RWE Suffers First Loss Since Founding of German Republic
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RWE AG had its first full-year loss since the foundation of the Federal Republic of Germany in 1949 as slumping power prices led to billions of euros in writedowns.
The country’s largest power generator posted a net loss of 2.76 billion euros ($3.8 billion) on sales of 54.1 billion euros after a profit of 1.31 billion euros, it said in a statement. It wrote down 4.8 billion euros on assets, mainly power stations.