RWE 1Q Adjusted Net Income Rose; Backs 2019 View
May 15 2019 - 2:02AM
Dow Jones News
By Olivia Bugault
RWE AG (RWE.XE) said Wednesday that its adjusted net income in
the first quarter rose, driven by good trading performance, and
confirmed its 2019 forecasts.
The German electric utilities company said adjusted net income
was 273 million euros ($306 million) compared with EUR78 million a
year earlier.
Adjusted earnings before interest, tax and depreciation and
amortization jumped to EUR510 million, it said.
The company said it had made progress in its transaction with
E.ON SE (EOAN.XE) and the integration of its renewables business
with RWE as it concluded a new credit agreement with a volume of
EUR5 billion, it said.
RWE confirmed its 2019 outlook which includes and adjusted
Ebitda of EUR1.2 billion to EUR1.5 billion and adjusted net income
of between EUR300 million and EUR600 million.
It will raise its dividend for the full-year to EUR0.80 a share
from EUR0.70 a share.
Write to Olivia Bugault at olivia.bugault@dowjones.com
(END) Dow Jones Newswires
May 15, 2019 01:47 ET (05:47 GMT)
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