Frankfurt, May 12, (dpa/GNA) - German utility giant RWE reported a more than doubling of its adjusted net income for the first quarter on Thursday to €735 million ($769 million) from €340 million the previous year.
Adjusted EBIT was €1.10 billion, up from €548 million last year.
Adjusted EBITDA for the first quarter increased 65% to €1.46 billion from the prior year’s €883 million.
Adjusted EBITDA core business was €1.25 billion, higher than last year’s €555 million.
RWE generated over 20% more electricity from wind and solar power than in the same quarter of the previous year.
Further, RWE confirmed its outlook for fiscal 2022 based on its good operating results.
The company continues to expect an adjusted net income of between €1.3 and-1.7 billion.
The forecast for adjusted EBIT is between €2.0 billion and €2.4 billion.
Adjusted EBITDA is expected to be between €3.6 billion and €4 billion at the Group level and between €2.9 billion and €3.3 billion on a core business level.
GNA