Rwe Ag Ord S/Adr (RWEOY) Q1 2025 Earnings Call

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WEBVTT 00:00:01.381 -- 00:00:04.185 Thank you, George, and good afternoon from Essen. 00:00:04.185 -- 00:00:07.969 And to investors and analysts, you know, I know it's a busy day for you, so special thanks 00:00:07.969 -- 00:00:12.355 for joining the RWE Q1 investor and analyst conference call today. 00:00:12.355 -- 00:00:16.500 Our CFO, Michael Muller, will guide you through our key highlights and financial performance 00:00:16.500 -- 00:00:19.564 of the first quarter and the outlook for the current year. 00:00:19.564 -- 00:00:21.707 And with that, let me hand over to Michael. 00:00:21.707 -- 00:00:26.513 Yeah, thanks, Thomas, and also good afternoon to all of you from my side. 00:00:26.513 -- 00:00:30.556 RWE had a solid start into 2025. 00:00:30.997 -- 00:00:36.586 Adjusted EBITDA stood at 1.3 billion euros and adjusted net income at 500 00:00:36.586 -- 00:00:42.455 million euros, despite weak wind conditions in the first quarter. 00:00:42.455 -- 00:00:46.902 We confirmed the guidance for the full year we presented in March, which already reflected 00:00:46.902 -- 00:00:50.645 the weak wind conditions until then. 00:00:50.708 -- 00:00:55.756 Our 1.5 billion share buyback program is making good progress and the first 500 00:00:55.756 -- 00:01:00.427 million euro tranche will be completed by the end of the month. 00:01:00.427 -- 00:01:04.251 Shortly thereafter, we will start the second tranche. 00:01:04.251 -- 00:01:09.956 The full program will be completed by May 2026 as planned. 00:01:11.019 -- 00:01:16.303 We are also well underway with our offshore portfolio optimization. 00:01:16.365 -- 00:01:21.611 We successfully sold down 49% equity stake in our 1.6 gigawatt 00:01:21.611 -- 00:01:27.137 North Sea cluster and our 1.1 gigawatt Thor offshore project at an attra...