RWE Publishes Nine-Month Results Above Expectations While Reaffirming 2017 Targets
We are reaffirming our EUR 21 per share fair value estimate for RWE. Nine-month results came in above consensus expectations and are on track to exceed our full-year expectations. Management reiterates that 2017 EBITDA and net income should be at the upper range of group's EUR 5.4 billion-EUR 5.7 billion target, while our estimates point to the middle of the range. We are reaffirming our no-moat and stable moat trend ratings.EBITDA growth accelerated during the third quarter, increasing by 20% ...
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.
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