RWE : No surprise on the guidance upgrade. The challenges lie elsewhere
>Better-than-expected 9M 2019 earnings driven by supply & trading - RWE's 9M 2019 earnings, reported yesterday, beat our expectations and those of the consensus. EBITDA was € 1.539bn vs € 1.334bn in 9M 2018 (ODDO BHF at € 1.456bn and cons at € 1.489bn), EBIT € 1.045bn vs € 921m (ODDO BHF € 969m and cons € 1.017bn) and adjusted net profit € 854m vs € 645m (ODDO BHF € 761m and cons at € 831m). The good performance vs 9M 2018 mainly stems from the supply & trading busine...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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