and plans a higher dividend for 2018.
The Essen-based giant said adjusted EBITDA rose to 5.8 billion euros last year, up from 5.4 billion euros in 2016.
In the meantime, adjusted net income came in at 1.2 billion euros, a lot higher than last year's result of 800 million euros.
"We are in good shape again, with a solid financing structure, lower debt and a higher equity ratio. In operational terms, our trading business did well in 2017, along with our power generation activities," said CEO Rolf Martin Schmitz, adding that the performance forms a "good basis" for the future.
For 2018, RWE expects adjusted EBITDA of between 4.9 billion euros and 5.2 billion euros, and adjusted net income of between 700 million euros and 1 billion euros.
RWE plans to pay a dividend of 1.50 euro, including a special dividend of 1 euro for 2017, with the 2018 ordinary dividend set to rise to 0.70 euros.
All these announcements were warmly welcomed in Frankfurt this morning, where the RWE stock was trading 1% higher at above 19.8 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.