EnBW adjusted earnings from renewables increased more than 24% in the first quarter of 2019, compared with the same period of 2018, boosted by better wind conditions and new capacity.
Adjusted EBITDA was €118.6m from January to the end of March, up from €95.4m last year.
The German company also increased its investments in renewables during the latest period to €107.1m from €56.2m in 2018.
It said the main reason for this was the 609MW Hohe See and Albatros offshore wind complex.
EnBW forecasts adjusted EBITDA from renewables for the whole of 2019 to be in the €425m to €500m range.
Adjusted EBITDA in 2018 was €297.7m.
The increase is due to the planned commissioning of Hohe See and Albatros, as well as onshore expansion, such as in Sweden, the company said.
Overall, EnBW reported adjusted EBITDA of €722.9m, up just over 5% from €686.6m last year.
Company net profit in the first quarter almost doubled to €273.8m, compared with €137.5m in 2018.
EnBW chief financial officer Thomas Kusterer said: “Following on from further earnings growth in the 2018 fiscal year, we aim to sustain and accelerate the positive trend.
“To that end, we are building on a broad business portfolio combined with systematic expansion of our growth segments.
“In renewable energies most of all, we expect substantially higher earnings in 2019 than in the previous year, not least as we gradually bring our Hohe See and Albatros offshore wind farms into operation this autumn.”