RWE at the Upper End of its 2025 EBITDA and Profit Guidance - €35 Billion for Wind Power, Solar and Flexible Power Plants by 2031

Essen (Germany) - RWE has published its results for 2025. The energy group looks back on a successful financial year and is setting the course for further growth. RWE intends to continue investing consistently in renewable energy, flexible capacities and international markets in order to meet rising electricity demand and sustainably secure long-term competitiveness.

The investments planned by RWE through 2031 are primarily intended to flow into the expansion of wind and solar capacity, battery storage and flexible gas-fired power plants. Offshore wind capacity is set to grow by five gigawatts, while installed power generation capacity in the United States is expected to increase from 13 to 22 gigawatts. RWE plans to raise adjusted earnings per share from €2.48 to around €4.40 by 2031 and increase the dividend by ten percent annually.

Strong results in 2025: EBITDA and net income at the upper end of the forecast

Although adjusted EBITDA of €5.1 billion and net income of €1.8 billion in 2025 were lower than in the previous year (2024: €5.7 billion EBITDA, €2.3 billion net income), RWE nevertheless reached the upper end of its guidance. The adjusted EBITDA forecast for 2025 ranged from €4.55 billion to €5.15 billion, while the adjusted net income forecast ranged from €1.3 billion to €1.8 billion.

“2025 was a very successful year for RWE. In a challenging environment, we consistently executed our Group strategy by expanding our portfolio in a value-accretive way and entering into new strategic partnerships. We clearly achieved our financial targets”, commented Markus Krebber, CEO of RWE AG.

The results by business segment present a mixed picture.

In the offshore wind segment, adjusted EBITDA of €1.49 billion was slightly below the previous year’s level, which RWE attributed to weaker wind conditions and lower market prices.

By contrast, the onshore wind and solar segment increased significantly to €1.74 billion, driven by the commissioning of new plants in Europe and higher prices achieved in the United States for electricity volumes not secured by long-term contracts.

Flexible generation benefited from the sale of a development project for a data center in the United Kingdom. Compared with the previous year (€1.95 billion), however, adjusted EBITDA declined to €1.41 billion because margins from forward sales of electricity generation normalized after the high levels seen in 2024.

According to RWE, energy trading performed weaker than in 2024 as expected and amounted to €339 million, but still remained within the forecast range.

Despite weak wind conditions in Europe, electricity production increased by 4%, while CO₂ emissions from power generation declined by 2%. New plants with a total capacity of 2.8 GW were commissioned, and net investments amounted to €4 billion. Financial stability remained strong: net debt stood at €10.9 billion, the equity ratio increased to 41%, and the leverage factor was 2.1. For 2025, the Annual General Meeting will be asked to approve a dividend of €1.20 per share as planned; the dividend for 2026 is expected to increase by 10% to €1.32.

Growth offensive through 2031: focus on renewables and flexible capacities

RWE plans to invest a total of €35 billion net in expanding its portfolio by 2031 in order to increase generation capacity by 25 GW to around 65 GW. Investments will focus on offshore and onshore wind farms, solar installations, battery storage and flexible gas-fired power plants. Offshore wind capacity is to be expanded by a net 5 GW, supported by successful auctions in the United Kingdom. At the same time, onshore wind and solar capacity in Europe and Australia is to be increased by 5 GW through targeted investments.

In Germany, RWE plans to build flexible backup capacity and large battery projects with a total volume of €9 billion, including up to 3 GW of hydrogen-ready gas-fired power plants, depending on the federal government’s tenders. In the United States, €17 billion is to be invested to increase capacity from the current 13 GW to 22 GW. In addition to wind and solar projects and battery storage, flexible generation will also be expanded. The focus will be on the construction of gas-fired peaking power plants. Strategic partnerships with investors such as Masdar, Norges Bank Investment Management, KKR and Apollo Global Management are intended to reduce risks and expand financial flexibility.

Markus Krebber emphasizes: “With our €35 billion net investment programme through to 2031, we are building new generation capacity to better meet the growing demand for electricity in Europe and the United States. In the US, we are broadening our portfolio and now focusing on gas in addition to renewables. Our investments will pay off: our adjusted earnings per share will grow from €2.48 today to €4.40 per share by 2031.” RWE expects the investments to generate an average return of more than 8.5% and adjusted net earnings per share to grow by around 12% annually on average through 2031.

Source: IWR Online, Mar 03 2026