RWE is an electricity and gas company. The Conventional Power Generation segment consists of the activities of RWE Power, Essent and RWE npower. The Supply/Distribution Networks Germany segment supplies electricity, gas and heat. The Supply Netherlands/Belgium segment comprises the activities of Essent in the Netherlands. The Supply United Kingdom segment comprises the operations of RWE npower. The Central Eastern and South Eastern European segment contains activities in the Czech Republic, Hungary, Poland, Slovakia, Turkey and Croatia. The Renewables, Upstream Gas & Oil and Trading/Gas Midstream segments include the activities of RWE Innogy, RWE Dea and RWE Supply & Trading, respectively.
  • Ticker703712
  • ISINDE0007037129
  • SectorGas, Water & Multi-utilities
  • CountryGermany

Analysts

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral or negative price trends. We highlight several Australian names, and would use recent broad market weak...

Alfred Glaser ...
  • Delphine Brault
  • Emmanuel Matot
  • Khaled Ben Amor
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/14/2019

...

Alfred Glaser ...
  • Delphine Brault
  • Emmanuel Matot
  • Khaled Ben Amor
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/08/2019

...

Khaled Ben Amor ...
  • Louis Boujard
  • Philippe Ourpatian

RWE : H1 2019 results above expectations – Guidance 2019 reiterated

>H1 2019 results above expectations - RWE released this morning H1 2019 results above our and the consensus expectations driven by an outstanding performance in the supply & trading division. EBITDA totalled €1372m vs € 1,140m inH1 2018 (vs ODDO BHF and consensus at € 1,355m), EBIT came in at €1,049m vs € 870m in H1 2018 (vs ODDO BHF at € 1,031m and the consensus at € 1,034m) and adjusted net income totalled € 914m vs € 683m in H1 2018 (vs ODDO BHF at €883 and the co...

Khaled Ben Amor ...
  • Louis Boujard
  • Philippe Ourpatian

RWE : H1 2019 results above expectations – Guidance 2019 reiterated

>H1 2019 results above expectations - RWE released this morning H1 2019 results above our and the consensus expectations driven by an outstanding performance in the supply & trading division. EBITDA totalled €1372m vs € 1,140m inH1 2018 (vs ODDO BHF and consensus at € 1,355m), EBIT came in at €1,049m vs € 870m in H1 2018 (vs ODDO BHF at € 1,031m and the consensus at € 1,034m) and adjusted net income totalled € 914m vs € 683m in H1 2018 (vs ODDO BHF at €883 and the co...

Moody's announces completion of a periodic review of ratings of RWE AG

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of RWE AG. Global Credit Research- 02 Apr 2019. London, 02 April 2019-- Moody's Investors Service has completed a periodic review of the ratings of RWE AG and other ratings that are associated with the same analytical unit.

RWE AG: Update to credit analysis

Our credit view of RWE highlighting the company's exposure to generation market and potential transformation in the context of the transaction with E.ON.

RWE AG: Key Facts and Statistics

A summary company profile, detailing RWE AG’s business operations and financial highlights.

RWE AG: Hambach forest ruling credit negative

A short comment on the impact of the court ruling on clearance of Hambach forest.

RWE AG: Update following a rating confirmation at Baa3/Ba2

Our credit view of RWE highlighting the company's exposure to generation market and potential transformation in the context of the transaction with E.ON.

Khaled Ben Amor ...
  • Louis Boujard
  • Philippe Ourpatian

RWE : H1 2019 results above expectations – Guidance 2019 reiterated

>H1 2019 results above expectations - RWE released this morning H1 2019 results above our and the consensus expectations driven by an outstanding performance in the supply & trading division. EBITDA totalled €1372m vs € 1,140m inH1 2018 (vs ODDO BHF and consensus at € 1,355m), EBIT came in at €1,049m vs € 870m in H1 2018 (vs ODDO BHF at € 1,031m and the consensus at € 1,034m) and adjusted net income totalled € 914m vs € 683m in H1 2018 (vs ODDO BHF at €883 and the co...

Khaled Ben Amor ...
  • Louis Boujard
  • Philippe Ourpatian

RWE : H1 2019 results above expectations – Guidance 2019 reiterated

>H1 2019 results above expectations - RWE released this morning H1 2019 results above our and the consensus expectations driven by an outstanding performance in the supply & trading division. EBITDA totalled €1372m vs € 1,140m inH1 2018 (vs ODDO BHF and consensus at € 1,355m), EBIT came in at €1,049m vs € 870m in H1 2018 (vs ODDO BHF at € 1,031m and the consensus at € 1,034m) and adjusted net income totalled € 914m vs € 683m in H1 2018 (vs ODDO BHF at €883 and the co...

Jean-Christophe Dourret

RWE : RWE - 22 Jul 2019

...

Jean-Christophe Dourret

RWE : RWE - 22 juill 2019

...

Tancrede Fulop

Morningstar | Increasing RWE’s Fair Value Estimate to EUR 25.5 on Higher Renewables Growth; Shares Undervalued

We are increasing our fair value estimate from EUR 19.30 to EUR 25.50 per share for RWE, chiefly on higher renewables growth. Our new fair value estimate involves a 2020 P/E of 12.5 times and an upside of 14% to the current share price. We reiterate our no-moat and stable trend ratings. Proforma RWE will be the third largest renewable player in Europe and the second global player in offshore wind. Renewables will produce a 2020 EBITDA of EUR 1.8 billion by our estimates, growing to EUR 2.3 billion in 2023 on the back of growth investments, accounting for 65% of the group’s EBITDA in 2023. Thi...

1 director bought

A director at RWE Ag bought 1,100 shares at 23.557EUR and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Alfred Glaser ...
  • Delphine Brault
  • Emmanuel Matot
  • Khaled Ben Amor
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/14/2019

...

Alfred Glaser ...
  • Delphine Brault
  • Emmanuel Matot
  • Khaled Ben Amor
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/08/2019

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Rémi Adam
  • Roland Pfaender
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/16/2019

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Rémi Adam
  • Roland Pfaender
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/05/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

RWE

RWE

RWE

RWE

RWE

ING
Nadège Tillier

European utilities/Dry 2019 to be followed by a flood of supply

2019 will be one of the lowest years of bond supply in Euro for the IG utilities sector. As of today, there is almost nothing left to refinance this year. We would expect EUR bond issuance from Utilities to reach c.€29bn in 2019 (excluding potential US names) vs €34bn in 2018 and €44bn in 2017. The coming years offer a different picture though. From 2020 onwards, higher redemptions and capital expenditure should result in an abundance of bond supply. Redemptions will steadily pick up in the next three years. On top of this, a large number of utilities have announced ambitious capital expenditu...

ING
Nadège Tillier

German coal exit/First draft stipulates a start as soon as 2022

After a nuclear phase-out that should be finalized by 2022, the German utilities sector is preparing itself for a coal and lignite power exit. The main motivation behind the political push for the closure of its most polluting power plants has been the incapacity of the country to reduce its carbon emissions in a significant way. Despite the surge of renewables, Germany will not be able to meet its CO2 target reduction in 2020. The government created a German coal exit commission in order to study the impacts on the energy sector, the economy and labour of a coal power plants shutdown. At the ...

MarketLine Department

Fortum Corporation - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Fortum Corporation Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Fortum Corporation since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. K...

MarketLine Department

EnBW Energie Baden-Wuerttenberg AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's EnBW Energie Baden-Wuerttenberg AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by EnBW Energie Baden-Wuerttenberg AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to susta...

MarketLine Department

CEZ, a. s. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's CEZ, a. s. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by CEZ, a. s. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights T...

Expert Corporate Governance Service (ECGS)

RWE - AGM 03 May 2019

Item 2: Management and Supervisory Board are proposing a dividend of EUR 0.70 per ordinary and per preference share. The dividend is covered by free cash flow but is not covered by earnings. Due to the fact that the dividend is not covered by free cash flow or EPS for a fourth consecutive year, we consider a dividend payment inappropriate at this time and therefore recommend to oppose the dividend proposal. Items 5 and 6: PricewaterhouseCoopers, Essen, is proposed as auditor for the current financial year as well as for the audit-like review of the financial report for the first half of 2019 ...

RWE – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 26/04/2018

General: In February 2018, RWE announced a complex EUR 43bn deal to sell Innogy to E.ON, see section 3.1 for details. Items 5 and 6: PwC, Frankfurt am Main, is proposed as auditor for the current financial year as well as for the audit-like review of the financial report for the first half of 2018 and of the quarterly reports for 2018. We have no concerns over the ratio of nonaudit/ audit fees. However, we note that PwC has audited the Company since at least the financial year 1997 (no earlier data available) which exceeds our maximumacceptable term of office. We therefore recommend opposing ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Favor EAFE over EM The U.S. dollar remains elevated and as long as this remains the case we believe developed international equities (EAFE) will continue to outperform relative to emerging markets (MSCI EM)... see charts below. Below we highlight attractive and actionable themes within developed international: • Australia. Australia's All Ordinaries index exhibits bullish price and RS trends, a rarity when it comes to global markets considering most country-specific indexes display neutral or negative price trends. We highlight several Australian names, and would use recent broad market weak...

Dave Nicoski ...
  • Ross LaDuke

Int'l Macro Vision: Global Ex-U.S. Equity Strategy

In our January 31 International Compass we presented a case for an incrementally improving overall global outlook, with the caveat that market bottoms tend to be a process that develops over many weeks. Since the end of January, not a lot has changed to alter our views. We remain constructive overall and continue to believe that global equities (MSCI ACWI) are going through a bottoming process. Opportunities exist but Sector leadership is mixed. In our February International Strategy, we explore various themes which lead to our overall constructive outlook, along with areas of the market wher...

Jérôme VINERIER

Short term view - RWE : The movement goes on.

The trend is bearish. The movement goes on. The next target is at €16.364, then €14.401. Passing €22.500 would question the continuation of the fall.

Jérôme VINERIER

Analyse court terme - RWE : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 16,364 €, puis 14,401 €. Le franchissement de 22,500 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - RWE : The trend is bearish.

The trend is bearish. The movement goes on. The next target is at €16.364, then €14.401. Passing €22.500 would question the continuation of the fall.

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