Rwe Ag Ord S/Adr (RWEOY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the RWE conference call. Michael Mueller, CFO of RWE AG, will inform you about the developments in the first three quarters of fiscal 2025. I will now hand over to Thomas Denny. Thank you, Laura, and welcome and good afternoon from Essen. Thank you for joining RWE's nine-month investment analyst conference call today. Our CFO, Michael Müller, will guide you through our key highlights and financial performance for the first nine months and the outlook for the current year. And with that, let me hand over to Michael. Thanks Thomas, and also good afternoon to all of you. In the first nine months of 2025, our portfolio has shown a strong financial performance. We have achieved more than 80% of our full year 2025 adjusted EPS target. In the UK, we concluded the sale of a data center development project at a former RDB power plant site to a hyperscaler. The transaction was closed and the proceeds received in October. The book gain of 225 million euros is reported as non-recurring in the Q3 2025 adjusted EBITDA of the flexible generation segment. This is the second such transaction with a hyperscaler. Last year, we sold the site in Germany to Microsoft. Both transactions demonstrate the value of RWE's existing sites. These sites can be used for data center development projects as well as for new battery storage facilities or gas-fired power plants. Our build-out program is progressing well, with 11.4 GW under construction as at the end of Q3. More than 2 gigawatts are scheduled to start operation by the end of the year. All of our offshore construction projects are well on schedule. In September this year, we entered into the long-term partnership with Apollo Global Management to secure funding for our 25.1 stake in Amprion. Apollo has contributed 3.2 billion eur...