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E.ON SE (EOAN.DE)

XETRA - XETRA Delayed price. Currency in EUR
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10.50-0.10 (-0.96%)
As of 5:35PM CEST. Market open.
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Previous close10.60
Open10.70
Bid10.51 x 130100
Ask10.51 x 267700
Day's range10.50 - 10.71
52-week range8.27 - 10.81
Volume9,117,039
Avg. volume10,899,977
Market cap27.459B
Beta (5Y monthly)0.39
PE ratio (TTM)26.92
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.47 (4.65%)
Ex-dividend date20 May 2021
1y target estN/A
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  • EQS Group

    E.ON SE: E.ON fully on track after strong first quarter of 2021

    DGAP-News: E.ON SE / Key word(s): Quarterly / Interim Statement11.05.2021 / 07:00 The issuer is solely responsible for the content of this announcement.E.ON fully on track after strong first quarter of 2021 Adjusted EBIT up 14 percent to €1.7 billion, adjusted net income up 19 percent to roughly €800 million Operating improvements along with weather-related increase in gas sales volume are key earnings drivers Successful restructuring enables UK business to return to profitability Forecast for 2021 financial year, medium-term targets, and dividend policy confirmedEssen-based energy company E.ON continues its successful performance in the new financial year despite the COVID-19 pandemic, posting significantly improved earnings. Adjusted EBIT rose by 14 percent year on year to €1.7 billion, adjusted net income by 19 percent to €809 million. At the presentation of the company's first-quarter results, CFO Marc Spieker commented: "We're off to a successful start in the new year. All our businesses delivered a strong operational performance in the first quarter. This gives us a lot of confidence for the remainder of the year. I can therefore fully affirm our forecast for 2021, our medium-term financial and earnings plan, and our dividend promise."Earnings driven by operating improvements at Customer Solutions businessGroup adjusted EBIT increased significantly-by about €200 million-year on year to €1.7 billion, primarily because of the Customers Solutions business.Earnings at the Customer Solutions segment improved by just under €300 million relative to the prior-year period and thus almost doubled. A weather-related increase in gas sales volume and successful restructuring in the United Kingdom were key factors. In the United Kingdom, all npower customers have been migrated to the new digital customer platform. E.ON is therefore confident that it will already achieve its target of surpassing £100 million in earnings this financial year and thus one year earlier than planned. E.ON originally expected to reach this important milestone in 2022.Energy Networks' earnings were stable relative to last year. Although compared with the prior year E.ON transported more energy in Germany owing to colder weather, the resulting earnings increase was largely offset by an anticipated increase in expenditures for network expansion and upgrades. E.ON's business in Central-Eastern Europe and Turkey benefited from the initial consolidation of VSE in Slovakia, which was acquired in the third quarter of last year.First-quarter earnings at Non-Core Business, which consists of PreussenElektra and the generation business in Turkey, were down by roughly €80 million year on year. The decline is due in part to the acquisition of additional residual power output rights for nuclear power stations. Another factor was that earnings at E.ON's generation joint venture in Turkey were negatively affected by a reduction in hydropower output and adverse currency-translation effects.Adjusted net income amounted to €809 million in the first three months of 2021, up 19 percent from 2020. The gain reflects the increase in operating earnings.Debt reduction making swifter progressMarc Spieker: "Backed by our strong first-quarter performance and assuming interest rates remain at current levels, we're right on course to already achieve our target debt factor of 4.8 to 5.2 this year and thus earlier than originally planned."Economic net debt of roughly €40.8 billion as of March 31, 2021, was largely unchanged from the 2020 financial year. This was helped by a significant €1.7 billion decline in provisions for pensions relative to year-end 2020 due to an increase in actuarial discount rates.By contrast, first-quarter operating cash flow was negative due to seasonal factors. In the sales business with residential customers, high energy consumption during the winter led to a negative cash balance in the first quarter, because cash inflow from installment payments is spread evenly over the year. The network business recorded a temporary increase in working capital as well owing to the payment of the renewables feed-in tariff in Germany. These seasonal effects will reverse themselves in the remainder of the year.Outlook confirmedAfter a strong start to the financial year, E.ON expects to achieve all its targets for 2021 and its medium-term earnings plan through 2023, including its dividend promise. Spieker therefore confirmed E.ON's full-year forecast: "We're very confident that we'll achieve our adjusted EBITDA target of €7.2 to €7.5 billion and our adjusted EBIT target of €3.8 to €4 billion for the 2021 financial year."This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to align them to future events or developments.11.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: E.ON SE Brüsseler Platz 1 45131 Essen Germany Phone: +49 (0)201-184 00 E-mail: info@eon.com Internet: www.eon.com ISIN: DE000ENAG999 WKN: ENAG99 Indices: DAX, EURO STOXX 50 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange EQS News ID: 1194853 End of News DGAP News Service

  • EQS Group

    E.ON SE: E.ON confirms outlook and sees operating business on track

    DGAP-News: E.ON SE / Key word(s): Quarterly / Interim Statement11.11.2020 / 07:00 The issuer is solely responsible for the content of this announcement.E.ON confirms outlook and sees operating business on track Robust nine-month results show business model's strength in Covid-19-pandemic Markets recover faster than anticipated Medium-term outlook and dividend guidance confirmed; from today's perspective, current selective lockdowns will not impact full-year guidance All EU conditions fulfilled, integration proceeding according to planE.ON today published its results for the first nine months of the 2020 financial year. The Essen-based energy company delivered a strong operating performance in the third quarter, with a more rapid recovery in its markets than anticipated. From today's perspective, the current selective lockdown measures in E.ON's core markets will not have a material impact on its full-year results. E.ON therefore confirms its results targets for the financial year. The energy networks and customer solutions businesses demonstrated their strength in the Covid-19-pandemic.E.ON's operating business developed very robustly in the first nine months. As anticipated, nine-month adjusted EBIT declined by about €300 million to €2.7 billion. Adjusted net income decreased from €1.3 billion in the prior year to €1.1 billion.The decline is predominantly attributable to the adverse impact of the Covid-19-pandemic and unseasonably warm weather at the start of the year. About half of the adverse results effects of Covid-19 will be recorded at the regulated network business. Regulatory mechanisms in the various markets will make it possible to recover a large portion of these effects in 2022 to 2024.In view of these robust results, E.ON confirms the full-year outlook it revised at mid-year to reflect the corona pandemic's results impact. E.ON continues to expect the Group's 2020 adjusted EBIT to be between €3.6 and €3.8 billion and its adjusted net income to be between €1.5 and €1.7 billion.E.ON CFO Marc Spieker said: "We've delivered a strong operating performance in the current financial year. The energy networks and customer solutions businesses deliver robust results. Taking timely, prescient action has enabled us and will continue to enable us to limit the pandemic's impact. The sustainable effects are therefore moderate, and our business model has demonstrated its high degree of resilience during the crisis. This gives us the confidence to fully confirm both our medium-term targets and dividend guidance."Operating performance as plannedThe Energy Networks segment in particular put in a stable performance and contributed adjusted EBIT of roughly €2.3 billion to the Group's total earnings. This was about 9 percent less than the pro forma prior-year figure. The reasons included regulatory effects in Sweden and a reduction in volumes due to the Covid-19-pandemic.The Customer Solutions segment's adjusted EBIT declined to €378 million, which is 10 percent lower than the pro forma prior-year figure. Significant operating improvements, primarily in the United Kingdom, could not fully compensate for the effects of the warmest start to the year since weather records began and of the pandemic.The digitalization of processes at Customer Solutions is making great strides. To date, E.ON has already migrated one million customer accounts in the United Kingdom to its new digital customer platform. The company expects the transformation in this market to be fully completed by mid-2022. The migration of E.ON's customers in Germany to a new cloud-based digital platform is moving forward as planned as well.innogy takeover concluded, integration on scheduleThe innogy takeover was successfully completed. E.ON swiftly carried out the sale of customer solutions businesses in Hungary and the Czech Republic as well as the heating electricity business in Germany, which were conditions the European Commission had imposed to clear the transaction. In addition, effective October 1, E.ON had migrated about 2.5 million innogy customers to the E.ON brand family. As planned, E.ON will therefore deliver the innogy transaction's planned synergies of about €740 million from 2022 onward and about €780 million from 2024 onward.Stimulus packages create growth opportunities for E.ONOf the €750 billion in total funding that the EU will make available for economic recovery in the Covid pandemic, around €60 billion is earmarked for climate-related expenditures in the relevant E.ON markets. This could create growth opportunities and future earnings potential for E.ON. E.ON is already successfully implementing projects co-financed by the EU. Examples include smart grid initiatives on the Czech-Slovak border and the "Danube-InGrid-project" to improve supply security in the border region of Slovakia and Hungary. Projects like these support E.ON's medium-term target of achieving annual growth in its regulated asset base for power of 4 to 5 percent on average.This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to align them to future events or developments.11.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: E.ON SE Brüsseler Platz 1 45131 Essen Germany Phone: +49 (0)201-184 00 E-mail: info@eon.com Internet: www.eon.com ISIN: DE000ENAG999 WKN: ENAG99 Indices: DAX, EURO STOXX 50 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange EQS News ID: 1147138   End of News DGAP News Service

  • EQS Group

    E.ON SE: E.ON with robust first-half results despite COVID-19

    DGAP-News: E.ON SE / Key word(s): Half Year Results 12.08.2020 / 07:00 The issuer is solely responsible for the content of this announcement. E.ON with robust first-half results despite COVID-19 * First-half results underpins the business model's resilience: bulk of pandemic's impact has no long-term implications * Medium-term forecast and dividend policy reaffirmed, full-year forecast revised * innogy takeover completed after squeeze-out, integration proceeding according to plan * Stimulus packages and Green Deal create additional growth opportunities for E.ON's core businessesFollowing the conclusion of the innogy takeover, European energy company E.ON has again demonstrated its resilience in the current economic crisis.Assuming that there is not another far-reaching lockdown in E.ON's core markets, the company expects that the bulk of COVID-19's impact is already reflected in its half year numbers. About €150 million-or half of the €300 million in total adverse earnings from COVID-19 anticipated in 2020, are attributable to the company's regulated network business. Due to regulatory mechanisms in the various markets, most of these effects can be recovered in the years 2022 to 2024.The adverse earnings impact on E.ON's customer business likewise totals about €150 million. This business so far has remained largely unaffected by major payment defaults; provisions for increased credit losses are responsible for only a small portion of the adverse impact. The majority of it resulted from the early and precautionary sell back of electricity that had originally been procured for customers but that could not be sold as a result of the lockdown. The sell back enabled E.ON to significantly reduce its risks early on.COVID-19's total unrecoverable adverse impact in 2020 is thus limited to only about 2 percent of EBITDA. Against this backdrop, E.ON reaffirmed its medium-term targets and its dividend policy. E.ON also revised its forecast for full-year 2020 to reflect COVID-19's technical earnings effects which are now more apparent. Taking into account the effects of the COVID-19 pandemic that are already foreseeable today, E.ON expects the Group's adjusted EBIT for the 2020 financial year to be between €3.6 and €3.8 billion and its adjusted net income to be between €1.5 and €1.7 billion. Previously E.ON had announced forecast ranges of €3.9 to €4.1 billion for adjusted EBIT and €1.7 to €1.9 billion for adjusted net income. At the end of the first quarter the company had unequivocally emphasized that these figures did not yet include effects involving the deferral of earnings in the network business due to regulatory mechanisms. From today's perspective, these effects are now sufficiently quantifiable.E.ON unconditionally reaffirmed the earnings ambitions for 2022 communicated at the Capital Markets Day in the spring and merely made a technical adjustment to its growth rates by updating its forecast for 2020. E.ON also reaffirmed its announced intention of increasing its dividend payout by up to 5 percent annually through the dividend for the 2022 financial year.As anticipated, the E.ON Group's adjusted EBIT for the first six months of 2020 declined owing to the aforementioned effects to roughly €2.2 billion compared with €2.3 billion in the prior year. Adjusted net income decreased to €933 million from €1.05 billion in the prior year.CEO Johannes Teyssen emphasized: "We can now see much more clearly than at the end of the first quarter and can look ahead to the second half of the current year with greater confidence. We delivered a strong first-half operating performance. Despite COVID-19, all our businesses are running smoothly and robustly. We were able to limit the pandemic's repercussions, which so far have been mild. We were even able to make up for the adverse impact of weather factors in the first quarter. This enables us to fully reaffirm our medium-term targets as well as our dividend policy."innogy takeover concluded, integration on scheduleThe squeeze-out of the remaining minority shareholders in early June enabled E.ON to take the final big step of the complete takeover of innogy. The sale of businesses in Hungary, the Czech Republic, and Germany, which was a condition imposed by the European Commission, is being implemented by E.ON as planned. It has already signed the necessary agreements with buyers. The disposals will yield proceeds of around €1 billion. "Despite a difficult market environment," Johannes Teyssen said, "we were able to realize the full value of these attractive retail businesses. From an economic perspective, we're therefore very satisfied with the sales."In late July E.ON concluded a memorandum of understanding with the Slovakian government to acquire RWE's 49-percent stake in VSEH's business. The government is not exercising its right of first refusal on the change of ownership. Going forward, E.ON will serve 1.5 million customers in Slovakia and become the biggest network operator in a key Eastern European market.From today's perspective, E.ON also expects to deliver the planned synergies from the innogy transaction of roughly €740 million from 2022 onward and roughly €780 million in 2024. It plans for the integration to result in a total of up to 5,000 redundancies.Strong operating performanceCFO Marc Spieker presented a robust first-half operating performance amid the global pandemic: "As anticipated, the COVID-19 crisis affected our EBIT in the second quarter. However, the decline relative to the first half of 2019, which resulted largely from the pandemic's repercussions, was comparatively mild. Through operating measures, E.ON was able to fully offset the reduction in sales volume in warm winter months that had adversely affected earnings in the first quarter. The main effect is the technical deferral of earnings to subsequent years. From an operating perspective, our business model demonstrated its high degree of resilience and effectiveness."The Energy Networks segment is operating stably in all markets and recorded adjusted EBIT of roughly €1.7 billion, approximately €250 million less than the pro forma figure for 2019. About €100 million of this is attributable to a reduction in sales volume due to COVID-19. Lower earnings in Sweden resulting from the new regulatory period that began this year constituted another adverse factor.Relative to the pro forma prior-year figure, the Customer Solutions segment's adjusted EBIT rose by €14 million to €457 million. E.ON is pushing ahead the digitalization of services in its customer solutions business. More than 1 million customers in Germany are already served by a new digital platform as of today. That number will increase to 4 million by year-end and to all customers in Germany by 2024. The restructuring of E.ON's business in the United Kingdom is also moving forward as planned. About 10,000 customers per day are being migrated to the new digital customer platform that E.ON developed with Kraken Technologies. The company expects the transformation in this market to be completed by mid-2022.Stimulus packages create growth opportunities for E.ONThe economic stimulus packages adopted by the European Union and the German federal government underpin E.ON's strategic position by providing substantial additional investment opportunities in the company's core business, particularly in networks, batteries, storage devices, and infrastructure. At the presentation of its numbers for the first quarter of 2020, E.ON had already announced €500 million in additional infrastructure investments for climate protection and economic stimulus. Its network investments in 2020 will be €200 million higher than originally planned.E.ON will leverage the expertise of its regional companies to help implement Germany's national hydrogen strategy. Hydrogen has the potential to play a key role in the complete decarbonization of industry, transport, and housing. E.ON will support the market ramp-up at all stages of the value chain-from production and storage to distribution and end-use by customers-to help decarbonize the various sectors until 2050. Today, the company already has 50 hydrogen projects in Europe. E.ON's network companies are making their gas distribution networks H2-ready. By connecting their distribution networks to distributed power-to-gas production facilities and to the planned hydrogen transport network, they aim to mix natural gas with green gases. The chairperson of the National Hydrogen Council established this year by the German federal government is from E.ON.This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to align them to future events or developments. * * *12.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: E.ON SE Brüsseler Platz 1 45131 Essen Germany Phone: +49 (0)201-184 00 E-mail: info@eon.com Internet: www.eon.com ISIN: DE000ENAG999 WKN: ENAG99 Indices: DAX, EURO STOXX 50 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange EQS News ID: 1115811 End of News DGAP News Service