RWE : New capital allocation decision should help a re-rating
>Result a shade above forecast enabling slight increase in 2024 guidance - RWE released this morning its 9M results that came a shade above our forecast. Adjusted EBITDA came in at € 3,956m vs € 3,914m expected (ODDO BHF) or € 3,879m (css). Adjusted EBIT was down 35.7% to € 2,456m vs € 2,414m expected (ODDO BHF and css). In the end, attributable net profit was € 1,602m (-52.6%) vs € 1,568m expected (ODDO BHF). As expected, offshore and onshore wind came in line with e...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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