RWE CEO Roels reaffirms FY guidance; wants co to grow organically |
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Published
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Wed, 18 Apr 2007 09:36
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ESSEN, Germany (Thomson Financial) - RWE AG chief executive Harry Roels reaffirmed the company's full year guidance at the AGM.Germany's largest electricity producer still expects operating profit to rise by about 10 pct, with EBITDA up 5-10 pct.Full year net is still expected to decline substantially because of a lack of comparable one-time gains.Roels said RWE also still expects its operating profit to rise by an average of 5 pct over the next few years.The chief executive also said the utility intends to stand by its strategy of focusing on organic growth in order to expand.He said major M&A moves are not an option because the utilities market is currently 'overheated,' meaning that there are hardly any attractive acquisition targets.Roels added that RWE is eyeing smaller purchases in Eastern Europe.alfred.kueppers@thomson.comdpa/amk/hjp/amk/lamCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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RWE CEO Roels needs to worry about job, may not see contract extension - report 