E.ON posts stable Q1 profits, raises investments by a quarter
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2024
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Source: reuters
- E.ON's First-Quarter Performance: E.ON reported stable first-quarter profits with a 1% increase in adjusted core profit (EBITDA) at 2.745 billion euros and a 2% rise in adjusted net profit at 1.047 billion euros.
- Increased Investments: The company noted that investments rose by approximately 25% as it focuses on expanding spending on energy grids.
- Financial Outlook: E.ON confirmed its financial outlook for the year, expecting adjusted EBITDA to be between 8.8 billion and 9 billion euros and adjusted net profit to range from 2.8 billion to 3.0 billion euros.
- Analysts' Expectations: Analysts, according to a poll provided by the company, had anticipated slightly higher figures with an average expectation of 8.9 billion euros for adjusted EBITDA and 2.9 billion euros for adjusted net profit.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
