FRANKFURT (Reuters) -Germany’s biggest power producer RWE posted lower-than-expected core profit for the first half on Thursday, citing weak wind conditions as well as a muted trading business.
First-half adjusted earnings before interest, tax, depreciation and amortisation fell by more than a quarter to 2.14 billion euros ($2.50 billion), missing the 2.24 billion average estimate in an analyst poll provided by the company.
The group, which is also the world’s second-biggest developer of offshore wind projects, still confirmed its outlook for 2025, as well as its mid-term guidance for earnings per share for 2027 and 2030.
First-half profit at the group’s supply and trading division, a traditionally volatile business that benefits from big price swings, fell 95% to 16 million euros, RWE said.
Shares in the company were indicated to open 1.3% lower ahead of the 0700 GMT market open, following the results.
RWE, which has around half of its installed renewable capacity in the United States, still expects adjusted earnings before interest, tax, depreciation and amortisation of 4.55-5.15 billion euros in 2025 and a dividend of 1.20 euros per share.
($1 = 0.8543 euros)
(Reporting by Christoph SteitzEditing by Ludwig Burger)
