RWE AG announced on Wednesday that its adjusted net income in the first quarter of fiscal 2024 amounted to €0.8 billion, sliding from €1.3 billion recorded in the same timeframe in 2023.
In the January to March period, adjusted core profit (EBITDA) stood at €1.7 billion, significantly down from €2.3 billion registered a year prior. Year over year, external revenue slumped 29% to €6.63 billion, while net income improved by 19% to €1.9 billion, and earnings per share surged 20% to €2.58.
"We can look back on a solid first quarter of 2024, with significant increases in earnings in both Offshore Wind and Onshore Wind/Solar. This shows that our investments are paying off. In the first three months of the year, 42% of our electricity generation came from renewable sources - and we are continuing to invest massively. Currently, we have projects with a total capacity of 8.3 gigawatts under construction," CFO Michael Muller said.
