BERLIN, May 14 (Xinhua) -- Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of RWE increased by 19 percent to 1.3 billion euros (1.4 billion U.S. dollars) in the first quarter (Q1) of 2020 compared to the previous year, the German utility announced on Thursday.

External revenues, excluding natural gas tax and electricity tax, of RWE increased slightly to 3.8 billion euros year-on-year, while adjusted net income totaled 603 million euros during the period.

"RWE got off to a good start to the year," said Markus Krebber, chief financial officer (CFO) of RWE AG. "Thanks to our robust business model, we posted significant gains across all key earnings figures even in these challenging times."

Adjusted EBITDA recorded in the offshore wind segment jumped to 431 million euros in Q1. The growth of over 30 percent "primarily stemmed" from higher wind levels, the company noted.

The onshore wind and solar segment also posted a significant rise, with adjusted EBITDA picked up by around 20 percent to 209 million euros, according to RWE.

RWE planned net investments of about 5 billion euros to expand wind and solar energy portfolio by over 4 gigawatt (GW) by 2022. Construction of the Triton Knoll offshore wind farm in the United Kingdom had been underway since January.

For 2020, RWE confirmed its outlook and is expecting adjusted EBITDA to amount to between 2.7 billion and 3.0 billion euros. (1 euro = 1.08 U.S. dollars) Enditem

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