RWEOY Rwe Ag (PK)

By Giulia Petroni

RWE AG on Thursday said it expects to report that adjusted earnings rose significantly on year in the first quarter, boosted by stronger results in international power generation.

According to preliminary results, the German company said it expects that adjusted earnings before interest, taxes, depreciation and amortization rose to EUR2.80 billion in the quarter, primarily driven by the hydro, biomass and gas segment.

Adjusted EBIT is seen at EUR2.30 billion, while adjusted net income should come at EUR1.67 billion.

In the first quarter of 2022, RWE reported adjusted Ebitda of EUR1.46 billion and adjusted EBIT of EUR1.10 billion. Adjusted net income was EUR735 million.

RWE backed its 2023 outlook.

The company is scheduled to release first-quarter results on May 11.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

April 27, 2023 03:36 ET (07:36 GMT)

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