Operating result and EBITDA

Operating result 4 % down year on year


We achieved € 6,966 million in EBITDA and an operating result of € 5,534 million in the first three quarters of 2009. These figures were 3 % and 4 % below the prior-year levels, respectively. Earnings generated by RWE Dea and RWE npower deteriorated considerably. In the first half of the year, this was offset by a strong increase in earnings recorded by RWE Supply & Trading. But its earnings contribution remained far below the very high prior-year level in the third quarter.

Reconciliation of income from operating activities to EBITDA
€ million

Jan – Sep
2009

Jan – Sep
2008

+/–
in %

Jan – Dec
2008

1

Figure adjusted; see commentary Notes on reporting.

Income from operating activities

5,572

4,938

12.8

5,887

+ Income from investments

181

344

–47.4

454

– Non-operating result

–219

506

–143.3

485

Operating result

5,534

5,788

–4.4

6,826

+ Operating depreciation and amortisation

1,432

1,401

2.2

1,947

EBITDA

6,966

7,1891

–3.1

8,7731

EBITDA
€ million

Jan – Sep
2009

Jan – Sep
20081

+/–
in %

Jan – Dec
20081

1

Figure adjusted; see commentary Notes on reporting.

RWE Power

3,133

3,008

4.2

3,601

RWE Innogy

76

83

–8.4

103

RWE Dea

324

621

–47.8

748

RWE Supply & Trading

760

380

100.0

487

RWE Energy

2,403

2,382

0.9

3,093

German regions

1,437

1,477

–2.7

1,963

International regions

447

639

–30.0

652

Supra-regional operations

515

403

27.8

517

Other, consolidation

4

–137

102.9

–39

RWE npower

286

506

–43.5

714

Other, consolidation

–16

209

–107.7

27

RWE Group

6,966

7,189

–3.1

8,773

Operating result
€ million

Jan – Sep
2009

Jan – Sep
20081

+/–
in %

Jan – Dec
20081

1

Figures partially adjusted; see commentary Notes on reporting.

RWE Power

2,785

2,678

4.0

3,142

RWE Innogy

30

50

–40.0

55

RWE Dea

153

436

–64.9

494

RWE Supply & Trading

760

380

100.0

486

RWE Energy

1,804

1,796

0.4

2,286

German regions

1,030

1,075

–4.2

1,407

International regions

317

512

–38.1

478

Supra-regional operations

385

343

12.2

440

Other, consolidation

72

–134

153.7

–39

RWE npower

147

379

–61.2

534

Other, consolidation

–145

69

–310.1

–171

RWE Group

5,534

5,788

–4.4

6,826