RWE posts €2.1bn adjusted EBITDA in H1 2025 despite adverse wind conditions

German group RWE maintains its annual targets after achieving half its earnings-per-share forecast, despite declining revenues in offshore wind and trading.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

German energy group RWE AG reported adjusted EBITDA of €2.1bn ($2.29bn) in the first half of 2025, alongside adjusted net income of €800mn ($872mn), according to results published on August 14. Adjusted earnings per share reached €1.06, representing 50% of the full-year target of €2.10.

Segment results show mixed performance

The Offshore Wind segment generated adjusted EBITDA of €643mn ($701mn), down from €828mn in the same period in 2024. This decrease was mainly due to weaker wind conditions in Europe and lower revenues from electricity sales without guaranteed prices. In contrast, the Onshore Wind and Solar segment increased its revenues to €830mn ($905mn), up from €730mn a year earlier, driven by new generation capacity coming online.

Flexible Generation posted adjusted EBITDA of €595mn ($648mn), compared to €1.01bn in 2024, reflecting a forecasted normalisation of margins on forward electricity sales. The Supply and Trading segment saw a sharp decline, delivering only €16mn, versus €318mn previously, due to weak performance in proprietary trading.

Growing portfolio despite debt pressure

Since the end of June 2024, RWE has commissioned 2.1 gigawatts (GW) of new capacity, including 700 megawatts (MW) during the first half. The group now operates an integrated portfolio of 38.4 GW comprising renewables, batteries and flexible generation. Currently, 11.2 GW are under construction, with more than 3 GW scheduled to be commissioned by the end of 2025.

Net debt stood at €15.5bn ($16.94bn) as of June 30, 2025, up from the end of 2024, mainly due to net investments of €2.5bn. RWE plans to invest €7bn ($7.65bn) over the full year while keeping within its internal leverage limit of 3.0 times adjusted EBITDA.

Forecasts confirmed and long-term targets unchanged

RWE confirmed its guidance for the full year 2025, with adjusted EBITDA expected between €4.55bn and €5.15bn, and adjusted net income between €1.3bn and €1.8bn. The company also plans to raise its dividend to €1.20 per share.

Long-term targets remain unchanged, with adjusted earnings per share expected to reach approximately €3 in 2027 and €4 in 2030. “Our portfolio expansion is progressing rapidly,” said Markus Krebber, Chief Executive Officer of RWE AG, as quoted in the release.

Ghana will receive increased backing from the World Bank to stabilise its electricity grid, as the country faces more than $3.1bn in energy debt.
Repsol has launched a pilot platform of AI multi-agents, developed with Accenture, to transform internal organisation and improve team productivity.
ABB recorded double-digit growth in sales of equipment for data centres, contributing to a 28% increase in net profit in the third quarter, surpassing market expectations.
UK power producer Infinis has secured a £391mn ($476mn) banking agreement to support the next phase of its solar and energy storage development projects.
The Nexans Board of Directors has officially appointed Julien Hueber as Chief Executive Officer, ending Christopher Guérin’s seven-year tenure at the helm of the industrial group.
JP Morgan Chase has launched a $1.5 trillion, ten-year investment initiative targeting critical minerals, defence technologies and strategic supply chains across the United States.
Amid rising global demand for low-carbon technologies, several African countries are launching a regional industrial strategy centred on domestic processing of critical minerals.
Maersk and CATL have signed a strategic memorandum of understanding to strengthen global logistics cooperation and develop large-scale electrification solutions across the supply chain.
ABB made several attempts to acquire Legrand, but the French government opposed the deal, citing strategic concerns linked to data centres.
Aramco becomes Petro Rabigh's majority shareholder after purchasing a 22.5% stake from Sumitomo, consolidating its downstream strategy and supporting the industrial transformation of the Saudi petrochemical complex.
Chevron India expands its capabilities with a 312,000 sq. ft. engineering centre in Bengaluru, designed to support its global operations through artificial intelligence and local technical expertise.
Amid rising energy costs and a surge in cheap imports, Ineos announces a 20% workforce reduction at its Hull acetyls site and urges urgent action against foreign competition.
Driven by growing demand for strategic metals, mining mergers and acquisitions in Africa are accelerating, consolidating local players while exposing them to a more complex legal and regulatory environment.
Ares Management has acquired a 49% stake in ten energy assets held by EDP Renováveis in the United States, with an enterprise value estimated at $2.9bn.
Ameresco secured a $197mn contract with the U.S. Naval Research Laboratory to upgrade its energy systems across two strategic sites, with projected savings of $362mn over 21 years.
Enerflex Ltd. announced it will release its financial results for Q3 2025 before markets open on November 6, alongside a conference call for investors and analysts.
Veolia and TotalEnergies formalise a strategic partnership focused on water management, methane emission reduction and industrial waste recovery, without direct financial transaction.
North Atlantic and ExxonMobil have signed an agreement for the sale of ExxonMobil’s stake in Esso S.A.F., a transaction subject to regulatory approvals and financing agreements to be finalised by the end of 2025.
The Canadian pension fund takes a strategic minority stake in AlphaGen, a 11 GW U.S. power portfolio, to address rising electricity demand from data centres and artificial intelligence.
Minnesota’s public regulator has approved the $6.2bn acquisition of energy group Allete by BlackRock and the Canada Pension Plan, following adjustments aimed at addressing rate concerns.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.