E.ON share gains before the market: E.ON significantly improves adjusted net income in 2021

The Group benefited from a good result in the customer solutions business, partly due to the successful restructuring of the business in Great Britain. The non-core business also contributed to the result thanks to higher utilization of power plants and higher energy prices. As announced at the Capital Markets Day in November, shareholders are to be paid a dividend of EUR 0.49, 2 cents more than in the previous year.

Adjusted EBITDA increased by EUR 1 billion to EUR 7.9 billion for the year as a whole. Adjusted net income was 2.5 billion euros, an increase of 53 percent. Analysts had expected adjusted EBITDA of 7.762 billion euros and adjusted net income of 2.354 billion euros.

According to the other information, the economic net debt fell by around 2 billion euros to 38.8 billion euros compared to the previous year. The group cites the decline in pension provisions as the reason. The leverage factor fell to 4.9 percent, achieving the targeted 2021 target of a leverage factor of 4.8 to 5.2.

For 2022, E.ON SE expects adjusted net income of between EUR 2.3 and 2.5 billion, which would correspond to earnings per share of EUR 0.88 to 0.96. The EBITDA should be between 7.6 and 7.8 billion euros. According to the announcement, the forecast does not include measures to optimize the portfolio. E.ON announced in November 2021 that it would carry out divestments worth between EUR 2 billion and EUR 4 billion. The goal of increasing the dividend by up to 5 percent annually until 2026 was confirmed.

E.ON shares on the Tradegate trading platform temporarily rose by more than three percent compared to the pre-market XETRA close.

FRANKFURT (Dow Jones)

Image sources: 360b / Shutterstock.com, E.ON