08.05.2013
E.ON SE DE000ENAG999
DGAP-News: E.ON SE: E.ON's first-quarter results in line with expectations
DGAP-News: E.ON SE / Key word(s): Interim Report
E.ON SE: E.ON's first-quarter results in line with expectations
08.05.2013 / 07:30
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E.ON's first-quarter results in line with expectations
* As anticipated, EBITDA(1) and underlying net income below prior-year
figures
* Significant reduction in debt
* Forecast confirmed: EBITDA expected to be EUR9.2 - EUR9.8 billion,
underlying net income EUR2.2 - EUR2.6 billion
E.ON SE recorded EBITDA of roughly EUR3.6 billion in the first quarter of
2013, EUR0.2 billion below the prior-year figure.
Divestments reduced E.ON's earnings by EUR0.2 billion, lower output and
narrower margins in fossil-fueled generation by EUR0.1 billion compared to
the prior-year period. Earnings were positively affected by EUR0.1 in cost
savings delivered the E.ON 2.0 efficiency-enhancement program and by higher
earnings at the Renewables segment, which resulted mainly from an increase
in installed generating capacity.
E.ON's underlying net income declined from EUR1.7 billion in the prior-year
period to EUR1.4 billion. Alongside the above-described EBITDA effects,
this reflects a normalization of the company's tax rate. The decline was
partially counteracted by slightly lower depreciation charges and interest
expenditures.
The E.ON Group's first-quarter investments declined by 21 percent year on
year to EUR0.9 billion. Its operating cash flow of EUR1.6 billion was
considerably higher than the prior-year figure of EUR0.4 billion.
E.ON's economic net debt stood at EUR31.6 billion at March, 31, 2013, a
decline of EUR4.3 billion from the figure at year-end 2012. The main reason
for the improvement was that divestment proceeds and positive operating
cash flow significantly surpassed investment expenditures. Net financial
debt declined to EUR10.4 billion as of the first-quarter balance-sheet
date.
E.ON expects its full-year 2013 EBITDA to be between EUR9.2 and EUR9.8
billion. This forecast factors in the loss of earnings streams through
asset sales under the company's ongoing divestment program. E.ON expects
its 2013 underlying net income to be between EUR2.2 and EUR2.6 billion.
(1)Adjusted for extraordinary effects.
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This press release may contain forward-looking statements based on current
assumptions and forecasts made by E.ON Group management and other
information currently available to E.ON. Various known and unknown risks,
uncertainties and other factors could lead to material differences between
the actual future results, financial situation, development or performance
of the company and the estimates given here. E.ON SE does not intend, and
does not assume any liability whatsoever, to update these forward-looking
statements or to conform them to future events or developments.
End of Corporate News
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Language: English
Company: E.ON SE
E.ON-Platz 1
40479 Düsseldorf
Germany
Phone: +49 (0)211 4579-0
Fax: +49 (0)211 45 79-5 01
E-mail: [email protected]
Internet: www.eon.com
ISIN: DE000ENAG999
WKN: ENAG99
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, Hannover, München, Stuttgart;
Terminbörse EUREX; Mailand
End of News DGAP News-Service
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