RWE's first-quarter core profit up on one-off payment, outlook confirmed

FRANKFURT, May 13 (Reuters) - RWE's RWEG.DE core profit rose by a quarter in the first quarter, Germany's biggest power producer said on Wednesday, mainly due to a one-off compensation payment from the Dutch government regarding one of its coal-fired power plants.

First-quarter adjusted core profit rose to 1.63 billion euros ($1.91 billion), in line with the average consensus in a poll provided by the company.

Stripping out the 332 million euro compensation payment for RWE's Eemshaven plant - paid by the Dutch government to offset losses caused by a temporary cap on CO2 emissions in 2022 - core profit would have been broadly flat.

RWE confirmed it still expects adjusted core profit of 5.2 billion to 5.8 billion euros in 2026, while adjusted net profit is forecast at 1.55 billion to 2.05 billion euros.

Analysts, on average, expect adjusted core profit of 5.6 billion euros and adjusted net profit of 1.77 billion.

($1 = 0.8523 euros)