RWE said on Friday that it expected this year's operating profit to be at the lower end of its forecast range, due to the sharp drop in European energy prices in recent weeks.

Germany's leading electricity producer had indicated at its investor meeting last November that it was projecting operating profit of between 5.2 and 5.8 billion euros in 2024.

This morning, the Group announced that its adjusted operating profit (Ebitda) for 2023 should be around 8.4 billion euros, above its initial target of 7.1 to 7.7 billion euros.

Adjusted Ebitda from core activities is expected to be around 7.7 billion euros, again above its initial forecast of 6.3 to 6.9 billion euros.

On the Frankfurt Stock Exchange, investors were less convinced by these better-than-expected results than by the warning issued for 2024, and the share lost more than 6% on Friday afternoon on the Frankfurt Stock Exchange.

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