EnergyWatch

Eon beats forecast, maintains guidance

The German power company’s bottom line shows EUR 1.41bn, down 20% against the same period last year albeit higher than the EUR 1.33bn forecast by analysts.

Photo: E.ON

Eon closes the second quarter of 2022 with performance exceeding analyst estimates for both profit and revenue, shows the utility’s interim financial statement released Wednesday morning.

Earnings before interest and taxes for the first half year total EUR 2.68bn. Analysts had projected EUR 2.56, according to consensus estimates compiled by Bloomberg News. This, however, comprises a decrease of 15% relative to the same period of 2021.

Profit comes to EUR 1.41bn – a 20% year-over-year decrease, yet still a stronger result than the analyst prognosis of EUR 1.33bn.

Eon maintains its full-year guidance, targeting profit of EUR 2.3-2.5bn, with adjusted earnings before interest, taxes, depreciations and amortizations expected to the land in the interval of EUR 7.6-7.8bn.

Germany bails out Uniper in fallout from Russian gas squeeze

Eon’s operating result lagging amid revenue growth

Eon enters German hydrogen partnership




More from EnergyWatch

Ørsted forced to delay coal phase out

The Danish authorities have ordered Ørsted to continue operations of one coal fired power plant and resume operations on two others until 2024. The utilty maintains aim of CO2-neutrality in 2025.

Further reading

Related articles

Latest News

See all jobs