FRANKFURT, Aug 8 (Reuters) – E.ON, Germany’s
biggest utility, is expected to report a 14 percent drop in
first-half core earnings next week, hit by subdued demand for
energy in Europe, low wholesale power prices and a weakening
economy and currency in Russia.
Earnings before interest, tax, depreciation and amortisation
(EBITDA) are forecast to have fallen to 4.9 billion euros ($6.6
billion), according to the average forecast of analysts compiled
by Thomson Reuters.
FRANKFURT, Aug 7 (Reuters) – SMA Solar, Germany’s
biggest solar group by sales, posted its seventh straight
quarterly operating loss and warned on Thursday of high pricing
pressure in coming months as it struggles to get back to
Like others in the sector, SMA has been squeezed by a global
glut of solar equipment and dwindling subsidies for
solar-generated energy in Europe, driving out of business many
who were unable to lower costs as fast as prices fell.
FRANKFURT (Reuters) – At least four final bidders have been chosen for German regional gas grid operator EVG Thueringen, three people familiar with the matter told Reuters on Tuesday.
Jointly owned by German utility E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) and gas firm VNG AG [VNG.UL], final bids for EVG Thueringen are due to be submitted at end-September and are expected in the range of 350 to 400 million euros ($469-536 million), the sources said.
FRANKFURT, Aug 1 (Reuters) – German specialty chemicals
maker Wacker Chemie said its core profit rose by more
than a fifth in the second quarter, driven by a recovery in
prices and demand for polysilicon, its most important product,
which is needed to make solar cells.
Wacker Chemie said on Friday its second-quarter earnings
before interest, tax, depreciation and amortisation (EBITDA)
reached 229.5 million euros ($307.2 million), beating the 221
million average analyst forecast in a Reuters poll.
FRANKFURT, July 30 (Reuters) – SMA Solar,
Germany’s biggest solar company by revenue, said it will cut 12
percent of its workforce after competition from Asia and a
decline in Europe’s solar sector forced it to lower its outlook
for sales and profit.
The 600 job losses by the end of 2015 are SMA Solar’s second
major round of layoffs in as many years. The company has been
badly hit by falling solar power subsidies in Europe, most
notably in its home market Germany, where the company makes
about 28 percent of its sales.
ESSEN, Germany, July 17 (Reuters) – RWE Innogy, the
renewables arm of RWE, expects profits to grow
strongly over the next two years and is interested in investing
in Britain even though the company abandoned a major windfarm
project there last year.
“We see our share of RWE’s total operating profit standing
at about 10-15 percent in the mid-term, this corresponds with
the planned level of investment,” Hans Buenting, chief executive
of RWE Innogy, told Reuters in an interview.
FRANKFURT, July 15 (Reuters) – Last November, Felix Lindner
came very close to shutting down the power supply of Ettlingen,
a town of almost 40,000 people in the south of Germany.
“We could have switched off everything: power, water, gas,”
Lindner, head of Berlin-based Recurity Labs, an IT security
MANNHEIM, Germany, July 7 (Reuters) – MVV Energie
expects profits to recover from next year, its chief executive
said, as Germany’s fifth-largest utility banks on investments in
wind and biomass projects to escape a crisis in conventional
Hit by a massive decline in wholesale power prices,
Mannheim-based MVV has seen its profits shrink by 14 percent
over the last four fiscal years and like larger peers E.ON
, RWE, EnBW and Vattenfall’s
German unit, is cutting costs and investing in new
FRANKFURT, June 2 (Reuters) – Globally installed solar
capacity will nearly triple over the next four years, boosted by
strong growth in Asia, which dethroned Europe as the world’s
biggest solar market last year, according to a major industry
Cumulative photovoltaic installations are seen rising to
about 374 gigawatt (GW) in 2018, compared with 139 GW last year,
the European Photovoltaic Industry Association (EPIA) said on
Monday in its annual market report.
BURGHAUSEN, Germany/GEISMAR (Reuters) – Nestled in the green hills of southern Germany, chemical giant Wacker Chemie churns out a wide range of products, from an ingredient for chewing gum to the polysilicon crystals in solar cells.
The electricity to produce all that – enough power for more than 700,000 households annually – has become more costly at Wacker’s main factory in Burghausen. It has played a big part in pushing up the firm’s total energy bill by 70 percent over the last five years, to nearly half a billion euros.