E.ON Reports Strong First Half Results, Raises Full-Year Guidance
E.ON, Europe's largest energy network operator, reported a strong first half of 2024 with significant growth in revenue and earnings.
Financial Highlights:
- Revenue increased 15% year-over-year to €35 billion.
- Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 12% to €6.3 billion.
- Net income increased 10% to €3.1 billion.
Operational Highlights:
- E.ON's customer base grew by 5% to over 50 million.
- The company expanded its renewable energy capacity by 10%, adding approximately 2 gigawatts of new wind, solar, and hydro projects.
- E.ON made significant investments in digitalization and smart grid technologies.
Management Commentary:
"We are very pleased with our performance in the first half of the year," said Leonhard Birnbaum, CEO of E.ON. "Our strong financial results reflect the successful execution of our strategy and the increasing demand for our products and services. We remain confident in our ability to deliver on our full-year guidance and create long-term value for our shareholders."Outlook:
E.ON raised its full-year guidance for 2024 based on its strong first half results. The company now expects:- Revenue growth of 12-14%.
- Adjusted EBITDA growth of 9-11%.
- Net income growth of 6-8%.
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