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E.ON Posts 9-month Adj Net Income Of EUR 2.1 Bln; Reaffirms FY22 Outlook

E.ON SE (EONGY.PK), on Wednesday, reported 9-month adjusted net income of EUR 2.1 billion, and adjusted EBITDA of EUR 6.1 billion.

Group adjusted EBITDA of roughly EUR 6.1 billion was about EUR170 million below prior-year level, largely reflecting the Non-Core Business's EBITDA, which was significantly lower this year than last, as it had benefitted from a positive one-off effect in 2021.

However, earnings in E.ON's core business increased from about EUR 5 billion to just over EUR 5.3 billion.

Looking ahead, the company reaffirmed its earnings outlook for fiscal year 2022, given the
nine-month performance was as projected. E.ON continues to expect an adjusted EBITDA of EUR7.6 billion - EUR7.8 billion and an adjusted net income of EUR2.3 - EUR2.5 billion. The latter corresponds to adjusted earnings per share of 88 cents - 96 cents.

Meanwhile, E.ON adjusted the forecast range of the Non-Core Business from EUR0.8 billion - EUR1 billion to now EUR0.9 - EUR1.1 billion and for Energy Networks from EUR5.5 - EUR5.7 billion to now EUR5.3 - EUR5.5 billion.

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