Essen, 25 July 2023

Preliminary half-year earnings of RWE AG exceed expectations, RWE raises Group earnings forecast for fiscal 2023

RWE’s good earning trend continues also in the second quarter of 2023. In the light thereof, the Executive Board of RWE AG has increased today its earnings forecast for the fiscal year 2023.

Adjusted EBITDA in the Hydro/Biomass/Gas division as well as in the Supply & Trading division reached an exceptionally high level of earnings in the first half year thanks to a strong operational performance.

The following stated figures for the first half of fiscal 2023 are preliminary and unaudited:

• Adjusted EBITDA of the RWE Group: € 4.5 billion
• Adjusted EBITDA of the core business: € 4.1 billion
• Adjusted EBIT: € 3.5 billion
• Adjusted net income: € 2.6 billion.

RWE therefore increased the overall outlook for FY 2023.

For the entire RWE Group RWE anticipates now:

• Adjusted EBITDA of the RWE Group: € 7.1 billion to € 7.7 billion (previously €5.8 billion to €6.4 billion)
• Adjusted EBITDA of the core business: € 6.3 billion to € 6.9 billion (previously €4.8 billion to €5.4 billion)
• Adjusted EBIT: € 5.0 billion to € 5.6 billion (previously €3.6 billion to €4.2 billion)
• Adjusted net income: € 3.3 billion to € 3.8 billion (previously €2.2 billion to €2.7 billion).

(Definition of the key earnings indicators are provided in the Annual Report 2022 on page 26.)

RWE will publish its interim report for the first half of 2023 on 10 August 2023.

Disclosed by Dr Ulrich Rust, General Counsel