German utility RWE's EBITDA (Earnings Before Interest, Tax And Depreciation And Amortization) decreased to €1.9 billion in the first quarter of 2018, compared to €2.1 billion in the same prior year period, RWE said on Tuesday.
The company said its operating performance was in line with expectations and it forecasts that by the end of year the company's results would be more powerful.
"As anticipated, the results in conventional power generation declined, due to lower margins and wholesale prices compared to last year," the company said and added that in 2018, RWE achieved an average price of €28 per megawatt-hour for generation from lignite and nuclear power, down from €31 per megawatt-hour in 2017.
RWE, with its headquarters in Essen, Germany, has three business segments - lignite and nuclear, European power (gas, coal, hydro and biomass) and supply & trading.
(1 Euro = 1.19 U.S. dollars)
By Murat Temizer