EONGY E ON SE (PK)

1229 GMT - E.ON is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after unveiling plans to boost investments in the coming years on the back of solid 2022 results and an optimistic outlook. Chief Executive Leonhard Birnbaum said the German company registered a strong operating performance in 2022 amid macroeconomic challenges, and while 2023 remains a "crisis year," the company still sees growth potential ahead. Investments are targeted at EUR33 billion until 2027--from a previous plan of EUR27 billion for 2022-26--with around EUR4 billion allocated toward energy networks. "Networks are the backbone of the energy transition, which can only move forward successfully if network expansion keeps pace with the continually growing demand for connections for renewables facilities," E.ON said. The company targets an adjusted Ebitda of between EUR7.8 billion and EUR8 billion for the current year, which it says will be achieved through investment-driven growth in its core business despite lower nuclear-energy earnings. Adjusted net income is seen at between EUR2.3 billion to EUR2.5 billion in 2023. Dow Jones & Co. owns Factiva. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

March 15, 2023 08:45 ET (12:45 GMT)

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