E.ON: first-quarter results 'in line with expectations'
(CercleFinance.com) - Germany's leading utility group E.
ON said on Tuesday that its performance in the first quarter of 2017 was "in line with expectations."
The Essen-based energy company generated sales that were down 7% y-o-y to about 10.5 billion euros, while adjusted Ebit was just over 1 billion euros.
E.ON's first-quarter adjusted net income fell about 20% y-o-y to roughly 525 million euros.
As anticipated, these numbers are below the company's prior-year earnings but in line with its forecast for full-year 2017, E.ON said in a press release.
The group pointed out that it has been hit by a "difficult business environment."
Even so, the company unequivocally confirmed its 2017 forecast.
After this report, E.ON's shares were down 0.5% at 7.1 euros, one of the the biggest losers amongst German blue chips this morning.
Copyright (c) 2017 CercleFinance.com. All rights reserved.