The group, in the first half of 2009, has generated external revenue of EUR24.4 billion, which represents a decline of 1.4% when compared to the same period last year. The earnings of the group improved in the first half of 2009.
The company’s EBITDA increased by 4% to EUR5,047m and the operating result improved by the same percentage to EUR4,084m, when compared to the same period of 2008. Recurrent net income also rose by 5% to EUR 2,232m.
RWE Power increased its operating result by 4% to EUR1,838m on the strength of electricity prices achieved, despite the outages at the Biblis nuclear power plant. Recurrent net income also increased by 5% to EUR2,232m.
The group’s electricity sales dropped by 11% to 143.4 billion kWh, which is due to a fall in demand from industrial customers to a recession-induced decline in production. However, RWE acquired new customers in the residential and distributor segments. Gas sales dropped by 8% to 168.2 billion kWh.
Dr. Juergen Grossmann, chief executive officer of RWE AG, said: “The first half of the year is confirmation that we can expect to meet our key earnings targets for 2009 despite the economic crisis. We are implementing our investment programme according to plan, as is clear from our current projects. Our two largest power plant construction sites at Neurath and Hamm alone are securing more than 13,000 jobs in Germany. Once these plants are in operation, they will secure around 1,700 jobs at RWE and with service providers and subcontractors over the long term – great news in the current climate.”
