rwe posts first fullyear loss in 60 years in 2013
Last Updated : GMT 23:05:17
Arab Today, arab today
Arab Today, arab today

RWE posts first full-year loss in 60 years in 2013

Arab Today, arab today

Arab Today, arab today RWE posts first full-year loss in 60 years in 2013

Frankfurt - AFP

RWE, Germany's second-biggest power supplier, unveiled Tuesday its first full-year loss in more than 60 years last year as it grapples with the crisis in conventional electricity generation. And RWE warned its earnings would deteriorate further this year. The power giant said in a statement that writedowns on its conventional power plants pushed it into net loss of 2.757 billion euros ($3.8 billion) in 2013. Underlying or operating profit fell by 8.3 percent to 5.881 billion euros while revenues edged up 1.6 percent to 54.07 billion euros. "The difficult earnings situation in conventional electricity generation in Europe is clearly reflected in our 2013 results," the statement said. "This is attributable to impairment losses of some 4.8 billion euros, which we  had to recognise for the full year, mainly in respect of our power plant fleet. RWE has been hit hard by the energy transition currently underway in Europe. Its fossil fuel activities are making losses and it is slashing jobs as a result. Adjusted for one-off charges, RWE's so-called "recurrent" net profit fell by 5.8 percent to 2.3 billion euros in 2013. Looking ahead, RWE said earnings will decline again this year. "As announced in November 2013, we expect to experience a further substantial decrease in earnings in 2014," RWE said. It said it is pencilling in operating result of 4.5-4.9 billion euros and recurrent net profit of 1.3-1.5 billion euros.

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*

rwe posts first fullyear loss in 60 years in 2013 rwe posts first fullyear loss in 60 years in 2013

 



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*

rwe posts first fullyear loss in 60 years in 2013 rwe posts first fullyear loss in 60 years in 2013

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
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 Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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