RWE's core profit for the first half of the year is hit by a weak wind trading

RWE, Germany's largest power producer, posted a lower-than expected core profit for the half-year period on Thursday. The company cited weak wind conditions and a tepid trading business.

The company's analyst poll revealed that the average estimate for the first-half adjusted profit before interest, taxes, depreciation, and amortization was 2.24 billion euros. This is a drop of more than 25%.

The group, the second largest developer of offshore wind in the world, has confirmed its outlooks for 2025 as well as mid-term guidance on earnings per share between 2027 and 2030.

RWE reported that the first-half profit of its supply and trading division fell by 95%, to 16 million euro. This is a business which has benefited from large price swings in the past.

Following the results, it was predicted that shares in the company would open at a 1.3% lower price before the market opens at 0700 GMT.

RWE, with around half its renewable capacity installed in the United States still expects to earn adjusted earnings before tax, depreciation, and amortization of 4,55-5,15 billion euros by 2025, and a dividend per share of 1,20 euros. (Reporting and Editing by Ludwig Burger. $1 = 0.8543 Euros)

(source: Reuters)