Strong Profit Growth in European Power
In Europe, many of the large cap utilities reported first half-year results during August. RWE grew its operating profit by 18% and increased the full year growth outlook from 10% to 15%.
RWE’s power generation unit was the key driver delivering an EUR 2.4 billion operating profit (+44%) despite an extended outage at the Biblis nuclear station, which cost the company EUR 380 million. Please refer to the PDF documents below to view the full monthly report for the EIC Energy Utility Fund.