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EnBW Q1 core profit more than doubles on valuation gains
Global Banking & Finance Review®
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FRANKFURT (Reuters) – German utility EnBW on Thursday said its core profit likely more than doubled to 2.8 billion euros ($3.1 billion) in the first quarter, citing gains on derivative positions as a result of a steep decline in energy prices.
FRANKFURT (Reuters) – German utility EnBW on Thursday said its core profit likely more than doubled to 2.8 billion euros ($3.1 billion) in the first quarter, citing gains on derivative positions as a result of a steep decline in energy prices.
First-quarter adjusted net profit likely rose to 2.3 billion euros from 0.6 billion last year, according to preliminary figures, EnBW said.
Final results for the period will be published on May 12, the company said.
($1 = 0.9047 euros)
(Reporting by Christoph Steitz, Editing by Friederike Heine)
Core profit refers to the earnings generated from a company's primary business operations, excluding any income derived from non-operational activities such as investments or asset sales.
Valuation gains occur when the market value of an asset increases, leading to a higher reported value on a company's balance sheet, often due to favorable market conditions.
Adjusted net profit is a company's net profit that has been modified to exclude one-time expenses or income, providing a clearer view of ongoing operational performance.
A preliminary financial report provides initial financial results before the final figures are confirmed, often based on estimates and subject to adjustments.
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