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RWE Q1 net income increased 10%

Staff Writer | May 15, 2017
RWE reported that its first-quarter net income increased 10% to 946 million euros from 860 million euros in the same period last year.
RWE   Earnings per share were 1.54 euros
Earnings per share were 1.54 euros, higher than 1.40 euros a year ago.

Adjusted net income amounted to 689 million euros or 1.12 euros per share, compared to 838 million euros or 1.36 euros per share in the first quarter of last year.

RWE Group recorded adjusted earnings before interest, taxes, depreciation and amortisation or EBITDA of 2.1 billion euros, down 6.5 percent from last year, due to a drop in electricity generation revenue.

External revenue declined 2.7 percent to 13.29 billion euros from 13.66 billion euros a year ago.

Electricity sales volume edged down 0.1 percent to 70 billion kWh, and gas sales volume dropped 1.6 percent to 95.5 billion kWh.

For 'RWE stand alone', adjusted EBITDA amounted to 514 million euros and adjusted net income totaled 203 million euros.

Looking ahead for fiscal 2017, RWE said it continues to expect an improvement in earnings over 2016 in the current fiscal year.

Adjusted EBITDA is projected to total between 5.4 billion euros and 5.7 billion euros, compared to 5.4 billion euros in 2016.

Adjusted net income is anticipated to range between 1.0 billion euros and 1.3 billion euros, after 0.8 billion euros in 2016.