RWE Aktiengesellschaft (RWEOY) Q3 2023 Earnings Call Transcript


RWE Aktiengesellschaft (OTCPK:RWEOY) Q3 2023 Earnings Conference Call November 14, 2023 4:00 AM ET

Company Participants

Michael Muller – Chief Financial Officer

Thomas Denny – Head of Investor Relations

Markus Krebber – Chief Executive Officer

Conference Call Participants

Peter Bisztyga – Bank of America

Vincent Ayral – JPMorgan

Alberto Gandolfi – Goldman Sachs

Deepa Venkateswaran – Bernstein

Rob Pulleyn – Morgan Stanley

Meike Becker – HSBC

Harry Wyburd – Exane

Sam Arie – UBS

Louis Boujard – ODDO BHF

Piotr Dzieciolowski – Citi

Louis Boujard – ODDO BHF

Piotr Dzieciolowski – Citi

Olly Jeffery – Deutsche Bank

Tancrede Fulop – Morningstar

Thomas Denny

Good afternoon, ladies and gentlemen. Thank you for joining the RWE Investor and Analyst Conference Call today. Our CFO, Michael Muller, will guide you through our key highlights and financial performance of the first nine months of the year. But before I hand over to Michael, let me remind you of our Capital Markets Day in London in two weeks from today. We will present an update of our growing risk strategy in new mid- and long-term financial targets. For those who join us in-person, we also offer breakout sessions with operational management. If you have not yet registered, please reach out to the RWE Investor Relations team.

And with this, over to you, Michael.

Michael Muller

Yes. Thanks, Thomas, and also good afternoon from my side. We’ve continued with our strong performance in 2023. Our earnings in the first nine months more than doubled. Adjusted EBITDA developed well across all segments, especially driven by capacity additions and strong earnings from flexible generation and Supply & Trading. We confirm our earnings guidance for the full year. The development of green capacity underlines the progress on our growth strategy. We have added 5.7 gigawatts of capacity to our portfolio, including the acquisition of Con Edison Clean Energy businesses with 3.1 gigawatts, mainly



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