The German power company, RWE AG (RWEOY.PK), on Friday, announced preliminary adjusted earnings for the fiscal year 2023. The earnings are expected to surpass the company's projected outlook, while the target dividend remains at a rate of 1.00 euro per share for the same fiscal year.
Following this announcement, RWE shares recorded a 5% loss in the German market, trading at a value of 34.77 euros.
The sectors that exhibited an exceptional performance in the fourth quarter were the Hydro/Biomass/Gas and the Supply & Trading segments.
The adjusted net income for the year is estimated to be around 4.54 billion euros, in contrast to an initial outlook ranging between 3.30 and 3.80 billion euros.
Adjusted Earnings Before Interest and Taxes (EBIT) is projected to stand at 6.35 billion euros, surpassing the initial outlook of between 5 and 5.60 billion euros. The company also estimates the adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of the RWE Group to reach 8.38 billion euros, higher than the previously anticipated range of between 7.20 and 7.70 billion euros.
Adjusted EBITDA for the core business is expected to attain 7.67 billion euros, outpacing the earlier outlook that ranged between 6.30 and 6.90 billion euros.
RWE AG plans to publicise the full financial results on March 14.
