RWE with problems in UK - increase in earnings in the renewable energy division

Essen, Germany - During the first half of 2015, RWE

The main contributing factor was the continued decline in margins in conventional electricity generation. Energy supply showed a positive trend, contributing EUR 614 million Europe-wide to the operating result (previous year: EUR 589 million). Here, gas sales were positively influenced by the normalisation of temperatures compared to the very mild weather in the same period last year. However, a counteracting effect was felt by burdens caused by unexpected operational and technical problems in the UK supply business.

Adjusted net income (previously: recurrent net income) was down 28% to EUR 543 million. Besides the weaker operational earnings, this can also be attributed to an unusually high effective tax rate. External revenue was largely unchanged, at EUR 25.1 billion.

Investments in renewable energy pay off The Renewables Division posted a marked improvement in earnings. RWE Innogy

Source: IWR Online, 13 Aug 2015