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Revenue expected to be higher year on year


Outlook
€ million

2008

2009 forecast vs. 2008

1

Figures adjusted (see commentary).

External revenue

48,950

Above previous year

EBITDA Glossary

8,7731

In the order of last year's level

Operating result

6,826

In the order of last year's level

RWE Power

3,142

Above previous year

RWE Dea

494

Significantly below previous year

RWE Supply & Trading

4861

Above previous year

RWE Energy

2,2861

Matching previous year's level

RWE npower

534

Significantly below previous year

RWE Innogy

55

Below previous year

Recurrent net income

3,367

In the order of last year's level

External revenue earned by the RWE Group in 2009 is anticipated to surpass last year’s level. The growth in revenue will be largely driven by electricity price increases, with which we pass through higher procurement costs to our customers. Furthermore, we expect to see a continued rise in electricity generated in accordance with the Renewable Energy Act (EEG) fed into our German grid. In contrast, realized oil and gas prices are likely to be lower than in 2008.