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RWE: confirms targets as year gets off to good start

( - German utility giant RWE confirmed its earnings guidance for 2020 on Thursday, saying that it has got off to a "good start" this year.

Operating profit in the three months to March rose by 19% to 1.3 billion euros due to higher electricity prices and above-average wind conditions in its offhsore business, RWE said on Thursday.

The company confirmed its outlook for 2020, aiming at adjusted EBITDA of between 2.7 billion euros and 3 billion euros.

RWE also maintained its plan to increase its dividend to 0.85 euro per share for the current fiscal year.

RWE shares fell 0.8% following these results, outperforming a 1.5% dip in the German benchmark index DAX and an 0.4 percent drop in the STOXX Europe 600 Utilities index.

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