German electric utilities company RWE earlier this week ratified its intention to take its renewables division public later this year, with expectations that it would deliver a significant portion of the group’s revenue this year.
RWE AG issued an outlook for 2016 and 2017 for its RWE International SE division, which combines the company’s Grid & Infrastructure, Retail, and Renewables segments into a giant powerhouse. RWE intends to take RWE International SE public later this year, and is in the midst of preparations for its IPO.
RWE also expects RWE International SE to account for EBITDA of €4.1 to €4.4 billion in fiscal year 2016, made up of €2.5 to €2.7 billion by the Grid & Infrastructure segment, €1.0 to €1.2 billion by the Retail segment, and €0.6 to €0.8 billion by the Renewables segment. RWE further expects the then-public RWE International SE to bring in EBITDA of €4.3 to €4.7 billion in fiscal year 2017.
This is relatively impressive, but even more so when you take into account that RWE as a whole is expecting to take in an EBITDA of €5.2 to €5.5 billion in fiscal year 2016 — which means that its renewables segment is expected to account for 26% to 24% of the company’s overall earnings before interest, taxes, depreciation, and amortization (EBITDA).
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