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

RWE AG (RWE)

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RWE AG : RWE to Invest Solely in Renewable Energy - Report

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10/29/2013 | 06:42pm CET

German utility RWE AG (RWE.XE) is set to change its strategy and invest solely in renewable forms of power generation, newspaper Handelsblatt says in an article released ahead of publication Wednesday, citing an internal document.

RWE Chief Executive Peter Terium wants no further investments in fossil-fueled powered plants, according to the German daily. In 2020, conventional forms of power generation should contribute no more than one fifth of the operating result, according to Mr. Terium's plans, the article says. He also wants to develop new business models for decentralized power distribution, Handelsblatt reports.

An RWE spokeswoman declined to comment on the report.

Germany is phasing out nuclear power and replacing fossil fuels by renewable sources of energy like wind and solar power, a policy that raised prices for electricity.

Newspaper website: http://www.handelsblatt.com

-Write to the Frankfurt Bureau at djnews.frankfurt@dowjones.com

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Financials (€)
Sales 2016 46 510 M
EBIT 2016 3 041 M
Net income 2016 483 M
Debt 2016 5 844 M
Yield 2016 2,42%
P/E ratio 2016 18,49
P/E ratio 2017 12,98
EV / Sales 2016 0,29x
EV / Sales 2017 0,42x
Capitalization 7 698 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 14,1 €
Spread / Average Target 11%
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NameTitle
Rolf Martin Schmitz Chairman-Executive Board & Chief Executive Officer
Werner Brandt Chairman-Supervisory Board
Markus Krebber Chief Financial Officer
Frank-Detlef Drake VP, Head-Corporate Research & Development
Frank Bsirske Deputy Chairman-Supervisory Board
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