RWE’s Quarterly Loss Narrows on Generation, Cost Cuts
- Utility turns power generation into profit, has trading loss
- Nuclear deal with government looks likely, CFO says on call
This article is for subscribers only.
RWE AG’s second-quarter loss narrowed by 22 percent after an improved performance in the German utility’s power plant business, cost cuts and a one-time lower tax rate. Its shares rose the most in almost a month.
The Essen-based company reduced its adjusted net loss to 259 million euros ($289 million) in the three months through June, based on Bloomberg calculations using first-quarter and first-half numbers. RWE reiterated its forecast for an adjusted net income of 500 million euros to 700 million euros for this year.