RWE posts better than expected Q1 profit on strong winds, trading

FRANKFURT (Reuters) - RWE, Germany's largest electricity producer, on Wednesday posted better-than-expected core profit for the first quarter, boosted by stronger winds and a better than expected performance at its trading division.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the period fell more than a quarter to 1.71 billion euros ($1.85 billion), while adjusted net profit came in 39% lower at 801 million, both beating the 1.57 billion and 646 million average forecast in a poll consensus provided by the company.

"Today's results with a strong start to the year especially thanks to the beat in trading de-risks the potential for attainment of the full year guidance which has been left unchanged," Bernstein analysts wrote.

RWE still expects to hit the lower end of its profit outlook, which forecasts adjusted EBITDA of 5.2 billion to 5.8 billion euros and adjusted net profit of 1.9 billion to 2.4 billion euros.

($1 = 0.9240 euros)

(Reporting by Christoph Steitz, editing by Kirsti Knolle)