* Trading unit helps RWE exceed its own 2020 targets
* Shares rise as much as 3.6%
* Full-year results due March 16 (Adds details on results, shares)
BERLIN, Feb 5 (Reuters) - RWE, Germany’s largest power producer, said on Friday its 2020 results came in above its own targets, pointing to its commodities trading division that exceeded expectations.
RWE’s adjusted earnings before interest, taxes, depreciation and amortisation are expected to reach 3.2 billion euros ($3.8 billion), according to preliminary results, compared with a forecast of 2.7 billion to 3.0 billion euros, it said.
Adjusted net income is expected to reach 1.2 billion euros, RWE added.
“Due to a very good operational performance, we expect an excellent result for fiscal 2020, which exceeds our guidance significantly,” RWE finance chief and designated CEO Markus Krebber said.
“This is mainly driven by an extraordinarily strong performance of Supply & Trading.”
RWE shares rose as much as 3.6% on the news.
RWE, which is due to publish a full set of 2020 results on March 16, recorded adjusted EBITDA of 539 million euros at its Supply & Trading division in 2020.
It also said it was sticking with a 0.85 euro-per-share dividend proposal for 2020.
$1 = 0.8350 euros Reporting by Thomas Seythal and Christoph Steitz