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E.ON Energy Group Adds 2 Cents to Earnings

E.ON Energy Group Adds 2 Cents to Earnings

Profit from growth in the customer solutions business. Participation in Nord Stream 1 can become an assessment risk.

German energy group E.ON increased its earnings in fiscal year 2021. On Wednesday, the company announced revised Ebitda up 1 billion euros to 7.9 billion euros. E.ON has been able to grow fundamentally in business using customer solutions. Shareholders will receive a dividend of 49 cents per share after the previous 47 cents.

For 2022, E.ON is targeting an EBITDA rate of 7.6 to 7.8 billion euros. E.ON regards its stake in the Nord Stream 1 gas pipeline in the Baltic Sea as a risk.

“E.ON successfully closed and exceeded expectations, thus strengthening the financial basis for future growth,” said Chief Financial Officer Mark Spiker. In the business of customer solutions, the group has benefited from the restructuring of the UK sales business, among others. In addition, the Future Energy Home division, which sells solar energy and battery storage systems, increased the number of installed systems by a quarter to 125,000. Nuclear power plants, no longer part of the core business, used particularly high energy and benefited from higher prices. electricity.

E.ON set itself new goals for profit and growth under new president Leonard Birnbaum last fall. For 2026, Ebitda’s revised target of about 7.8 billion euros is targeted for the core business. In addition, the group wants to expand its business from 2022 to 2026 with investments of about 27 billion euros. The previous dividend policy of up to five percent dividend growth annually has been extended through 2026.

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(APA/Reuters)