Rwe Ag Ord S/Adr (RWEOY) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.180 Welcome to the RWE Conference Call. Michael Mueller, CFO of 00:00:05.180 -- 00:00:10.549 RWE AG, will inform you about the developments in the first quarter of fiscal 00:00:10.549 -- 00:00:15.337 year 2026. I will now hand over to Thomas Denney. 00:00:15.337 -- 00:00:17.798 Please go ahead. 00:00:18.843 -- 00:00:23.992 Good afternoon from Essen and thank you for joining the RWE Q1 Investor and Analyst Conference 00:00:23.992 -- 00:00:29.047 Call today. Our CFO, Michael Müller, will guide you through our key highlights and the 00:00:29.047 -- 00:00:33.834 financial performance of the first quarter, as well as the outlook for the current year. 00:00:33.834 -- 00:00:36.257 And with this, let me hand over to you, Michael. 00:00:36.257 -- 00:00:40.063 Thanks, Thomas, and good afternoon to all of you. 00:00:40.063 -- 00:00:43.348 We had a good start into 2026. 00:00:43.348 -- 00:00:48.496 Adjusted EBITDA stood at 1.6 billion euros and adjusted net income at 600 00:00:48.496 -- 00:00:53.305 million euros on the back of a strong financial performance. 00:00:53.305 -- 00:00:58.370 Earnings per share was 0.85 euros, 25% up year on 00:00:58.370 -- 00:01:03.736 year. We have already achieved 33% of our full-year adjusted EPS 00:01:03.736 -- 00:01:09.242 guidance, and thus we confirm our guidance, and we are now even more confident 00:01:09.242 -- 00:01:11.825 of achieving our targets. 00:01:11.825 -- 00:01:16.990 All of our offshore wind projects under construction are on budget and on schedule to 00:01:16.990 -- 00:01:19.913 achieve our planned CODs. 00:01:19.913 -- 00:01:25.001 Furthermore, We have reached key milestones at our Danish, Thor and 00:01:25.001 -- 00:01:28.484 British Sophia projects. 00:01:28.484 -- 00:01:33.749 Both projects g...