E.ON SE

Earnings Release • Nov 12, 2014

News Details

Corporate | 12 November 2014 07:30

E.ON SE: E.ON affirms 2014 forecast

E.ON SE / Key word(s): Interim Report

12.11.2014 / 07:30

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E.ON affirms 2014 forecast

* Adjusted for portfolio and currency-translation effects, EDITDA above prior-year level

* Renewables’ share of earnings rises to 17 percent

* Economic net debt reduced by EUR1.2 billion

E.ON today reported nine-month earnings that were in line with its expectations. It therefore continues to anticipate full-year 2014 EBITDA of EUR8 to 8.6 billion and underlying net income of EUR1.5 to EUR1.9 billion. Nine-month EBITDA declined by seven percent year on year to EUR6.6 billion. The absence of earnings streams from divested companies and adverse currency-translation effects were the main factors. On a like-for-like basis-that is, adjusted for portfolio changes and currency-translation effects-E.ON’s EBITDA was above the prior-year level.

EBITDA at the Renewables segment is growing continually and this year has again surpassed EUR1 billion. Renewables’ share of E.ON’s total EBITDA, which was 17 percent at nine months, is rising. The Generation segment, which encompasses conventional and nuclear power generation in Germany and other European markets, posted higher EBITDA thanks to non-recurring effects such as the savings in nuclear-fuel taxes resulting from the planned early decommissioning of Grafenrheinfeld nuclear power station. Earnings were also higher at the Exploration & Production segment, which delivered EBITDA of EUR0.9 billion.

“Our nine-month results have us on course for our full-year forecast,” E.ON CFO Klaus Schäfer said. “We’re working continually to improve our performance and to optimize our portfolio. Our cost-cutting program is making very good progress, and we’ve already met our full-year target of achieving EUR1.2 billion in lasting savings. At the nine-month mark we also reduced our debt by EUR1.2 billion, in particular because of the positive development of our operating cash flow.”

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group management and other information currently available to E.ON. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.

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Language:	English
Company:	E.ON SE
	E.ON-Platz 1
	40479 Düsseldorf
	Germany
Phone:	+49 (0)211 4579-0
Fax:	+49 (0)211 45 79-5 01
E-mail:	investorrelations@eon.com
Internet:	www.eon.com
ISIN:	DE000ENAG999
WKN:	ENAG99
Indices:	DAX, EURO STOXX 50
Listed:	Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München, Stuttgart; Terminbörse EUREX; Mailand

End of News	DGAP News-Service

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