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E.ON Q1 Adj. Net Income Rises; Affirms Forecast - Quick Facts

E.ON AG (EONGY.PK) reported a first quarter net loss attributable to shareholders of 327 million euros compared to profit of 387 million euros, previous year. Loss per share was 0.13 euros compared to profit of 0.18 euros. Adjusted net income was at 691 million euros, slightly above prior-year level of 650 million euros. Adjusted net income per share was 0.27 euros compared to 0.30 euros. Adjusted EBIT of just under 1.5 billion euros, surpassed the prior-year figure by 285 million euros. E.ON noted that the company increased its first-quarter earnings, primarily because of the innogy takeover. The COVID-19 pandemic had only a limited impact on the first quarter.

First-quarter sales increased to 17.7 billion euros from 9.1 billion euros, previous year. Sales of 4.7 billion euros at the Energy Networks segment surpassed the prior-year figure by 2.2 billion euros.

E.ON expects 2020 adjusted EBIT to be between 3.9 billion euros and 4.1 billion euros, and 2020 adjusted net income to be between 1.7 billion euros and 1.9 billion euros.

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