FRANKFURT, May 12 (Reuters) – RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz), Europe’s
fifth-largest utility beat profit forecasts in the first quarter
by gaining market share in Germany and cutting costs in Britain.
Operating earnings in the three months through March were
2.8 billion euros ($4.03 billion), the Essen-based company said
on Thursday, compared with the 2.6 billion euro average of 15
estimates from analysts in a Reuters poll. [ID:nLDE7490QF].
($87 billion) combination in February but the Spanish utility
pulled out of talks, sources familiar with the matter said.
MADRID/FRANKFURT, May 5 (Reuters) – Soaring growth in Brazil
and regulated grid activities helped European utilities offset
weak power prices on the continent in the first quarter, while
companies without overseas businesses suffered.
Spanish utility Iberdrola (IBE.MC: Quote, Profile, Research, Stock Buzz), whose international
activities make up 60 percent of its business, reported 4
percent growth in its first-quarter operating profit, while
domestic peer Gas Natural (GAS.MC: Quote, Profile, Research, Stock Buzz), with about 30 percent of its
business in Latin America, reported flat operating profit.
DUESSELDORF, Germany, March 9 (Reuters) – German utility
E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz) sees two tough years ahead as the cost of a tax
deal struck with the government on nuclear plants, lower power
prices and higher gas costs keep a lid on profit.
The world’s second-largest utility forecast an expected
decline in core profit this year and said the same factors would
continue to drag on earnings in 2012.
FRANKFURT, March 9 (Reuters) – German group E.ON (EONGn.DE: Quote, Profile, Research, Stock Buzz),
the world’s second-largest utility, is under pressure to show
investors it can deliver growth as it sells large parts of its
profitable European business to cut debt.
E.ON will shed traditional core businesses worth 15 billion
euros ($21 billion) as power prices stagnate in Europe, gas
prices slump and the economic crisis hammers energy demand, in
favour of a shift to two new overseas markets. [ID:nN01119969]
LONDON/FRANKFURT, March 2 (Reuters) – Profit at two major
European power companies last year dropped less than forecast,
helped by overseas units and higher than expected power prices.
International Power (IPR.L: Quote, Profile, Research, Stock Buzz), majority owned by French
utility GDF Suez (GSZ.PA: Quote, Profile, Research, Stock Buzz), on Wednesday posted 2010 operating
profit slightly above market expectations, helped by growth in
Asia and the Middle East. [IP:nLDE71R0X9]
ESSEN, Germany, Feb 24 (Reuters) – Germany’s RWE (RWEG.DE: Quote, Profile, Research, Stock Buzz),
Europe’s fifth-largest utility, said it will cut investments and
sell assets to limit the burden of higher taxes and lower power
prices that will lead to three years of falling profits.
The power provider plans to sell assets worth 8 billion
euros ($11 billion) and reduce investments by 3 billion through
2013, but profits will nonetheless drop during that period
before they start to pick up again in 2014.
FRANKFURT/COPENHAGEN (Reuters) – Major European renewable energy groups gave an upbeat outlook for 2011 on Wednesday, with demand for green products offsetting a long-term struggle with competition and pricing pressure.
Demand for green power or production facilities such as windmills and solar cells depends almost entirely on state-subsidy schemes. But it has been bolstered by more countries seeking to cut carbon-dioxide emissions.
COPENHAGEN/FRANKFURT (Reuters) – The outlook for renewable energy groups might be lighting up enough to give investors an opportunity to benefit from the struggle against climate change.
Danish wind turbine maker Vestas, Norwegian solar industry group Renewable Energy Corp and French renewable energy producer EDF Energies Nouvelles are set to send signs of hope for 2011 when they post results on Wednesday.
FRANKFURT, Dec 13 (Reuters) – German conglomerate Evonik
[EVON.UL] has agreed to sell a controlling stake in its power
plants to seven municipal utilities from western Germany,
marking the emergence of a new player on German power market.
The chemicals-to-real estate group will get 650 million
euros ($857.5 million) excluding debt for the 51 percent stake
in Germany’s fifth-largest electricity producer Steag, three
people with knowledge of the matter told Reuters on Monday.