Junius • Fri, Nov. 14
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- RWE reports a 62% fall in first-half profits.
- Energy reforms in Germany have so far not been as comprehensive as initially expected.
- With the substantial rise in the value of the shares since the election, RWE is relatively unattractive against UK and French peers.
- RWE's campaign for its lignite power generation business is unlikely to yield significant improvement to profitability.
- The summer will bring more wholesale power market price weakness. The company needs to reshape completely, which will take a long time.
- The shares trade in line with the sector, and do not justify any premium. After recent strong performance, look for a correction.
- RWE AG is Germany's largest seller of electricity. Therefore, its profitability is heavily linked with the 'Energiewende'.
- This program has induced a huge decrease in electricity wholesale prices and made many of RWE's production facilities unprofitable.
- After the German elections (last September) reform of the 'Energiewende' is realistic. RWE should profit from it.
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RWEOY vs. ETF Alternatives
RWE AG is a German electric utilities company based in Essen, North Rhine-Westphalia. Through its various subsidiaries, the energy company supplies electricity and gas to more than 20 million electricity customers and 10 million gas customers, principally in Europe. RWE is the second largest... More
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