RWE: strong growth in Q1 results
(CercleFinance.com) - RWE has published strong growth in its Q1 2022 results.
The German energy conglomerate's adjusted EBITDA rose by 65% y-o-y to 1.46 billion euros.
Meanwhile, adjusted EBIT doubled from 548 million euros to 1098 million euros.
Adjusted net profit reached 735 million euros, more than double the figure last year (340 million euros).
RWE points out that its wind and solar energy production increased by over 20% y-o-y, in particular thanks to better wind conditions.
For FY 2022, RWE targets adjusted EBITDA of 3.6 to 4 billion euros, adjusted EBIT of 2 to 2.4 billion euros and adjusted net profit of 1.3 to 1.7 billion euros.
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