Arab Today, arab today rwe confirms forecasts after respectable first quarter
Last Updated : GMT 20:29:33
Arab Today, arab today
Arab Today, arab today

RWE confirms forecasts after 'respectable' first quarter

Arab Today, arab today

Arab Today, arab today RWE confirms forecasts after 'respectable' first quarter

RWE CFO Bernhard Guenther, pictured next to CEO Peter Terium
Frankfurt - AFP

RWE, Germany's second-largest power supplier, on Thursday confirmed its full-year targets after a satisfactory first quarter. 

"Overall, we have achieved a thoroughly respectable result for the first quarter," said chief financial officer, Bernhard Guenther. 

"RWE confirms its earnings outlook for the  group's business performance this year," he said.

Full-year underlying or operating profit was projected to  total between 2.8 billion euros and 3.1 billion euros ($3.2-3.5 billion) and adjusted net income was "likely to be in the range of 0.5-0.7 billion euros," RWE said.

That compares with operating profit of 3.8 billion euros and net profit of 1.1 billion euros in 2015.

"At first glance, these figures appear quite conservative in light of the result for the first quarter. In the energy sector, however, the first quarter is traditionally strong, and its figures cannot be extrapolated to provide a reliable estimate for the year as a whole," RWE said.

In the period from January to March, RWE's net profit slumped by 59.4 percent to 879 million euros. But the year-earlier figures had been boosted by gains from the divestment of shares. 

Operating profit, on the other hand, grew by 7.1 percent to 1.7 billion euros, while revenues declined by 5.9 percent to 13.7 billion euros. 

Like its rivals, E.ON and Vattenfall, RWE is being hit by intense pressure on its margins from weak electricity wholesale prices and intense competition from heavily-subsidized renewable energy sources. 

RWE is the biggest operator of conventional coal, gas and nuclear power plants in Germany. 

Operating profit in the conventional power generation business slumped by 20 percent in the January-March period. 

"Development in the renewables division was pleasing," said finance chief Guenther. 

At the same time, the energy trading division "made an unusually high earnings contribution."

But "revenues from energy trading are, however, subject to major fluctuations during the year," he said. 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rwe confirms forecasts after respectable first quarter Arab Today, arab today rwe confirms forecasts after respectable first quarter

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today rwe confirms forecasts after respectable first quarter Arab Today, arab today rwe confirms forecasts after respectable first quarter

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday