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Windtech International May June 2024 issue






RWE expects to close fiscal 2022 with an adjusted net income of €3.2 billion according to preliminary figures. The forecast is thus expected to be exceeded. RWE has increased net cash investments to €4.4 billion in 2022 compared to €2.9 billion in 2021. A driver of the growth in earnings year-on-year is the increase in generation capacity based on renewables.
RWE commissioned the offshore wind farm Triton Knoll off the British coast at the beginning of 2022. In addition, the turbines at the newly built Kaskasi offshore wind farm off the German island of Heligoland have been feeding green electricity into the grid with all turbines since the end of the year. In contrast to the trend in RWE’s international core business, the German coal and nuclear energy business is expected to record lower earnings in fiscal 2022 than 2021.

RWE Group’s adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) is expected to reach €6.3 billion, exceeding the forecast range. Adjusted EBITDA in the core business is assumed to be €5.6 billion, which is also above the upper end of the forecast range. For fiscal 2022, an adjusted net income of €3.2 billion is expected, which is also more than forecast.
Offshore Wind: Adjusted EBITDA in the Offshore Wind segment is expected to be €1,412 million, compared to the prior year figure of €1,110 million, driven by the commissioning of new capacity. Wind levels were higher year-on-year, however, they were still below the long-term average.
Onshore Wind/Solar: Adjusted EBITDA in the Onshore Wind/Solar segment is expected to be €827 million compared to €258 million in fiscal 2021. Here, too, additional capacity and more favourable wind conditions had a positive impact, although wind levels were again below expectations. In addition, the previous year’s earnings included substantial one-off burdens due the extreme cold snap in Texas in February 2021.
Final figures for fiscal 2022 will be released as planned on 21 March 2023.
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