RWE Raises Full Year Earnings Expectations After Strong Nine Month Performance
ESSEN, Germany, November 12, 2026, ZEX PR WIRE, German energy company RWE reported higher earnings for the first nine months of 2026 and said it expects full year results towards the upper end of its previously announced forecast ranges. Adjusted EBITDA increased 35% to €4.6 billion, compared with €3.4 billion in the corresponding period last year.
Adjusted net income rose to €1.8 billion from €1.3 billion, while adjusted earnings per share increased to €2.52 from €1.77. The company said it had already achieved approximately 85% of its full year adjusted earnings per share target after the first three quarters.
The results reflect higher earnings contributions across RWE’s business segments, including renewable energy, flexible generation and energy trading.
Renewable generation supports earnings
RWE said more favourable wind conditions in Europe and the commissioning of new assets contributed to higher earnings. Its Offshore Wind division recorded adjusted EBITDA of €1.11 billion for the first nine months, compared with €915 million a year earlier.
The Onshore Wind and Solar division generated adjusted EBITDA of €1.497 billion, up from €1.242 billion. The increase was mainly driven by additional generation capacity and more favourable wind conditions.
These results demonstrate how weather conditions and the timing of new project commissioning can influence renewable energy companies’ financial performance. Generation volumes, electricity prices and operating costs remain important variables for the sector.
Trading and flexible generation improve
RWE’s Supply and Trading division recorded adjusted EBITDA of €543 million, compared with €150 million in the previous year. The company said trading performance improved significantly after a weaker start to the year.
Flexible Generation also contributed to the increase, with adjusted EBITDA rising to €1.343 billion from €1.076 billion. Higher margins and capacity payments in the United Kingdom supported the segment’s performance.
These businesses provide RWE with earnings exposure beyond renewable generation, although their results can be influenced by electricity market conditions, fuel costs and trading activity.
Investment programme and dividend outlook
RWE invested €10.7 billion net during the first nine months of 2026. Its projects include renewable energy, battery storage and an increased stake in transmission system operator Amprion.
The company confirmed its full year adjusted EBITDA guidance of €5.75 billion to €6.35 billion and adjusted net income guidance of €1.95 billion to €2.45 billion. Management expects results towards the upper end of these ranges.
RWE also reaffirmed its dividend target of €1.32 per share for 2026 and its intention to increase the dividend by 10% annually through 2031.
The latest results place RWE among European energy companies benefiting from investment in electricity generation and infrastructure. Investors will continue to monitor project delivery, capital expenditure and the company’s ability to maintain earnings growth as its asset portfolio expands.
