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
Equipe Utilities ...
  • Equipe Sustainability

ODDO : An optimistic message

We recently organised, in partnership with Natixis, the second forum dedicated to renewable energy players. A total of 17 French and non-French firms met over 100 investors and set out their strategy and vision for the future. In addition, two round-table discussions addressed the impact of the trajectory for wholesale electricity prices on the renewable energy plus M&A developments, the auction process and the development of offshore wind. The Forum lends weight to our positive ...

Equipe Utilities ...
  • Equipe Sustainability

ODDO : Un message optimiste

Nous avons organisé, en partenariat avec Natixis, le deuxième Forum dédié aux acteurs des énergies renouvelables. 17 sociétés françaises et étrangères ont rencontré plus de 100 investisseurs et nous ont fait part de leur stratégie et de leur vision de l’avenir. De plus, deux tables rondes ont abordé l’impact de la trajectoire des prix de gros de l’électricité sur le secteur des énergies renouvelables et les évolutions M&A, les processus d’enchères et le développement de l’éolien ...

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.

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...

Ahmed Ben Salem ...
  • Anis Zgaya
  • Benoit Valleaux
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Steven Gould
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2020

After our attempt to establish a sector hierarchy last week, we now adopt an approach using a comparable methodology (speed of revision, performance price / revisions relative to the market, earnings yield/risk-free rate spread) to that of Stoxx 600 stocks. We present a list of 64 stocks combining high scores and a Buy rating from ODDO BHF analysts and a list of stocks to sell, comprising 33 names with a low score and a Reduce rating. The appendix outlines the ranking of all the Stoxx...

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 weak...

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.

Equipe Utilities ...
  • Equipe Sustainability

ODDO : An optimistic message

We recently organised, in partnership with Natixis, the second forum dedicated to renewable energy players. A total of 17 French and non-French firms met over 100 investors and set out their strategy and vision for the future. In addition, two round-table discussions addressed the impact of the trajectory for wholesale electricity prices on the renewable energy plus M&A developments, the auction process and the development of offshore wind. The Forum lends weight to our positive ...

Equipe Utilities ...
  • Equipe Sustainability

ODDO : Un message optimiste

Nous avons organisé, en partenariat avec Natixis, le deuxième Forum dédié aux acteurs des énergies renouvelables. 17 sociétés françaises et étrangères ont rencontré plus de 100 investisseurs et nous ont fait part de leur stratégie et de leur vision de l’avenir. De plus, deux tables rondes ont abordé l’impact de la trajectoire des prix de gros de l’électricité sur le secteur des énergies renouvelables et les évolutions M&A, les processus d’enchères et le développement de l’éolien ...

Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : Encouraging results for the future

>Better-than-expected results - RWE reported a solid set of Q1 2020 results yesterday. EBITDA came to € 1,312m vs € 1,160m estimated (consensus at €1,188m). Adjusted EBIT was clearly higher than forecast, coming to € 955m vs € 785m estimated. Adjusted net profit was in line with forecasts, coming to € 603m (€ 588m ODDO BHF forecast / € 603m consensus) because it is impacted by a higher adjusted financial result stemming from the market turbulence triggered by COVID-19...

Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : Des résultats encourageants pour l’avenir

>Des résultats supérieurs aux attentes - RWE a affiché de solides performances financières hier à l’occasion de la publication de ses résultats T1 2020. L'EBITDA s'est établi à 1 312 M€ contre 1 160 M€ attendus (consensus à 1 188 M€). L'EBIT ajusté était nettement supérieur aux attentes à 955 M€ contre 785 M€ attendus (consensus 824 M€). Le résultat net ajusté est conforme aux attentes à 603 M€ (588 M€ ODDO BHF prévision / 603 M€ consensus) car il est impacté par un r...

Louis Boujard, CFA ...
  • Philippe Ourpatian

RWE : Satisfactory results give a lead on full-year targets

>A good set of operating performances - RWE posted strong Q1 results this morning. EBITDA came in at €1,312m vs €1,160m expected (€1,188m consensus). Adjusted EBIT was significantly above expectations at € 955m vs € 785mexpected (€ 824m consensus). Adjusted net income came in line with expectations at € 603m (€ 588m ODDO BHF forecast/ € 603m consensus estimate) since it was hit by a higher adjusted financial result coming from COVID-19 market turbulences leading ...

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 : ...

Ahmed Ben Salem ...
  • Anis Zgaya
  • Benoit Valleaux
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Steven Gould
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2020

After our attempt to establish a sector hierarchy last week, we now adopt an approach using a comparable methodology (speed of revision, performance price / revisions relative to the market, earnings yield/risk-free rate spread) to that of Stoxx 600 stocks. We present a list of 64 stocks combining high scores and a Buy rating from ODDO BHF analysts and a list of stocks to sell, comprising 33 names with a low score and a Reduce rating. The appendix outlines the ranking of all the Stoxx...

Ahmed Ben Salem ...
  • Anis Zgaya
  • Benoit Valleaux
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • Jean Sassus
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Steven Gould
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2020

Après notre tentative de hiérarchisation sectorielle la semaine passée, nous nous attaquons maintenant, en utilisant une méthodologie comparable (vitesse de révision, performance prix / révisions relative au marché, spread Earnings Yield taux sans risque) à celle des valeurs du Stoxx 600. Nous présentons une liste de 64 valeurs combinant scores élevés et recommandation à l’Achat des analystes d’ODDO BHF ainsi qu’une liste de ventes, comprenant 33 titres à score faible et recommandatio...

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/14/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/05/2020

...

Alexandre Iatrides ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Louis Boujard, CFA
  • Nicolas David
  • Philippe Ourpatian
  • Sylvain Goyon, CFA
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/02/2020

From its low point of 23 March, the Stoxx 600 has clawed back around 15%. Even so, we know that a recession is inevitable and that it will be unprecedented in its magnitude, for a duration that remains unknown and that the adjustment of earnings estimates has not run its course. In this context, it seems futile to think that we can have our cake (the current rise in share prices), eat it (the unprecedented support measures) and come back for second helpings (the expected rally once th...

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 week...

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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