German energy group RWE AG on Monday upgraded its outlook for 2026 following stronger-than-expected results in the first half of the year.
The company now expects adjusted EBITDA of between €8.5 billion and €9.5 billion for 2026, up from a prior range of €7.5 billion to €8.5 billion. RWE attributed the upward revision to higher renewable energy generation, improved power prices, and stable operating margins.
First-half 2026 adjusted EBITDA rose to €4.3 billion from €3.8 billion in the same period a year earlier, reflecting increased wind and solar output and disciplined cost management. The group maintained its dividend policy, reaffirming a payout of €1.20 per share for fiscal 2026.
RWE’s CEO Markus Krebber said the improved outlook underscores the resilience of its diversified energy portfolio amid volatile market conditions. The company’s renewable energy segment, which includes onshore and offshore wind farms, contributed the bulk of the gains, while conventional power generation units remained steady.
Analysts at Commerzbank noted that RWE’s guidance revision aligns with broader trends in Europe’s energy sector, where utilities are benefiting from higher carbon prices and accelerated renewable capacity additions. The bank maintained a buy rating on RWE shares, citing the company’s strong project pipeline and exposure to high-margin renewables.
RWE’s shares were up 2.1% in early trading on Monday, outperforming the Euro Stoxx Utilities index, which fell 0.4%. The company’s market capitalization now exceeds €30 billion, supported by steady cash flows and a low debt-to-EBITDA ratio.
The improved guidance follows RWE’s recent completion of several large-scale offshore wind projects in the North Sea, which are expected to come online by 2027, further bolstering its long-term growth prospects.
