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E.ON H1 Adj. Earnings Climb On Strong Revenue Growth; Lifts FY21 View

German electric utility E.ON AG (EONGY.PK) reported Wednesday that its first-half adjusted net income was 1.8 billion euros, 86 percent from prior year's 950 million euros.

Adjusted EBIT went up 45 percent to about 3.2 billion euros from 2.2 billion euros a year ago. First-half adjusted EBIT in core businesses was around 2.4 billion euros, up 26 percent from last year's 1.9 billion euros.

Sales rose by 2.4 billion euros year on year to 33 billion euros.

Further, E.ON has increased its outlook for the 2021 financial year, in view of the repayment of expenditures for residual power output rights.

The company now expects to achieve an adjusted EBIT target of 4.4 billion euros to 4.6 billion euros and adjusted net income of 2.2 billion euros to 2.4 billion euros for full-year 2021.

The company further affirmed its earnings plan through 2023, including its dividend promise.

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