As communicated at the start of the year, the massive increase in wholesale energy prices required E.ON to adjust its end-customer prices. The adverse effects were partially offset by operating improvements, particularly at the network business in Germany.Ĭustomer Solutions‘ adjusted EBITDA declined by €90 million year-on-year to just over €1 billion, mainly because of significantly higher procurement costs in energy sales. Earnings were adversely affected by milder weather and higher costs for line losses, primarily in Sweden and East-Central Europe. Group adjusted EBITDA of just under €4.1 billion was about €700 million below the prior-year figure, which had benefited primarily from positive one-off effects relating to residual power output rights.Į.ON’s stable network business made the largest contribution - roughly €2.7 billion - to EBITDA. Despite the ongoing crisis, we’re keeping our promises, from both an operating and financial perspective.”Į.ON’s business performed as anticipated in the first half of 2022, despite the difficult environment. This has enabled us to systematically pursue our course even in recent months, as our first-half results confirm. On course with first-half results, despite turbulent timesīirnbaum said: “Our business model puts us in the right position, particularly in the current tense situation. We’re doing our part by expanding our energy networks and sustainable customer solutions.” For this, the energy transition needs to move forward with even greater determination. To provide green, climate-friendly energy. To secure affordable energy for people in Europe.
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We again reaffirm our forecast for full year 2022.”īirnbaum continued: “The current energy crisis finally makes clear that Europe needs to transform its energy system. Our crisis management has enabled us to deliver solid half-year results. We’re helping Germany and our European markets respond to the extraordinary crisis in the short term and also working to establish long-term energy security by accelerating the energy transition. The energy company remains on course after the first half of 2022 and is systematically implementing its strategy despite the extreme turbulence on energy markets.Īt the presentation of the company’s results, CEO Leonhard Birnbaum said: “E.ON is living up it to its responsibilities. (PRESS RELEASE) ESSEN, / EuropaWire/ - E.ON (ETR: EOAN), one of Europe’s largest operators of energy networks and energy infrastructure, has announced that the company has again reaffirmed its forecast for full year 2022. Implementation of growth strategy on schedule demand for sustainable customer solutions rising.Economic net debt down significantly, declining by €1.3 billion to €37.4 billion.2022 forecast at Group level for investments, adjusted EBITDA, and adjusted net income reaffirmed.Leonhard Birnbaum, CEO of E.ON: Current energy crisis finally makes clear that Europe needs to transform its energy system
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