Both net income and the operating result rose. At the same time, the company invested heavily in security of supply and its leading market position. Earnings per share were up about 7% to E1.86. For the time being, RWE says it maintains its forecast for the current fiscal year.
EBITDA increased 14% to E2.8 billion, while the operating result rose 16% to E2.3 billion, the firm said in a statement. However, an unusually long and cold winter led to one-off seasonal effects. This performance trend, therefore, cannot be extrapolated for the full year. The group posted the strongest growth at RWE Power and RWE Energy. RWE npower, the company’s UK operations, closed the quarter significantly down year on year due to one-off effects; however, the division expects to compensate for this in the quarters ahead. The water division was slightly up on the year-earlier level.
In the first quarter, RWE was able to increase consolidated net income by 7% to E1.05 billion. Strong organic development was contrasted in particular by lower capital gains realized as a result of fewer divestments, the statement said.
In the first quarter of 2006, cash flow from operating activities totaled E1.3 billion, and was thus E214 million lower than in the same period last year.
