Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Xetra  >  RWE AG    RWE   DE0007037129

RWE AG (RWE)

Real-time Quote. Real-time Tradegate - 08/31 06:05:27 pm
14.638 EUR   -0.76%
08/30 RWE : to acquire PV and storage specialist Belectric Solar & Battery
08/30 NPOWER PROJECT : Nigerian Manufacturers Cry Foul over Plot by Osinba..
08/29DJInnogy to Acquire Solar Energy, Battery Specialist Unit of BELECT..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

RWE AG : RWE Scales Down Biomass Activities to Focus on Wind, Hydro Energy

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/22/2013 | 12:06pm CEST

By Jan Hromadko

FRANKFURT--The renewable energies unit of German power and gas utility RWE AG (RWE.XE) is narrowing its focus to concentrate on wind and hydro power, reducing its activities in biomass fuels like wood and straw, presently its third core area in "green" energy production, the company said Friday.

"RWE no longer considers the business with smaller biomass facilities as core business," said a spokesman for RWE Innogy.

Going forward, the company doesn't plan further substantial investment in biomass facilities, the spokesman added.

The comments coincided with the announcement of the sale of majority stakes in two small German biomass facilities to Koehler Renewable Energy GmbH, a unit of Germany's Koehler Holding GmbH. No financial details of the transaction were disclosed.

RWE Innogy said, however, that the sale reflects the company's tight financial situation.

"In times of scarce [financial] resources the transaction contributes to retain the financial leeway for projects, particularly in wind and hydro energy," the company said.

Like other energy utilities across Europe, RWE is suffering from falling energy demand and lower prices, which have eroded the profitability of electricity production.

In response to the increasingly challenging market environment, RWE is implementing a cost-cutting program through which it hopes to wring savings of around 1 billion euros ($1.3 billion) through 2014.

Other measures aimed at conserving cash include a program to dispose of EUR7 billion in assets by the end of this year.

Citing Hans Buenting, chief executive of RWE's renewable energies unit, German daily newspaper Handelsblatt earlier Friday reported that the company is considering disposing of other biomass businesses, including a wood pellets factory in Waycross, Georgia.

The company spokesman said that other disposals cannot be ruled out, but added that no decisions have yet been made.

However, while smaller biomass facilities are no longer part of RWE's core business, the company said it still plans to use biomass as fuel in industrial-scale power plants, like its U.K.-based biomass power station in Tilbury.

The former coal-fired power plant was converted in 2011 to burn wood pellets, which RWE sources from its factory in Georgia.

Write to Jan Hromadko at jan.hromadko@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on RWE AG
08/30 RWE : NPower Opens No-Cost IT Job Training Program for Young Adults in Baltimore..
08/30 RWE : to acquire PV and storage specialist Belectric Solar & Battery
08/30 NPOWER PROJECT : Nigerian Manufacturers Cry Foul over Plot by Osinbajo’s O..
08/29DJInnogy to Acquire Solar Energy, Battery Specialist Unit of BELECTRIC Group
08/25 Britain's Big Six energy suppliers stem customer exodus as prices rebound
08/19 RWE : Npower does not have the energy to sort my partner’s billing issue
08/15 RWE : Solid performance in the first half of 2016
08/15 RWE : Publication Confirmation of a Managers' Transactions Notification pursuant..
08/12DJRWE Net Is Hurt By Trading Losses -- WSJ
08/12 RWE : Npower lures back 200,000 UK customers
More news
Sector news : Multiline Utilities
02:52p AREVA : EDF union board members file challenge to annul Hinkley Point vote
08/30DJCENTRICA : Buys Water Technology Firm FlowGem for GBP13 Million
08/29DJWilliams Adds Three New Directors
08/26 EDF, Vattenfall among winners of UK grid's first battery contracts
08/25 Britain's Big Six energy suppliers stem customer exodus as prices rebound
More sector news : Multiline Utilities
News from SeekingAlpha
08/11 RWE (RWEOY) Q2 2016 Results - Earnings Call Transcript
08/11 RWE AG reports 1H earnings
08/11 RWE AG ADR 2016 Q2 - Results - Earnings Call Slides
05/12 RWE (RWEOY) Q1 2016 Results - Earnings Call Transcript
05/12 RWE AG ADR reports Q1 results
Advertisement
Financials (€)
Sales 2016 45 278 M
EBIT 2016 2 969 M
Net income 2016 618 M
Debt 2016 8 457 M
Yield 2016 2,10%
P/E ratio 2016 14,15
P/E ratio 2017 13,06
EV / Sales 2016 0,38x
EV / Sales 2017 0,39x
Capitalization 8 911 M
More Financials
Chart RWE AG
Duration : Period :
RWE AG Technical Analysis Chart | RWE | DE0007037129 | 4-Traders
Full-screen chart
Technical analysis trends RWE AG
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 14,3 €
Spread / Average Target -2,9%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Peter Terium Chief Executive Officer
Werner Brandt Chairman-Supervisory Board
Rolf Martin Schmitz Chief Operating Officer
Bernhard Günther Chief Financial Officer
Frank-Detlef Drake VP, Head-Corporate Research & Development
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
RWE AG25.96%9 933
NATIONAL GRID PLC12.32%51 894
ENGIE S.A.-12.22%38 822
SEMPRA ENERGY10.68%25 992
E.D.F.-16.24%25 518
PPL CORP1.11%23 401
More Results