RWE has raised its full-year 2026 earnings outlook for its Offshore Wind division after the business delivered stronger-than-expected results in the first half of the year, driven by higher electricity generation under more favourable wind conditions, according to the company.
Based on preliminary figures, RWE’s Offshore Wind segment is expected to close the first half of the year with adjusted EBITDA of EUR 810 million in the first six months of 2026, up from EUR 643 million in the same period last year.
The company attributed the increase primarily to higher production volumes as wind conditions returned to normal following what RWE says were unusually weak conditions in the first half of 2025. On the back of the stronger performance, the company increased its full-year adjusted EBITDA guidance for the Offshore Wind division by EUR 100 million, to EUR 1.65 billion-EUR 2.15 billion.
For 2027, RWE guidance for the offshore wind business has also been raised by EUR 100 million, from EUR 1.9 billion-EUR 2.4 billion posted in March this year, to EUR 2 billion-EUR 2.5 billion.
Across the group, RWE said preliminary adjusted EBITDA reached EUR 3 billion in the first half of 2026, with adjusted net income of EUR 1.3 billion, exceeding market expectations. The company also raised its overall earnings guidance for 2026 and 2027, citing stronger operational performance, additional earnings from the increase in its stake in transmission system operator (TSO) Amprion, compensation received by its Flexible Generation business, and higher earnings from international power generation.
RWE has recently closed the acquisition of indirect shares in Amprion, announced in June, with the transaction completed after the German Federal Cartel Office granted unconditional clearance on 17 July. By acquiring indirect shares from five shareholders of M31, RWE has increased its total share in Amprion to 55 per cent.
“Our preliminary results for the first half of 2026 exceeded market expectations. For the second half of the year, we expect further positive earnings contributions, particularly from the increase in our stake in transmission system operator Amprion and from higher earnings in our international power generation business”, said Michael Müller , CFO of RWE AG.
“These factors are key drivers behind the increase in our earnings guidance for both the current fiscal year 2026 and fiscal year 2027. This puts us on a solid path to achieving our strategic and financial targets. We confirm our dividend target of €1.32 per share for 2026 and reaffirm our ambition to increase the dividend by 10% annually through 2031.”
RWE is scheduled to publish its final results for the first half of 2026 on 13 August.
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