RWE has reported a 7% rise in operating profit in the first quarter of 2016 driven by energy trading and renewables.
Operating profit rose to €1.7bn while adjusted net income fell by 2% year on year to €857m due to financial adjustments, the company said.
The commissioning of the new 295MW Nordsee Ost and 576MW Gwynt y Mor offshore wind farms had a positive effect on the results, according to the German utility.
“Overall, we have achieved a thoroughly respectable result for the first quarter,” RWE chief financial officer Bernhard Günther said. “Our three future-oriented divisions, Renewables, Grids and Retail, are developing well. We confirm our earnings forecast for 2016.”
RWE’s renewables division would have posted a much higher result than in the previous year if it wasn’t for last year’s one-off income from the divestment of the Gwynt y Mor grid infrastructure, he said.
Image: RWE
