E.ON: Earnings decline 'in line with expectations

(CercleFinance.com) - E.
ON reports adjusted net income of around €2.2 billion and adjusted EBITDA of around €6.7 billion for the first nine months of 2024, below the €2.9 billion and €7.8 billion posted a year earlier, but in line with expectations, according to the company.

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 €4.7 billion in the first nine months (of which €3.6 billion in the energy networks business), against a full-year target of around €7.2 billion.

The Group is thus on track to achieve its confirmed targets for the full year 2024, namely adjusted net income of 2.8 to 3 billion euros and adjusted EBITDA of 8.8 to 9 billion.

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