E.ON 1Q Profit Rose, Backs 2022 View
May 11 2022 - 12:37AM
Dow Jones News
By Giulia Petroni
E.ON SE on Wednesday said that profit rose in the first quarter
and backed its full-year outlook even though its quarterly
performance was hit by a difficult market environment and high
energy costs.
The German utility said it registered a net profit of 830
million euros ($875.7 million) in the quarter, up from EUR801
million a year earlier. On an adjusted basis, profit came in at
EUR679 million.
Adjusted earnings before interest and taxes were down to EUR2.08
billion from EUR2.45 billion a year earlier, while sales jumped to
EUR29.51 billion from EUR18.40 billion.
For the full year, E.ON confirmed it expects an adjusted net
profit of EUR2.3 billion-EUR2.5 billion and adjusted earnings per
share of 88 European cents to 96 European cents. Adjusted earnings
before interest, taxes, depreciation and amortization is seen at
between EUR7.6 billion and EUR7.8 billion.
The company also reiterated its dividend proposal of EUR0.49 a
share for 2021 and the aim to increase the dividend by up to 5%
annually through 2026.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
May 11, 2022 01:22 ET (05:22 GMT)
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