ESSEN (dpa-AFX) - RWE AG (RWEOY.PK), a German energy company, Wednesday reported income before tax of 4.812 billion euros for the first half, significantly higher than 2.513 billion euros in the same period a year ago primarily due to increase in operating income despite lower revenue.
Other operating income rose to 3.953 billion euros from 1.971 billion euros in the previous year.
Net income increased to 4.010 billion euros or 5.39 euros per share from 1.991 billion euros or 2.68 euros per share last year.
Excluding one-time items, adjusted net income, however, declined to 1.362 billion euros or 1.83 euros per share from 2.378 billion euros or 3.20 euros per share a year ago.
Adjusted earnings before interest, taxes, depreciation and amortisation or adjusted EBITDA fell to 2.899 billion euros from 4.143 billion euros last year.
Revenue for the period dropped to 11.212 billion euros from 14.862 billion euros in the previous year.
For fiscal 2024, RWE expects adjusted EBITDA to be in the range of 5.2 billion euros - 5.8 billion euros, compared with 7.749 billion euros in fiscal 2023. Adjusted net income for the year is expected to be 1.9 billion euros - 2.4 billion euros, lower than 4.098 billion euros posed last year.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
