E.ON Exceeds Expectations with Strong 2023 Earnings

by Warren Seah

E.ON, the German energy company, announced on Thursday that its 2023 earnings surpassed expectations, according to selected preliminary results.

Solid Growth in Adjusted Net Income

For the full year, E.ON reported an increase in adjusted net income to €3.1 billion ($3.4 billion) compared to €2.73 billion in 2022. This was above the company’s target of €3.1 billion.

Robust Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)

E.ON’s adjusted earnings before interest, taxes, depreciation, and amortization also showed strong growth, climbing to €9.4 billion from €8.06 billion in the previous year. This exceeded the company’s forecast range of €8.6 billion to €8.8 billion.

Continued Positive Momentum

The positive trend observed in the first nine months of 2023 continued into the last quarter, surpassing expectations, according to E.ON. The energy-networks segment delivered results that were above forecasts in the fourth quarter, primarily due to favorable operating effects across most countries.

Adjusted Earnings Per Share Exceed Targets

In 2023, adjusted earnings per share reached €1.18, outperforming the target range of €1.03 to €1.11.

The results provided by E.ON have not yet been verified and will be officially released on March 13.

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