Strong Financial Performance Despite Challenges
RWE delivered a good financial performance in the first half of 2025 with adjusted EBITDA at EUR 2.1 billion and adjusted net income at EUR 0.8 billion, reaching 50% of the full year guidance midpoint.
Construction Program Progress and Milestones
Around 11 gigawatts of capacity are under construction with more than 3 gigawatts expected to become operational in the second half of 2025. Key projects like the Sofia project in the UK and Thor in Denmark are progressing as planned.
Attractive Shareholder Returns
RWE is on track to deliver an 18% EPS CAGR to 2027, with a 13% target to 2030. The company also plans an annual dividend increase of 5% to 10% and is executing a EUR 1.5 billion share buyback program.
Positive Developments in Core Markets
RWE sees improved investment frameworks in the UK, with the AR7 auction rules favoring renewable energy strategies, and in Germany, with policies focused on cost efficiency and security of supply.
Strong US Market Potential
The passage of The Big Beautiful Bill in the US provides continued tax support for build-out, with RWE maintaining strict investment criteria to leverage opportunities.