The German utility giant RWE has seen earnings rise in the first six months of the year to €3.2 billion.
The firm said today (14 August) it was “satisfied” with its performance in the first six months of 2017, and announced adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), which has increased by 7 per cent on the same time period last year, when it stood at €3 billion.
Net income was up by €457 million on the first half of 2016 and amounted to €2.7 billion in the first six months of this year.
In a statement, the company said this was in part due to a nuclear fuel tax refund from the German government, following a court ruling in early June.
For the year as a whole, RWE said it continues to expect adjusted EBITDA of between €5.4 billion and €5.7 billion, and adjusted net income of between €1 billion and €1.3 billion.
“We used the first half of this year to further develop our company, in line with our strategy,” said RWE AG chief executive, Rolf Martin Schmitz.
“These efforts include forward-looking projects intended to successfully position the company to achieve our main aim of ensuring security of supply.”
In the financial statement, the German giant mentioned it has also taken some initial steps at the Tilbury power station site in Essex regarding building an energy centre.
The proposals, which were floated last month, feature a combined-cycle gas turbine (CCGT) plant with a capacity of up to 2.5GW, the option for an open-cycle gas turbine (OCGT) with a capacity of up to 300MW, as well as an energy storage facility of an undisclosed size.