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RWE Nine-Month Net Profit Rises

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11/14/2017 | 07:44am CET
   By Sonia Amaral Rohter 
 

RWE AG (RWE.XE) said Tuesday that its nine-month net profit increased significantly, due to a better financial result and a nuclear-fuel tax refund received in the second quarter.

The German energy company said net profit for the nine months ended Sept. 30 was 2.22 billion euros ($2.59 billion), compared with EUR11 million a year earlier. Adjusted net income, which excludes exceptional items and the nuclear fuel tax refund, was EUR876 million compared with EUR227 million a year earlier, it said.

Revenue including natural gas and electricity tax was down 2.5% for the nine months at EUR32.39 billion.

The company said it received a nuclear-fuel tax refund of EUR1.7 billion in the second quarter after Germany's constitutional court ruled the tax to be retroactively void.

The company confirmed its 2017 outlook, saying that it expects to be at the upper end of its range. It forecasts adjusted earnings before interest, tax, depreciation and amortization of EUR5.4 billion to EUR5.7 billion and adjusted net income of EUR1 billion to EUR1.3 billion.

Write to Sonia Amaral Rohter at [email protected]

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