RWE AG (OTCPK:RWEOY)

$ 32.49 -0.81 (-2.43%) Market Cap: 24.17 Bil Enterprise Value: 27.27 Bil PE Ratio: 7.90 PB Ratio: 0.69 GF Score: 74/100

Q1 2024 RWE AG Earnings Call Transcript

May 15, 2024 / 11:00AM GMT

Release Date Price: $38.74 (+2.10%)

Transcript

Operator

Welcome to the RWE conference call. Michael Muller, CFO of RWE AG, will inform you about the developments in the first quarter of fiscal 2024. I will now hand over to Thomas Denny.

Thomas Denny

RWE Aktiengesellschaft - Head of IR

Thank you, operator, and good afternoon, ladies and gentlemen. Thank you for joining the Q1 2024 RWE Investor Analyst Conference Call today. Our CFO, Michael Muller, will guide you through our key highlights and financial performance for the first quarter and the outlook for the current year. And with that, let me hand over to you, Michael.

Michael Muller

RWE Aktiengesellschaft - CFO & Member of Executive Board

Yes. Thanks, Thomas, and good afternoon to all of you. First quarter was a solid start into 2024. Adjusted EBITDA stood at EUR 1.7 billion, driven by good wind conditions in our offshore business, capacity additions in the onshore business and a good trading performance. Earnings in flexible generation were lower after exceptional market conditions in the previous year. We

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