RWE AG Q1 Adjusted Earnings Surge; Confirms FY22 Outlook - Quick Facts

German utility RWE AG (RWEOY.PK) reported Thursday that its first-quarter adjusted net income more than doubled to 735 million euros from last year's 340 million euros.

Adjusted EBIT was 1.10 billion euros, up from 548 million euros last year.

Adjusted EBITDA for first quarter increased 65 percent to 1.46 billion euros from prior year's 883 million euros. Adjusted EBITDA core business was 1.25 billion euros, higher than last year's 555 million euros.

RWE generated over 20 percent more electricity from wind and solar power than in the same quarter in the previous year.

Further, RWE confirmed its outlook for fiscal 2022 based on its good operating results. The company continues to expect adjusted net income between 1.3 billion euros and 1.7 billion euros.

The forecast for adjusted EBIT is between 2.0 billion euros and 2.4 billion euros. Adjusted EBITDA is expected to be between 3.6 billion euros and 4 billion euros at Group level, and between 2.9 billion euros and 3.3 billion euros on a core business lelev.

RWE is still aiming to pay out a dividend of 90 euro cents per share for the current financial year.

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