RWE 2020 profit beats own guidance

BERLIN, Feb 5 (Reuters) - RWE, Germany’s largest power producer, said on Friday its 2020 operating profit exceeded its own guidance, pointing to its Supply & Trading division that exceeded expectations towards the end of the year.

RWE said it expected its 2020 adjusted earnings before interest, taxes, depreciation and amortisation to come in at 3.2 billion euros ($3.8 billion), compared with its guidance for between 2.7 billion and 3.0 billion.

It sees its Adjusted net income reaching 1.2 billion euros, RWE added.

“We confirm our dividend target of 0.85 euros per share for fiscal 2020 and we will propose this to our Annual General Meeting on 28 April 2021, which will be held virtually”, CFO Markus Krebber said in a statement.

$1 = 0.8350 euros Reporting by Thomas Seythal; Editing by Maria Sheahan