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MarketScreener Homepage  >  Equities  >  Xetra  >  E.ON SE    EOAN   DE000ENAG999

E.ON SE

(EOAN)
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E ON : Germany earmarks ?500 million for electric car charging - sources

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06/09/2020 | 12:26pm EDT
A shared electro car gets charged at a Jelbi-Station in Berlin

By Markus Wacket

The German economy ministry wants to earmark 500 million euros (£445 million) from Berlin's bumper stimulus package to support the roll-out of charging stations for electric cars, two government sources told Reuters on Tuesday.

The sum, part of 2.5 billion euros specifically aimed at expanding electric vehicle infrastructure, will be targeted at private users, including households and builders, the sources said.

Berlin aims to install about one million public charging spots by 2030, up from 27,730 currently, a key step in addressing consumers' concerns about the driving range of battery-powered cars, which so far account for just 0.6% of vehicles on German roads.

It also addresses criticism from utility companies, including E.ON, which have called for support to households in addition to incentives for public chargers, which are 40-50% subsidised.

The ministry also suggested spending an extra 1.5 billion euros on supporting domestic battery cell production, which would more than double existing funds for that purpose, the sources said.

The remaining 500 million euros of the overall 2.5 billion euros should be earmarked for research and development, the sources added.

(Writing by Michael Nienaber and Christoph Steitz; Editing by Michelle Martin and Mark Potter)


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Financials
Sales 2020 64 137 M 76 031 M 76 031 M
Net income 2020 1 195 M 1 417 M 1 417 M
Net Debt 2020 34 543 M 40 949 M 40 949 M
P/E ratio 2020 17,6x
Yield 2020 4,97%
Capitalization 24 843 M 29 407 M 29 450 M
EV / Sales 2020 0,93x
EV / Sales 2021 0,91x
Nbr of Employees 80 366
Free-Float 83,7%
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 11,07 €
Last Close Price 9,53 €
Spread / Highest target 35,4%
Spread / Average Target 16,1%
Spread / Lowest Target -9,74%
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NameTitle
Johannes Teyssen Chairman-Management Board
Karl-Ludwig Kley Chairman-Supervisory Board
Karsten Wildberger Chief Operating Officer-Commercial
Marc Spieker Chief Financial Officer
Teresa Marie Jäschke Head-Digitization, IT, HR & Diversity
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