RWE has raised its earnings forecast for the full year 2021 based on the performance in the first half of 2021.
The company now anticipates adjusted EBITDA of €3.0bn to €3.4bn, up from the previous €2.65bn to €3.05bn for RWE Group.
The outlook for adjusted EBIT increased to €1.5bn to €1.9bn from €1.15bn to €1.55bn and for adjusted net income to €1.05bn to €1.4bn from €0.75bn to €1.10bn.
RWE said that the adjusted EBITDA in the supply and trading division reached an exceptionally high level of €525m in the first half year thanks to a strong trading performance.
Originally RWE estimated a range of €150m to €350m for this segment.
RWE therefore increased the outlook for supply and trading for 2021 and assumes to close the year significantly above the €350m.
The EBITDA forecast for the other segments is unchanged.
RWE will publish its interim report for the first half of 2021 on 12 August.
RWE chief financial officer Michael Muller (pictured) said: “Our earnings development in the first half of the year was characterised by an exceptionally strong trading performance by the supply and trading division.
“Given that our outlook for 2021 was muted due to the negative effects from the Texas cold snap at the beginning of the year, we are now pleased to raise our forecast for RWE Group for fiscal 2021.
“This gives us further fuel for the transformation of RWE as a driver of the energy transition.”