RWE is an electricity and gas company. The Conventional Power Generation segment consists of the activities of RWE Power, Essent and RWE npower. The Supply/Distribution Networks Germany segment supplies electricity, gas and heat. The Supply Netherlands/Belgium segment comprises the activities of Essent in the Netherlands. The Supply United Kingdom segment comprises the operations of RWE npower. The Central Eastern and South Eastern European segment contains activities in the Czech Republic, Hungary, Poland, Slovakia, Turkey and Croatia. The Renewables, Upstream Gas & Oil and Trading/Gas Midstream segments include the activities of RWE Innogy, RWE Dea and RWE Supply & Trading, respectively.
  • TickerRWE
  • ISINDE0007037129
  • SectorGas, Water & Multi-utilities
  • CountryGermany
Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : A value-creative capital increase

>RWE has announced an ABB representing 10% of the capital - RWE has announced that its board, with the approval of the supervisory board, has decided on a capital increase in cash via the partial use of the authorisation granted by the AGM. RWE’s share capital will be increased by 10% by issuing ordinary bearer shares against cash contributions excluding shareholders' subscription rights. Following accelerated book building (ABB), the placement was completed at € 32.5...

Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : Une augmentation de capital créatrice de valeur

>RWE a annoncé un ABB représentant 10% du capital - RWE a annoncé que son directoire, avec l'approbation du conseil de surveillance, a décidé une augmentation de capital en numéraire par utilisation partielle de l’autorisation donnée par l’assemblée générale. Le capital social de RWE sera augmenté de 10% par l'émission d'actions ordinaires au porteur contre des apports en numéraire à l'exclusion du droit de souscription des actionnaires. A l’issue de la constitution d...

RWE AG: 1 director bought

A director at RWE AG bought 2,300 shares at 33.032EUR and the significance rating of the trade was 58/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/14/2020

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Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/08/2020

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Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral or negative price trends. We highlight several Australian names, and would use recent broad market we...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Global Ex-U.S. Equity Strategy

In our January 31 International Compass we presented a case for an incrementally improving overall global outlook, with the caveat that market bottoms tend to be a process that develops over many weeks. Since the end of January, not a lot has changed to alter our views. We remain constructive overall and continue to believe that global equities (MSCI ACWI) are going through a bottoming process. Opportunities exist but Sector leadership is mixed. In our February International Strategy, we explore various themes which lead to our overall constructive outlook, along with areas of the market wher...

Jérôme VINERIER

Short term view - RWE : The movement goes on.

The trend is bearish. The movement goes on. The next target is at €16.364, then €14.401. Passing €22.500 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - RWE : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 16,364 €, puis 14,401 €. Le franchissement de 22,500 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - RWE : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €16.364, then €14.401. Passing €22.500 would question the continuation of the fall.

RWE AG: 1 director bought

A director at RWE AG bought 2,300 shares at 33.032EUR and the significance rating of the trade was 58/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : A value-creative capital increase

>RWE has announced an ABB representing 10% of the capital - RWE has announced that its board, with the approval of the supervisory board, has decided on a capital increase in cash via the partial use of the authorisation granted by the AGM. RWE’s share capital will be increased by 10% by issuing ordinary bearer shares against cash contributions excluding shareholders' subscription rights. Following accelerated book building (ABB), the placement was completed at € 32.5...

Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : Une augmentation de capital créatrice de valeur

>RWE a annoncé un ABB représentant 10% du capital - RWE a annoncé que son directoire, avec l'approbation du conseil de surveillance, a décidé une augmentation de capital en numéraire par utilisation partielle de l’autorisation donnée par l’assemblée générale. Le capital social de RWE sera augmenté de 10% par l'émission d'actions ordinaires au porteur contre des apports en numéraire à l'exclusion du droit de souscription des actionnaires. A l’issue de la constitution d...

Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : H1 2020 in line with our expectations

>Satisfactory set of H1 2020 results - RWE has reported H1 2020 results in line with our expectations. Adjusted EBITDA came in a shade above our expectations at €1,807m (18.5% y-o-y) vs €1,730m expected (consensus and ODDO BHF). Adjusted EBIT was in line with expectations at €1,014m (24.1% y-o-y). Adjusted net income was €749m, in line with ODDO BHF's and the consensus expectations (€ 754m and € 749m respectively). Net economic debt was in line with expectations at €...

Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : Résultats S1 2020 en ligne avec nos attentes

>Résultats S1 2020 satisfaisants - RWE a publié des résultats S1 2020 en ligne avec nos attentes. L'EBITDA ajusté est ressorti légèrement au-dessus de nos attentes à 1 807 M€ (18.5% y-o-y) contre 1 730 M€ attendus (consensus et ODDO BHF). L'EBIT ajusté est ressorti conforme aux attentes à 1 014 M€ (24.1% y-o-y). Le résultat net ajusté s'est élevé à 749 M€ en ligne avec nos attentes et ceux du consensus (754 M€ et 749 M€, respectivement). La dette économique nette est...

Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : H1 2020 results in line

>A good set of results - RWE released this morning a good set of interim results. Adjusted EBITDA was up 18% to € 1,807m compared with € 1,730m expected (consensus and ODDO BHF), while adjusted EBIT was up 24% to € 1,014M (in line with expectations) and adjusted net income was € 749m (in line). Almost all of the segments posted results above expectations (except offshore wind, in line) benefiting from better wind conditions, new commissioning, reinstatement of the ca...

RWE AG: Update following change in outlook to positive

Our credit view of RWE AG, reflecting its transformation into a large renewable generator amid difficult conditions for conventional generation.

Moody's announces completion of a periodic review of ratings of RWE AG

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of RWE AG. Global Credit Research- 16 Mar 2020. Paris, March 16, 2020-- Moody's Investors Service has completed a periodic review of the ratings of RWE AG and other ratings that are associated with the same analytical unit.

Moody's changes RWE's outlook to positive; affirms ratings

Rating Action: Moody's changes RWE's outlook to positive; affirms ratings. Global Credit Research- 12 Mar 2020. Paris, March 12, 2020-- Moody's Investors Service has today affirmed the Baa3 issuer rating of RWE AG, and the Ba2 rating of its subordinated hybrid capital securities.

RWE AG: Key Facts and Statistics

A summary company profile, detailing RWE AG’s business operations and financial highlights.

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 15/11/2019 - Vallourec - FR

Vallourec (Conserver) : EBITDA de €253m (+€192m) sur les 9M-19 Tereos (Achat 2020, Vente 2023) : Les résultats s’améliorent sur le T2-2019/20, mais le levier reste très élevé (10,5x à fin septembre) Raiffeisen Bank International (Achat) - 9M-19 : RN de €874m (-24,5%) CNP Assurances (Achat Tier 2) : CA de €25,9 mds (+5,4%, +5,7% en organique) International Game Technology (Achat) - 9M-19 : EBITDA de $1,3 md (-3,3%) Daimler (Conserver) : Nouveau plan de suppression de postes afin de dégager plus de €1 md d'économies RWE (Conserver) - 9M-19 : ...

Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/14/2020

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Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/08/2020

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Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/13/2020

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Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/08/2020

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Bruno Cavalier ...
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/27/2020

After years of unrealised €/$ bullish forecasts the single currency is finally on an upward trajectory. This change of course reflects a radical shift in the perception of the political risk associated with the European Union. The starting point for the rise (17 May) corresponds, moreover to the Franco-German announcement of the stimulus plan project. The European agreement of 21 July to begin the implementation process argues in favour, in a context of an upturn in PMIs, in favour of...

RWE AG. reduced its risk exposure resulting in an upgrade to Slightly Positive

RWE AG. (DE), a company active in the Multiutilities industry, reduced its market risk and raised its general evaluation. The independent financial analyst theScreener awarded an improved star rating to the company, which now shows 3 out of 4 possible stars; its market behaviour has improved and can be considered as defensive. theScreener believes that this new assessment merits an overall rating upgrade to Slightly Positive. As of the analysis date June 19, 2020, the closing price was EUR 31.15 and its potential was estimated at EUR 33.59.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

Expert Corporate Governance Service (ECGS)

RWE - AGM 26 June 2020

WARNING: The AGM is to be held in the form of a virtual AGM in accordance with the German Act to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by way of postal voting or by granting authority to the proxies designated by the Company.Item 2: We recommend to oppose the dividend proposal as the dividend is not covered by free cash flow or EPS for a fifth consecutive year and we therefore consider a payment inappropriate at this time.Item 5: PwC, Frankfurt, i...

Expert Corporate Governance Service (ECGS)

RWE - AGM 03 May 2019

Item 2: Management and Supervisory Board are proposing a dividend of EUR 0.70 per ordinary and per preference share. The dividend is covered by free cash flow but is not covered by earnings. Due to the fact that the dividend is not covered by free cash flow or EPS for a fourth consecutive year, we consider a dividend payment inappropriate at this time and therefore recommend to oppose the dividend proposal. Items 5 and 6: PricewaterhouseCoopers, Essen, is proposed as auditor for the current financial year as well as for the audit-like review of the financial report for the first half of 2019 ...

RWE – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 26/04/2018

General: In February 2018, RWE announced a complex EUR 43bn deal to sell Innogy to E.ON, see section 3.1 for details. Items 5 and 6: PwC, Frankfurt am Main, is proposed as auditor for the current financial year as well as for the audit-like review of the financial report for the first half of 2018 and of the quarterly reports for 2018. We have no concerns over the ratio of nonaudit/ audit fees. However, we note that PwC has audited the Company since at least the financial year 1997 (no earlier data available) which exceeds our maximumacceptable term of office. We therefore recommend opposing ...

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