E.ON reports Q1 revenue of €9.2B, up 4.5% YoY

Monday, 13. May 2019 07:36

German power company E.ON SE said on Monday that its revenue for the first quarter of 2019 stood at €9.16 billion, up 4.55% compared to the first quarter of the previous year. Despite this, the company's adjusted net income compared to the first three months of 2018 was €650 million, reduced by 10.6% year-on-year.

E.ON Group's first-quarter earnings before interest and taxes (EBIT) came at €1.17 billion, marking a reduction of 8.5%, while the energy networks' sales amounted to €2.5 billion, marking a 3% increase year-over-year. The German company's net income attributable to shareholders was reported at €393 million, a 55.3% drop on an annual basis, with the corresponding earnings per share of €0.18, a 56.1% increase. At the same time, sales at non-core divisions and renewable sector rose significantly in 2019, jumping 21% and 19%, respectively.

"Against this backdrop, we still expect the E.ON Group’s 2019 adjusted EBIT to be between €2.9 and €3.1 billion and its 2019 adjusted net income to be between €1.4 and €1.6 billion," the earnings report concluded.

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Breaking the News / MA