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RWE eyes upper end of outlook range after first-half core profit up 18%

Published 13/08/2020, 06:05
© Reuters. Lignite-fired Niederaussem power plant of RWE, one of Europe's biggest utilities in Niederaussem near Cologne
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FRANKFURT (Reuters) - RWE (DE:RWEG), Germany's biggest electricity producer, on Thursday said it will reach the upper end of its 2020 outlook for both core and operating profit after what it says was a strong first half.

© Reuters. Lignite-fired Niederaussem power plant of RWE, one of Europe's biggest utilities in Niederaussem near Cologne

The company, Europe's No.3 renewables firm, posted an 18% rise in first-half adjusted earnings before interest, tax, depreciation and amortisation, citing capacity market payments in Britain, higher wholesale power prices and stronger winds.

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