The German energy company RWE announced that it expects its profits to decline by 30% in 2024, after the decline in global energy prices, in addition to its expectation of a decline in profits for its trading division in 2024.

The company expects its adjusted earnings before interest, taxes and amortization to decline until it reaches 5.2 or 5.8 billion euros, after it had reached 7.75 billion euros last year.

Despite this, its shares witnessed an increase of 1.8%, but the profits of the company’s commodity trading unit are expected to witness a decline of 94%, or 100 million euros.

The company plans to raise its earnings per share until it becomes 1.10 euros this year. Which will lead to raising the company's overall profits.

The company is moving towards investing in clean energy. Clean energy – that is, wind and solar energy – occupied 20% of the total energy produced, or an average of 35.5 gigawatts. The company also added that there are another 8 gigawatts of clean energy projects under construction.

RWE's interest in clean energy has been evident recently; It signed an agreement with the Emirati company “Masdar” last December, worth 11 billion pounds, to generate wind energy from offshore wind stations in the United Kingdom.