The following is a summary of the RWE Aktiengesellschaft (RWEOY) Q4 2023 Earnings Call Transcript:
Financial Performance:
RWE reported a strong operating performance in 2023, exceeding its financial targets.
Reported an earnings per share of €2.6 for 2024, marking an optimistic financial outlook.
Adjusted EBITDA increased by 33% YoY, signaling robust earnings growth.
Adjusted net income for 2023 was at €4.5 billion, indicative of good financial health.
Despite increased net debt due to acquisitions and investments, RWE maintains a stable financial situation, as seen in the confirmed credit ratings of BBB+ and Baa2.
Business Progress:
RWE continues to invest in its green portfolio, illustrated by the acquisition of Con Edison Clean Energy Businesses and the addition of 6.3 gigawatts of green capacities.
The company has shown remarkable commitment to its green transformation, reducing CO2 emissions by 27% YoY.
RWE looks optimistic for its 2024 financial performance, with promising Adjusted EBITDA projections for its offshore wind and onshore & solar segments.
The company confirms the phasing out of its coal and nuclear businesses starting from 2024, depending on suitable market conditions.
A dividend target of €1.10 per share has been set for 2024, reflecting confidence in the company's growth prospects.
More details: RWE AG ADR EACH REPR 1 ORD NPV IR
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