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RWE headquarters in Essen (archive image)
Photo: WOLFGANG RATTAY / REUTERS
While the corona crisis hits many companies hard, the electricity company RWE managed a little surprise: The past year went better for the energy company than the company itself had expected.
The adjusted earnings before interest and taxes were expected to be just under 1.8 billion euros, announced the energy company.
In its forecast for the 2020 financial year, the management board had expected a maximum of 1.5 billion euros.
The reason for the increase is above all the extraordinarily strong development in energy trading in the last quarter of 2020. The net profit for the past year is 1.2 billion euros.
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Significantly better balance than 2019
By generating electricity from coal and nuclear energy, RWE earned more in 2020 than in the previous year.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITA) were expected to be 559 million euros, well above the 2019 result of 340 million euros.
A comprehensive swap of business areas with its former rival E.on has made RWE a major producer of green electricity.
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bah / dpa
