E.ON: Earnings down in line with expectations

(CercleFinance.com) - E.
ON reports adjusted net income of around E2.2bn and adjusted EBITDA of around E6.7bn for the first nine months of 2024, below the E2.9bn and E7.8bn resspectively posted a year ago, although in line with expectations, the company says.

The German energy group adds that, adjusted for the positive one-off effects of the previous year, its underlying EBITDA increased in the low triple-digit million euro range due to investment-led growth.

E.ON also points to a 20% increase in investments in the energy transition to E4.7bn in the first nine months (of which E3.6bn in the energy networks business), against a full-year target of around E7.2bn.

The group is thus on track to achieve its confirmed targets for FY 2024, i.e. adjusted net income of E2.8bn to E3bn and adjusted EBITDA of E8.8bn to E9bn.


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