RWE stock: Strong earnings and major UK wind venture advance

RWE entered the weekend after two strategic announcements on Wednesday, November 11. The company reported stronger earnings for the first nine months of 2026 and completed a major offshore wind venture with KKR, according to RWE.

Earnings point to a strong year

RWE's adjusted EBITDA rose 35% to 4.6 billion euros in the first three quarters of 2026. Adjusted net income increased to 1.8 billion euros from 1.3 billion euros a year earlier, while adjusted earnings per share reached 2.52 euros, compared with 1.77 euros.

RWE confirmed its 2026 guidance and expects adjusted EBITDA of 5.75 billion to 6.35 billion euros and adjusted net income of 1.95 billion to 2.45 billion euros. Management expects results toward the upper end of those ranges and reaffirmed a dividend target of 1.32 euros per share.

KKR partnership reaches financial close

RWE and KKR also completed their 50:50 joint venture for the Vanguard West and Vanguard East offshore wind farms in the British North Sea. KKR acquired a 50% equity stake in each project, while RWE is leading delivery.

The two projects have combined capacity of 2.8 gigawatts and are expected to be commissioned in 2030. Offshore construction is scheduled to begin in early 2027. Financing includes 11.1 billion British pounds in cash facilities and 1.7 billion British pounds in ancillary facilities from a consortium of 35 international banks, according to the RWE press release.

Share context for investors

RWE stock traded at 59.62 euros on Lang & Schwarz at 12:27 CET on Saturday, November 14, 0.07 percent above the Xetra close of Friday, November 13. The near-term investor focus is now likely to remain on execution of the offshore projects, investment discipline and delivery against the upper end of the 2026 outlook.

The German equity market remains the broader setting for RWE stock; see Current market reports.

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