L R AS Published on Tuesday 22 March 2022 - n° 398 - Categories:company results
RWE in 2021: penalized by the storm in Texas
RWE's wind and onshore solar business was affected by the storm in Texas, which reduced production after it had been sold. RWE had to make an emergency purchase
the electricity not produced, resulting in a cost of $400m. This explains the halving of EBITDA to €258m from €523m in 2020. A strong recovery in EBITDA is expected in 2022, reaching €650-800m
Last year, the RWE group achieved sales of €24.5 billion (+79%), EBITDA of €3.65 billion (+11%), operating profit of €2.2 billion and adjusted net profit of €1.6 billion (net margin of 6.4%)
https://www.pv-tech.org/renewables-growth-should-be-top-priority-for-policymakers-rwe-ceo/
PV Tech of 15 March 2022
