"RWE’s quarterly loss narrows on generation, cost cuts"

RWE AG’s second-quarter loss narrowed by 22 percent after an improved performance in the German utility’s power plant business and cost cuts, reports Tino Andresen for Bloomberg. The Essen-based company reduced its adjusted net loss to 259 million euros in the three months through June, based on Bloomberg calculations using first-quarter and first-half numbers. “RWE’s management has delivered a strong first-half performance in a challenging environment,” analysts at Jefferies Group LLC including Ahmed Farman said in a note to clients, according to the article. “It appears to be managing the pressure in the generation business well through self-help measures and the group’s new corporate strategy is on track.”

Read the article in English here.

Read RWE’s report here.

Find background on the RWE crisis in the CLEW factsheet RWE’s plans for new renewable subsidiary.