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E.ON AG Q1 Adj. Net Income Declines; Reaffirms 2019 Forecast - Quick Facts

E.ON AG (EONGY.PK) said the company started its fiscal year by delivering a predominantly strong operating performance in all markets except the U.K. As the company expected, its first-quarter adjusted results were below strong prior-year figures. Looking forward, E.ON affirmed its guidance for the fiscal year. Also, the company said its deal with RWE is progressing as planned.

For the first-quarter, adjusted EBIT declined by 8 percent, to 1.2 billion euros. Adjusted net income was 650 million compared to 727 million euros, a year ago. First-quarter sales rose by roughly 0.4 billion euros year on year to 9.2 billion euros.

For 2019, E.ON AG continues to expect adjusted EBIT to be between 2.9 billion euros and 3.1 billion euros, and adjusted net income to be between 1.4 billion euros and 1.6 billion euros. The company also affirmed its dividend proposal of 46 cents per share for fiscal 2019.

E.ON said the preparations for the planned takeover of innogy are generally moving forward on schedule. The company expects to receive all necessary approvals in the second half of 2019.

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