By Olivia Bugault
RWE AG (RWE.XE) said Wednesday that its adjusted net income in the first quarter rose, driven by good trading performance, and confirmed its 2019 forecasts.
The German electric utilities company said adjusted net income was 273 million euros ($306 million) compared with EUR78 million a year earlier.
Adjusted earnings before interest, tax and depreciation and amortization jumped to EUR510 million, it said.
The company said it had made progress in its transaction with E.ON SE (EOAN.XE) and the integration of its renewables business with RWE as it concluded a new credit agreement with a volume of EUR5 billion, it said.
RWE confirmed its 2019 outlook which includes and adjusted Ebitda of EUR1.2 billion to EUR1.5 billion and adjusted net income of between EUR300 million and EUR600 million.
It will raise its dividend for the full-year to EUR0.80 a share from EUR0.70 a share.
Write to Olivia Bugault at firstname.lastname@example.org
(END) Dow Jones Newswires
May 15, 2019 01:47 ET (05:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.