RWE Swings To 2013 Net Loss

RWE AG

posted a net loss in 2013. RWE swung to a net loss of EUR2.8 billion ($3.8 billion), versus a year-ago profit of EUR1.31 billion. Excluding special items, the company's recurrent after-tax profit declined 5.8% to EUR2.31 billion. Its revenue rose 1.6% to EUR54.07 billion, while operating profit fell to EUR5.88 billion from EUR6.42 billion. However, analysts were expecting recurrent after-tax profit of EUR2.41 billion. RWE shares closed at $39.17 yesterday.