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Innogy H1 Profit Declines; Confirms FY17 Outlook - Quick Facts

Innogy SE (IGY.DE) reported that its first-half net income to shareholders decreased to 817 million euros from 1.08 billion euros, prior year. Earnings per share was 1.47 euros compared to 5.33 euros. Adjusted EBITDA was about 2.4 billion euros, up 2 percent year on year. Net of operating depreciation and amortisation, innogy posted adjusted EBIT of about 1.7 billion euros, an increase of 4 percent compared to the same period last year. Adjusted net income was up 16 percent, to 857 million euros.

The company generated external revenue of around 21.7 billion euros, which was down 5 percent year on year.

innogy maintained the outlook on the current year's business performance, which was first published on 13 March 2017 and confirmed on 12 May. It anticipates that the innogy Group will achieve about 4.4 billion euros in adjusted EBITDA and about 2.9 billion euros in adjusted EBIT. Adjusted net income is expected to total over 1.2 billion euros, thus exceeding the figure achieved in 2016 by at least 7 percent.

Peter Terium, CEO of innogy SE, said: "We still anticipate that adjusted net income will rise by at least 7 percent to over 1.2 billion euros. This is good news for our shareholders, since our dividend is based on adjusted net income, of which we intend to continue paying out 70 to 80 per cent in dividends. We will decide within the Executive Board together with the Supervisory Board on the exact dividend proposal for 2017 at the beginning of next year."

by RTT Staff Writer

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