RWE has raised its outlook for 2022, driven by a dynamic market environment that is delivering higher generation margins.
The German energy company said adjusted EBITDA for 2022 is now expected to be between €3.6bn and €4bn.
Adjusted EBITDA in its offshore wind business is now anticipated to be between €1.35bn and €1.6bn, and range from €0.65bn to €0.8bn in its onshore wind and solar division.
The core business is anticipated to achieve adjusted EBITDA levels of between €2.9bn and €3.3bn.
RWE chief financial officer Michael Muller (pictured) said: “With our diverse portfolio, both from a technological and geographical point of view, RWE is a reliable generator of electricity.
“In a dynamic market environment, we are able to secure higher generation margins.
“On the back of this, we are now pleased to raise our forecast for the RWE Group for fiscal 2022.
“This puts us in an even stronger position to deliver our Growing Green strategy.”
Adjusted EBIT is expected to range from €2bn to €2.4bn, with adjusted net income at €1.3bn to €1.7bn.
The dividend target is €0.90 per share for fiscal 2022, as indicated at the Capital Market Day back in November last year.
RWE will publish its Annual Report for the 2021 financial year on 15 March 2022.