Germany's largest electricity producer far below expectations

German utility RWE booked a profit which was far below analyst expectations for the first nine months of the year.

The adjusted profit dropped to EUR 227 million, down from EUR 245 million in the same period one year ago. According to Bloomberg News, analysts had projected an increase to EUR 406 million.

The reason for the decline lies in the low prices in the German electricity market, writes Bloomberg News. RWE's external sales in the first nine months of the year came to EUR 33.2 billion, while analysts has expected sales to surpass EUR 35 billion.

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