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Innogy Turns To Profit In FY19

German energy utility Innogy SE (IGY.DE), which is majority owned by E.ON, reported that its income attributable to shareholders for fiscal year 2019 was 386 million euros or 0.70 euros per share compared to a loss of 653 million euros or 1.18 euros per share in the prior year.

Income from continuing operations was 190 million euros, compared to a loss of 606 million euros in the previous year.

Adjusted EBIT was 1.62 billion euros, down 23 percent from the prior year. Adjusted net income was 427 million euros, a reduction of around 39 percent, reflecting regulatory interventions in the British retail business in relation to introducing the price cap for standard tariffs and intense competitive pressure.

Annual revenue grew to 33.54 billion euros from 33.27 billion euros in the prior year.

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