RWE profit plunges on wind, trading and power sales effects

RWE profits fell sharply in the first half of this year due to a mix of worse trading and power sales results and lower winds.

Revenues fell to €10.1bn ($11.8bn) in the first half of 2025 from €11.2bn in the year-earlier period, while adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) went down to €2.1bn in the period, from €2.9bn a year earlier.

Adjusted net profit plunged to €775m in the first half of this year, from €1.4bn in the year-earlier period.

RWE CEO Markus Krebber assured that the company is nevertheless confirming its full-year target for adjusted earnings per share, and stressed that the value-accretive expansion of the German utility’s portfolio is progressing rapidly.

“Of the 11.2GW currently under construction, we will commission over 3GW in the second half of the year.”

Among that capacity is the 1.4GW Sofia offshore wind project, for which RWE has already installed all 100 turbines and expects first power to flow this year.

Offshore wind adjusted Ebitda fell to €643m during the first half, from €828m in the year-earlier period, due to a significant deterioration in wind conditions.

Adjusted Ebitda in onshore wind and solar rose to €830m in the period, from €730m a year earlier on the commissioning of new generation assets.

Adjusted Ebitda in flexible generation – which includes run-of-river and pumped-storage hydro plants as well as biomass and gas power stations – fell to €595m in the first half of 2025 from €1.0bn in the year-ago period. Margins on electricity forward sales were lower than in the same period of the previous year, the company said.

Supply and trading also saw its adjusted Ebitda plunge, to €16m from €318m in the year-earlier period, primarily due to the performance in proprietary trading.

RWE confirmed its outlook for an adjusted Ebitda of €4.55bn to €5.15bn for the whole year and adjusted net income of €1.3bn to €1.8bn.