Slide 1: 9M 2024 Results
13 Nov 2024 9M 2024 Results Investor & Analyst Conference Call Markus Krebber, CEO Michael Müller, CFO Thomas Denny, Head of Investor Relations 13 Nov 2024 9M 2024 Results
Slide 2: Disclaimer
Disclaimer This document contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promi
Slide 3: Markus Krebber
Markus Krebber Chief Executive Officer, RWE AG 13 Nov 2024 9M 2024 Results Page 3
Slide 4: Our focus is on delivering the Growing Green strategy and maximising shareholder value
Our focus is on delivering the Growing Green strategy and maximising shareholder value Strong Good Reassessed strategy execution financial performance capital allocation €6.9bn €4.0bn Reassessment of RWE’s capital allocation in light of changing invested in 9M Adj. EBITDA 9M 2024 risk-reward environ
Slide 5: Michael Müller
Michael Müller Chief Financial Officer, RWE AG 14 13 Aug Nov 2024 H1 9M 2024 Results 2024 Results Page 5
Slide 6: RWE announces up to €1.5bn share buyback programme
RWE announces up to €1.5bn share buyback programme Details of Volume: up to €1.5bn share buyback Duration: up to 18 months programme Start: Q4 2024 Execution of share buyback based on the “authorisation to implement share Capital buybacks” as granted in AGM 2023, valid until 03 May 2025 authorisatio
Slide 7: Good performance in first 9 months of 2024 after exceptional prior year
Good performance in first 9 months of 2024 after exceptional prior year Adj. EBITDA in EUR m • Offshore Wind earnings up due to better -1,738 5,714 wind conditions 998 • Onshore Wind/Solar result increased on the back of organic growth and CEB 870 3,976 assets 1,079 • Flexible Generation earnings lo
Slide 8: Adjusted net income reflects good performance in first 9 months of 2024
Adjusted net income reflects good performance in first 9 months of 2024 after exceptional prior year Adj. net income in EUR m • Adj. EBITDA lower after exceptional prior 9M 2023 FY 2021 9M 2024 FY 2022 year • Adj. financial result lower due to Adj. EBITDA 5,714 3,976 increased net financial debt 9M
Slide 9: Adjusted operating cash flow marked by seasonal effects in working capital
Adjusted operating cash flow marked by seasonal effects in working capital Reconciliation to adj. operating cash flow for 9M 2024 in EUR m -24 4,362 -616 3,976 1,795 -769 Adj. EBITDA Changes in Changes in Cash Cash Adj. operating provisions/ operating financial result taxes cash flow (non-) cash ite
Slide 10: Net debt mainly driven by growth investments and timing effects
Net debt mainly driven by growth investments and timing effects Development of net debt in 9M 2024 in EUR bn (+ net debt/- net assets) 12.2 -0.1 2.2 1.0 6.6 6.9 -4.4 Net debt Adj. operating Net cash Dividends Other changes in Changes in Net debt 31 Dec 23 cash flow investments net financial debt pro
Slide 11: Outlook for Full Year 2024 improved
Outlook for Full Year 2024 improved Group outlook FY 2024 Divisional outlook FY 2024 in EUR m in EUR m Outlook Adj. EBITDA Outlook Middle of the Range Lower half Adj. EBITDA 5,200 – 5,800 Offshore Wind 1,450 – 1,850 Lower half Adj. depreciation approx. -2,000 Onshore Wind/Solar 1,500 – 1,900 Middle
Slide 12: Appendix
Appendix 13 Nov 2024 9M 2024 Results Page 12
Slide 13: Capacity of >11 GW under construction
Capacity of >11 GW under construction Development of our renewables and flexible generation portfolio GW pro rata +11.2 47.4 0.5 1.4 3.4 1.5 36.2 4.4 35.5 0.7 31 Dec 2023 Capacity 30 Sep 2024 Offshore Onshore Solar Batteries Flexible Total additions Wind Wind Generation & H2 Capacity in operation Pr
Slide 14: Offshore Wind: Earnings up due to better wind conditions
Offshore Wind Earnings up due to better wind conditions Key financials 9M 2024 – Offshore Wind Adj. EBITDA 9M 2024 vs. 9M 2023 in EUR m 9M 2024 9M 2023 Change Wind conditions above normal, last year below normal Adj. EBITDA 1,079 998 81 Higher operations and maintenance costs t/o non-recurring items
Slide 15: Onshore Wind/Solar: Earnings up on the back of organic growth and CEB acquisition
Onshore Wind/Solar Earnings up on the back of organic growth and CEB acquisition Key financials 9M 2024 – Onshore Wind/Solar Adj. EBITDA 9M 2024 vs. 9M 2023 in EUR m 9M 2024 9M 2023 Change Earnings contribution from organic growth and CEB Adj. EBITDA 990 870 120 acquisition t/o non-recurring items -
Slide 16: Flexible Generation: Lower earnings after exceptional market conditions in prior year
Flexible Generation Lower earnings after exceptional market conditions in prior year Key financials 9M 2024 – Flexible Generation Adj. EBITDA 9M 2024 vs. 9M 2023 in EUR m 9M 2024 9M 2023 Change Lower margins from running the asset fleet Adj. EBITDA 1,447 2,413 -966 Higher income from system services
Slide 17: Supply & Trading: Good performance of trading business in first 9 months of 2024
Supply & Trading Good performance of trading business in first 9 months of 2024 Key financials 9M 2024 – Supply & Trading Adj. EBITDA 9M 2024 vs. 9M 2023 in EUR m 9M 2024 9M 2023 Change Performance lower after exceptional prior year Adj. EBITDA 465 1,334 -869 t/o non-recurring items – - - Adj. EBITD
Slide 18: Phaseout Technologies: Adj. cash flow increased due to higher hedged margins
Phaseout Technologies Adj. cash flow increased due to higher hedged margins; partly offset by absence of production from Emsland nuclear power plant Key financials 9M 2024 – Phaseout Technologies Adj. cash flow 9M 2024 vs. 9M 2023 in EUR m 9M 2024 9M 2023 Change Higher hedged margins Adj. cash flow
Slide 19: Economic net debt
Economic net debt Net assets/net debt in EUR m 30 Sep 2024 31 Dec 2023 +/- Net debt definition Cash and cash equivalents 4,517 6,917 -2,400 • Net debt does not contain Marketable securities 6,754 8,114 -1,360 mining provisions, which Other financial assets 3,449 2,529 920 essentially cover our oblig
Slide 20: Your contacts in Investor Relations
Your contacts in Investor Relations Important Links Financial Calendar ADR programme available • Annual and interim reports & statements Further information on our homepage • 20 Mar 2025: Annual Report for fiscal 2024 • Investor and analyst conferences RWE shares/ADR • 30 Apr 2025: Annual General Me