1. RWE has seen an increase in profits due to boosted renewables sales but expects a decline in earnings this year.
2. The company invested €11.1bn in new renewables projects last year, including acquisitions and new wind and solar power projects.
3. RWE’s adjusted EBITDA for 2023 was €8.4bn, with a significant expansion of their green portfolio and a reduction in CO2 emissions.
RWE, a German energy company, reported an increase in profits last year, driven by higher sales in renewables. They invested €11.3bn in new renewables projects, including acquisitions in the US and investments in wind, solar, and battery storage in Europe and North America. Their total adjusted EBITDA for 2023 was €8.4bn, exceeding forecasts. Earnings from coal and nuclear businesses decreased in line with global efforts to phase out fossil fuels, leading RWE to rename them as ‘phaseout technologies’. The company’s global portfolio expanded by over 160 facilities, increasing renewable energy production by 27% to 45.2 TWh. In their 2024 outlook, RWE expects a decrease in adjusted EBITDA for its core business but plans to raise dividend payouts. The company has reduced emissions by 27% in the current fiscal year. CEO Markus Krebber described the year as successful, highlighting their growing green portfolio and commitment to reducing CO2 emissions. RWE announced a plan to invest over €50bn in the clean energy transition by 2030 as part of its Growing Green strategy.