E.ON 3Q Profit Rose; Backs 2022 Guidance
November 09 2022 - 1:47AM
Dow Jones News
By Giulia Petroni
E.ON SE on Wednesday said that profit rose in the third quarter
with a solid operating performance despite a challenging
environment, and backed its full-year guidance at group level.
The German energy company posted quarterly net profit of 1.56
billion euros ($1.56 billion) from EUR1.24 billion in the year
earlier. On an adjusted basis, net profit came in at EUR713
million.
Adjusted earnings before interest, taxes, depreciation and
amortization rise to EUR2.05 billion from EUR1.51 billion. Adjusted
EBIT was EUR1.36 billion.
Sales increased to EUR28.75 billion in the quarter compared with
EUR15.05 billion last year.
E.ON said it continues to expect adjusted net income of EUR2.3
billion to EUR2.5 billion and adjusted Ebitda of EUR7.6 billion to
EUR7.8 billion in 2022.
The company raised the forecast range for its non-core business
to EUR900 million to EUR1.1 billion from previous expectations of
EUR800 million-EUR1 billion. The range for energy networks was
lowered to EUR5.3 billion-EUR5.5 billion from previously EUR5.5
billion-EUR5.7 billion.
Regarding the German government's plans to introduce caps on
power and gas prices to support households, industry and commerce,
E.ON said it supports the caps and is currently preparing to
implement them.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 09, 2022 01:32 ET (06:32 GMT)
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