Energy industry: Energy group Eon again earns billions

Germany’s largest electricity supplier and network operator Eon achieved its goals in the past financial year and once again generated a billion gain. The adjusted profit before interest, taxes and depreciation (EBITDA) was three percent below the previous year’s value at 9.0 billion euros, as the company said in Essen.

However, analysts had expected an even greater decline. The adjusted surplus decreased by seven percent to 2.9 billion euros. Eon boss Leonhard Birnbaum spoke of a “strong group result”.

The shareholders should benefit a little more than in the previous year. Eon wants to propose a dividend of 0.55 cents per share after 0.53 cents for 2023.

Eon now wants to invest 43 billion euros to 2028 to 2028

The energy group announced an increase in the planned investments in the period 2024 to 2028 by one billion euros. They now want to invest 43 billion euros, including 35 billion euros in the network infrastructure.

In the current year, adjusted EBITDA is to land between 9.6 and 9.8 billion. In the adjusted surplus, Eon expects a value between 2.85 and 3.05 billion euros. By 2028, the adjusted Group Bitda should increase to more than 11.3 billion euros and the adjusted group surplus to around 3.4 billion euros, Eon announced.

The energy giant, headquartered in Essen, has around twelve million electricity and two million natural gas customers in Germany. Eon is the largest electricity distribution network operator in Germany: At 32 percent, almost a third of the distribution network belongs to the group. Eon is also one of the largest charging column operators.