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E.ON FY18 Profit Drops; Issues Positive Forecast For FY19, FY20 - Quick Facts

(RTTNews) - German electric utility E.ON AG (EONGY.PK) reported Wednesday that its fiscal 2018 net income attributable to shareholders dropped 18 percent to 3.22 billion euros from 3.93 billion euros last year. Earnings per share were 1.49 euros, down 19 percent from 1.84 euros a year ago.

Adjusted net income was 1.51 billion euros, compared to 1.43 billion euros a year ago. Adjusted net income per share were 0.69 euro, compared to 0.67 euro a year ago.

Adjusted EBIT for the year dropped 3 percent from last year to 2.99 billion euros, and adjusted EBITDA fell 2 percent to 4.84 billion euros.

Sales declined 20 percent to 30.25 billion euros from last year's 37.97 billion euros.

Further, the company said its management will propose a dividend of 0.43 euro for the 2018 financial year. The company intends for the dividend to increase further as well. It intends to pay shareholders a fixed dividend of 46 cents per share for the 2019 financial year.

Looking ahead, E.ON issued positive forecast for 2019. E.ON anticipates adjusted EBIT of 2.9 billion euros to 3.1 billion euros and adjusted net income of 1.4 billion euros to 1.6 billion euros.

Through 2020, the company expects its current business portfolio to generate annual EBIT growth of 3 to 4 percent on average and earnings per share to rise by an average of 5 to 10 percent.

Further, the company said preparations for the integration of innogy are right on schedule.
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