Arab Today, arab today german energy giant rwe raises full year target
Last Updated : GMT 05:52:01
Arab Today, arab today
Arab Today, arab today

German energy giant RWE raises full year target

Arab Today, arab today

Arab Today, arab today German energy giant RWE raises full year target

Berlin - AFP

RWE, Germany\'s second biggest power supplier, said Wednesday it was more confident about this year\'s earnings after posting solid profits in the third quarter despite a tricky economic environment. \"We are raising our earnings forecast for the full year slightly,\" said RWE boss Peter Terium in a letter to shareholders. The firm expects underlying profit, as measured by earnings before interest, tax, depreciation and amortisation (EBITDA) and operating profit to be \"at least on a par\" with the comparable figures of last year, Terium said. Previously the firm had forecast EBITDA and operating profit \"close\" to last year\'s levels of 8.5 billion euros ($10.8 billion) and 5.8 billion euros respectively. In a later news conference, board member Bernhard Guenther told reporters the firm also saw \"no change for 2013\" as far as its profit targets were concerned. RWE had previously said that 2013 operating and net profit would be around the same as last year. In the third quarter, the firm swung to a net profit of 296 million euros, compared to a loss of 174 million euros in the same period last year. Total earnings in the third quarter came to 10.9 billion euros, compared to 10.3 billion euros last year while third-quarter operating profit was up 70 percent. RWE appeared to be performing better than its rival E.ON, which on Tuesday dropped its targets for next year after posting a net loss in the third quarter, sending its stock sharply lower. Energy firms in Germany have been hit hard by Berlin\'s decision to phase out nuclear power in the wake of last year\'s disaster in Fukushima, Japan. \"Admittedly, we felt significant one-off effects from the U-turn in German energy policy last year,\" Terium acknowledged. \"However, we are also benefiting from operational improvements, for example in the trading business,\" added the chief executive. Investors seemed cheered by the results, with RWE stock up 1.31 percent in early Wednesday trading, beating the wider DAX market of leading German shares which was slightly in the red.

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 german energy giant rwe raises full year target Arab Today, arab today german energy giant rwe raises full year target

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today 17.4m tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4m tourists visit UAE in 2016
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 05:41 2017 Monday ,27 February

Phone firms turn to AI at top mobile fair
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