RWE First-Quarter Core Profit Up 25% After Dutch Compensation Payment
RWE Reports Strong First-Quarter Financial Results
Overview of First-Quarter Performance
FRANKFURT, May 13 (Reuters) - RWE's core profit rose by a quarter in the first quarter, Germany's biggest power producer said on Wednesday, mainly due to a one-off compensation payment from the Dutch government regarding one of its coal-fired power plants.
Adjusted Core Profit Figures
First-quarter adjusted core profit rose to 1.63 billion euros ($1.91 billion), in line with the average consensus in a poll provided by the company.
Impact of Dutch Compensation Payment
Stripping out the 332 million euro compensation payment for RWE's Eemshaven plant - paid by the Dutch government to offset losses caused by a temporary cap on CO2 emissions in 2022 - core profit would have been broadly flat.
Outlook and Analyst Expectations
Future Profit Forecasts
RWE confirmed it still expects adjusted core profit of 5.2 billion to 5.8 billion euros in 2026, while adjusted net profit is forecast at 1.55 billion to 2.05 billion euros.
Analyst Consensus
Analysts, on average, expect adjusted core profit of 5.6 billion euros and adjusted net profit of 1.77 billion.
Exchange Rate Information
($1 = 0.8523 euros)
(Reporting by Christoph Steitz, Editing by Linda Pasquini)
