Thursday April 24, 2014



German utility RWE raises 2012 outlook slightly as it reports 3rd-quarter profit


In this June 22, 2011 photo the logo of electricity and gas supplier RWE AG is photographed in Essen, Germany. THE CANADIAN PRESS/AP, Frank Augstein

BERLIN - German utility RWE AG has revised its full-year earnings outlook slightly upward as it reports a profit and improved revenue for the third quarter.

The electricity and gas supplier said Wednesday that it now expects to "at least match" last year's pre-tax and operating earnings figures. It previously forecast that this year's figures would be "comparable to" those for 2011.

RWE earned 296 million ($376 million) in the July-September period, compared with a net loss of 174 million a year earlier. Revenue rose to 11.27 billion from 10.71 billion.

Last year, RWE and other energy companies were hit by costs related to Germany's decision to accelerate its exit from nuclear energy. RWE also pointed to progress it has made recently in selling assets.


Comments


NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Pipeline News North welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

blog comments powered by Disqus


About Us | Advertise | Contact Us | Sitemap / RSS   Glacier Community Media: www.glaciermedia.ca    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy

LOG IN



Lost your password?