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    EOAN   DE000ENAG999

E.ON SE

(EOAN)
  Report
Delayed Quote. Delayed Xetra - 06/21 11:35:29 am
9.983 EUR   -0.07%
06/21EON AG  : Kepler Cheuvreux reaffirms its Buy rating
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06/21EON AG  : UBS remains Neutral
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06/18EON AG  : Goldman Sachs keeps its Buy rating
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

E.ON flags faster UK turnaround as CEO Teyssen bows out

03/24/2021 | 01:32am EDT

* British retail unit to deliver profit one year early

* E.ON proposes dividend of 47 euro cents for 2020

* Adj EBIT seen at 3.8 bln-4 bln euros in 2021

FRANKFURT, March 24 (Reuters) - E.ON, Germany's largest listed energy group, said on Wednesday its British retail business was recovering faster than expected, and proposed a higher dividend due to the limited impact of the COVID-19 pandemic.

"Amid the biggest economic crisis since World War II, the new E.ON demonstrated its strength in impressive fashion," Chief Executive Johannes Teyssen, who will hand over the reins to Leonhard Birnbaum in April after 11 years at the helm, said.

During his tenure, E.ON spun off its former power plant division Uniper in response to Germany's nuclear phase-out, and agreed a major asset swap with RWE, turning it into Europe's largest operator of energy networks.

E.ON's UK retail unit, which includes the Npower brand acquired as part of the swap, is likely to deliver more than 100 million pounds ($137 million) in profit this year, one year ahead of schedule.

"The turnaround in the United Kingdom is a success," Teyssen said.

In Britain, E.ON's second-largest market after Germany, the group still lost about 600,000 clients, or 5.5%, in the course of 2020 as part of the ongoing restructuring.

E.ON said it would propose a dividend of 0.47 euros for 2020, up marginally from 0.46 euros in 2019.

Adjusted operating profit (EBIT) rose 17% to 3.78 billion euros in 2020, while adjusted net profit was up 7% at 1.64 billion, E.ON said. They are seen at 3.8 billion-4 billion euros and 1.7 billion-1.9 billion euros in 2021 respectively.

($1 = 0.7294 pounds)

($1 = 0.8449 euros) (Reporting by Christoph Steitz and Tom Kaeckenhoff; Additional reporting by Vera Eckert; Editing by Riham Alkousaa, Sherry Jacob-Phillips and Jan Harvey)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
E.ON SE -0.07% 9.983 Delayed Quote.10.14%
RWE AG 0.07% 30.27 Delayed Quote.-12.44%
UNIPER SE 0.59% 30.78 Delayed Quote.8.99%
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Financials
Sales 2021 62 165 M 74 039 M 74 039 M
Net income 2021 1 538 M 1 832 M 1 832 M
Net Debt 2021 32 940 M 39 231 M 39 231 M
P/E ratio 2021 16,4x
Yield 2021 4,89%
Capitalization 26 029 M 31 009 M 31 001 M
EV / Sales 2021 0,95x
EV / Sales 2022 0,93x
Nbr of Employees 76 086
Free-Float 83,7%
Chart E.ON SE
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E.ON SE Technical Analysis Chart | MarketScreener
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Technical analysis trends E.ON SE
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 11,32 €
Last Close Price 9,98 €
Spread / Highest target 33,2%
Spread / Average Target 13,4%
Spread / Lowest Target -11,9%
EPS Revisions
Managers and Directors
NameTitle
Leonhard Birnbaum Chairman-Management Board
Marc Spieker Chief Financial Officer
Karl-Ludwig Kley Chairman-Supervisory Board
Markus Nitschke Head-Technology & Innovation, Sustainable Cities
Karen Maria Alida de Segundo Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
E.ON SE10.14%31 009
NATIONAL GRID PLC7.16%45 373
ELECTRICITÉ DE FRANCE-9.81%43 528
SEMPRA ENERGY8.67%41 711
ENGIE-5.75%34 096
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED1.78%29 972