E.ON (ETR:EONGn) on Wednesday reported a 13% increase in adjusted Group EBITDA to €5.5 billion in the first half of 2025 from €4.9 billion a year earlier, citing higher investments and improved operating performance.
Adjusted Group net income rose 10% to €1.9 billion from €1.8 billion. The company maintained its full-year forecast for adjusted Group EBITDA of €9.6 billion to €9.8 billion and adjusted Group net income of €2.85 billion to €3.05 billion, equal to earnings per share of €1.09 to €1.17.
The Energy Networks segment posted adjusted EBITDA of €4 billion, up from €3.3 billion, supported by accelerated investments in network expansion, modernization and digitalization, as well as temporary gains from higher distribution volumes in Germany and Southeastern Europe and catch-up effects from prior network loss costs.
E.ON said these temporary gains will be passed on to customers through grid fees.
The Energy Retail segment’s adjusted EBITDA fell to €1.3 billion, down about €100 million, as warm weather and strong sunshine in the second quarter reduced sales volumes in the Netherlands and the United Kingdom. Margins in the UK B2B and B2C markets also normalized from higher levels last year.
Energy Infrastructure Solutions adjusted EBITDA rose more than 30% to about €330 million, driven by favorable weather, improved asset availability in Scandinavia and the UK, new project commissioning and the continued smart meter rollout in the UK.
Total investments reached €3.2 billion, 11% higher than €2.9 billion a year earlier. Of this, €2.5 billion was directed to the network business, including expansion, new grid connections, and modernization.
The electric utility company plans to invest €43 billion between 2024 and 2028, with €35 billion allocated to networks.
E.ON raised concerns about the Federal Network Agency’s draft rules for the fifth regulatory period, citing lower proposed returns on investment, efficiency benchmarks that could penalize high-investment operators, and the inclusion of redispatch costs as controllable by grid operators despite limited regional coordination of renewable energy expansion.
Source :
https://www.investing.com/news/earnings/eon-firsthalf-ebitda-rises-13-on-higher-investments-guidance-reaffirmed-4187101
