RWE raises 2019 outlook on strong trading performance

FRANKFURT: RWE, Germany's largest electricity producer, on Tuesday raised its profit outlook for 2019 on the back of a stronger-than-expected performance at its volatile energy trading unit.

The group said it now expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 1.4 billion to 1.7 billion euros ($1.6-$1.9 billion), while adjusted net income is seen at 0.5 billion to 0.8 billion.

This compares with a previous outlook for 1.2 billion to 1.5 billion euros of adjusted EBITDA and 0.3 billion to 0.6 billion euros for adjusted net income.