E.ON SE

Earnings Release • Oct 27, 2010

News Details

Ad-hoc | 27 October 2010 08:37

E.ON AG: E.ON posts an impairment charge

E.ON AG / Key word(s): Final Results/Interim Report

27.10.2010 08:37

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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E.ON posts an impairment charge
Nine months earnings up by 9 percent

Since the last comprehensive valuation in late 2009 the market environment
in Italy, Spain and France has deteriorated in E.ON's opinion because of
the negative effects of the financial and economic crisis.

In the aforementioned markets, the development of electricity and commodity
prices is in some cases leading to significantly lower margins and capacity
utilisation. As a result, the expected contributions to EBIT by these
markets have deteriorated in the medium to long term. Consequently, E.ON
sees a need for an impairment charge of approx. EUR 1.1 billion on goodwill
and approx. EUR 1.5 billion on other assets, mainly in connection with the
activities in Italy, Spain and France acquired from Enel/Acciona and
Endesa.

The impairments reduce the Group's net income. There is no impact on
adjusted EBIT and adjusted Group net income (assessment basis for dividend
payments). Furthermore, the impairments are not cash effective either.
In the third quarter the positive business development of the E.ON Group
continued. Adjusted EBIT rose in the first nine months by 9 percent to EUR
8.0 billion (prior year: EUR 7.3 billion). Accordingly E.ON is able to
confirm the outlook for 2010 with an increase in adjusted EBIT between 0
and 3 percent as well as adjusted Group net income at the prior-year level.
The aforementioned figures are based on the provisional, not yet finally
reviewed E.ON Group interim statements as of 30 September 2010 and are
therefore subject to change.

In accordance with IAS 36, E.ON is required to carry out impairment tests
on a regular basis or for specific reasons.

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Language: English
Company: E.ON AG
E.ON-Platz 1
40479 Düsseldorf
Deutschland
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 Frankfurt (Prime Standard), Berlin,
Stuttgart, Hannover, Hamburg, München, Düsseldorf;
Terminbörse EUREX; Foreign Exchange(s) Mailand

End of Announcement DGAP News-Service

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