RWE reported a sharp increase in earnings for the first half of 2026 (H1 2026), with adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) reaching €3bn ($3.47bn), compared with €2.1bn a year earlier.
The results cover the six months to 30 June 2026 and follow an increase in the company’s earnings guidance for 2026 and 2027, announced in July.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The German energy group credited stronger operating performance across its businesses, including offshore and onshore wind, solar, flexible generation, battery storage and energy trading.
Better wind conditions in Europe, newly commissioned renewable and storage assets and a €332m compensation payment from the Dutch state all contributed to the improvement.
Adjusted net income rose to €1.3bn from €800m, while adjusted earnings per share increased from €1.08 to €1.77.
RWE has added 2.6GW of generation capacity since June 2025. It commissioned a further 752MW H1 2026, taking its portfolio of renewables, flexible generation and battery storage to almost 41GW. Another 10.3GW is under construction.
The company’s offshore wind business generated adjusted EBITDA of €810m, up from €643m, largely because wind conditions recovered from the weak first half of 2025. Onshore wind and solar earnings increased to €1.02bn from €830m.
Flexible Generation produced the largest segment increase, with EBITDA rising from €606m to €1.03bn. The figure included compensation from the Dutch Government after restrictions on coal-fired generation at RWE’s Eemshaven plant caused losses in 2022. Higher UK capacity-market revenues also supported the result.
RWE’s trading business recovered from a weak start to the year, generating €134m in adjusted EBITDA compared with €16m previously.
CEO Markus Krebber said the company had “significantly strengthened its platform for long-term earnings growth”.
“With total net investments of €42bn through to 2031, we will consistently capitalise on these opportunities in a value-accretive way,” he said.
RWE invested €6.3bn net during the first six months. Following its planned increase in ownership of transmission operator Amprion, full-year net investment is now expected to reach €9bn–€11bn, compared with the previous €6bn–€8bn forecast.
Net debt stood at €15bn at the end of June.
Despite the investment programme, RWE expects its leverage ratio to remain below its target range of 3–3.5 times.
