RWE : Very good 2023 results but attention focused on the future
>Outperform recommendation confirmed and target price lowered to € 46 vs € 50 - On Friday during trading, RWE released preliminary results that beat the guidance and our estimates for 2023. However, management acknowledged that the recent decline in energy prices prompts it to anticipate 2024 results towards the bottom of its guidance range, which has led us to lower our forecasts for EPS by 3% to 8% over the 2024-2030 period. Out to 2030, our forecasts are now at the...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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