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RWE 9-month 'stand Alone' Adj. EBITDA Declines; Reiterates FY18 Outlook

German utility RWE AG (RWEOY.PK) reported Wednesday that for the first nine months of 2018, its adjusted earnings before interest, taxes, depreciation and amortisation or EBITDA for 'RWE stand-alone' was 1.3 billion euros, down from 1.7 billion euros in the year-ago period.

Adjusted net income for the period amounted to 645 million euros, compared to 930 million euros in the year-ago period.

Looking ahead to fiscal 2018, RWE said it continues to expect adjusted EBITDA of between 1.4 billion euros and 1.7 billion euros, and adjusted net income of between 500 million euros and 800 million euros.

Since business developed as planned and the medium-term earnings prospects are improving, the company confirmed its outlook for the full-year dividend. The company also added that the ordinary dividend for 2018 is set to rise from 0.50 euros to 0.70 euros.

RWE noted that the transaction with E.ON is proceeding according to plan. RWE, E.ON and Innogy are currently working hard to go through the merger control procedures before the European Commission as quickly as possible. Competition clearance is still expected by the summer of 2019.

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