E.ON 9-month Adj. EBIT Up 46%, Backs FY View

German electric utility E.ON AG (EONGY.PK) on Wednesday said its adjusted EBIT for the nine months grew 46 percent to about 3.9 billion euros, while its adjusted net income doubled to about 2.2 billion euros in the same period.

While adjusted EBIT at E.ON's core business rose by about 700 million euros to 3.1 billion euros, adjusted EBIT at its non-Core business rose by 562 million euros to 860 million euros.

Segment wise, Energy Networks' adjusted EBIT was up by 85 million euros to 2.4 billion euros, and Customer Solutions' adjusted EBIT increased by 515 million euros to 901 million euros.

The Group attributed the growth in Energy to positive margin effects at the network business in Germany, the nonrecurrence of Covid-19 effects and the inclusion of Slovakia-based VSEH.

For the nine-month period, the Group's sales rose by 4.8 billion euros to 48.1 billion euros, resulting in part from cooler weather in 2021 relative to 2020 and the inclusion of Slovakia-based VSEH.

Looking ahead to the full year 2021, the Essen-based group continues to expect adjusted EBIT of 4.4 billion - 4.6 billion euros, and adjusted net income of 2.2 billion - 2.4 billion euros.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Inditex SA were gaining around 6 percent in the morning trading in Spain after the clothing firm that owns Zara reported Wednesday significant growth in its first-quarter profit on higher revenues as well as the absence of a prior year provision. Regarding the second quarter to date, the company said its store and online sales in constant currency between May 1 and June 4 increased 16.. The U.S. Consumer Product Safety Commission or CPSC, along with Golden, Colorado-based Boppy Co., urged consumers to stop using recalled Boppy Newborn Loungers, following reports of more infant deaths. They also asked online marketplaces to stop selling the recalled product. The company in September 2021 had recalled over 3.3 million infant lounging pillows after it was connected with deaths of 8 Apple has unveiled a bunch of new products for its customers including its first spatial computer Vision Pro Headset. The tech major has also introduced iOS 17, 15-inch MacBook Air, iPadOS 17, TvOS 17 For Apple TV, WatchOS 10 For Apple Watch, New Mac Studio, Mac Pro, and M2 Ultra, among others. The Apple Vision Pro features visionOS, the world's first spatial operating system.
Follow RTT