DGAP-News: E.ON SE / Key word(s): Half Year Results 
E.ON SE: E.ON delivers strong first-half performance and conducts successful crisis management in flood regions 
2021-08-11 / 07:00 
The issuer is solely responsible for the content of this announcement. 
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E.ON delivers strong first-half performance and conducts successful crisis management in flood regions 
  . Successful large-scale response swiftly restores electricity service in areas of Germany affected by floods 
  . Strong operating performance characterized by improvements at the sales business and a weather-driven increase in 
    gas sales volume; agreement on residual power output rights leads to significant earnings increase 
  . Adjusted EBIT up 45 percent to about ?3.2 billion, adjusted net income up 86 percent to roughly ?1.8 billion 
  . Forecast for 2021 financial year increased, medium-term targets and dividend policy affirmed 
The E.ON Group has almost fully restored electricity service in the areas of Germany affected by catastrophic storms in 
mid-July. E.ON swiftly assembled around 1,000 employees and specialists from across the country to help its Westenergie 
subsidiary and provide rapid assistance in the network areas affected. Presenting the company's first-half results, 
E.ON CEO Leonhard Birnbaum expressed his sympathy for the victims of the disaster and thanked all employees who were 
pushed to their limits in recent weeks. 
In this regard, Birnbaum emphasized the significance of strong, robust infrastructure. "The catastrophic events have 
served as a painful reminder of the paramount importance of reliable and resilient energy infrastructure. The 
distribution networks that we operate are particularly crucial for people's everyday lives." 
Birnbaum therefore called on German policymakers to accelerate consents processes and to establish a reasonable rate of 
return on investments in energy networks: "Strong and reliable infrastructure requires solid financing. It also 
requires an internationally competitive regulatory framework for investors to mobilize the necessary capital for this 
infrastructure." Even before Germany made its climate targets more ambitious, E.ON and RWTH Aachen University conducted 
a study whose calculations showed that the country will have to investment more than ?110 billion in distribution 
network infrastructure by 2050. Germany's new climate targets will accelerate the need for these investments. 
Birnbaum also emphasized the importance of sustainability targets. E.ON aims to be carbon-neutral by 2040 and also to 
improve biodiversity. E.ON, an energy-industry pacesetter, supports the United Nations Environment Program's "Decade 
for the Restoration of Ecosystems." As part of this partnership, E.ON is transforming an area the size of 100,000 
soccer fields under its high-voltage power lines in Europe into valuable biotopes. For this purpose, E.ON will invest a 
double-digit million sum and has committed to adopting ecological corridor management Group-wide by 2026. 
CFO Marc Spieker commented on E.ON's results for the first half of 2021. The energy company's operating business 
performed very well in the first six months of the year. Sales rose by ?2.4 billion year on year to ?33 billion. 
First-half adjusted EBIT in E.ON's core businesses of roughly ?2.4 billion was 26 percent above the prior-year figure 
of ?1.9 billion. Adjusted EBIT for the E.ON Group rose by 45 percent relative to 2020 reporting period, from ?2.2 
billion to ?3.2 billion. Adjusted net income of ?1.8 billion was 86 percent above the prior-year figure of ?950 
million. 
Cost savings in the U.K. sales business had a positive impact on second-quarter earnings. In addition, cooler weather 
relative to the prior year led to higher gas sales volume. Also, in the first six months of 2021 E.ON largely offset 
the Covid-19 pandemic's economic repercussions, which had a significant adverse impact on E.ON's operations in the 
first half of 2020. Repayment of purchases of residual power output rights resulting from the implementation of the 
public law agreement between the German federal government and the country's nuclear power plant operators was another 
factor. 
Earnings driven by operating improvements at Customer Solutions 
Adjusted EBIT at the Customer Solutions segment rose by 75 percent year on year to ?838 million. The primary reasons 
were cooler weather in the first half of 2021 and operating improvements in nearly all E.ON markets. Significant cost 
savings from the ongoing restructuring program in the United Kingdom were another key factor in the rise in adjusted 
EBIT. 
Energy Networks recorded adjusted EBIT of ?1.8 billion, 8 percent more than in the prior-year period. Adjusted EBIT in 
the regional markets of Germany, Sweden, and East-Central Europe/Turkey improved primarily due to the aforementioned 
positive weather effects. The network business in East-Central Europe/Turkey posted the highest increase (22 percent), 
which was mainly attributable to the inclusion of VSEH in Slovakia. 
The positive performance of adjusted EBIT in E.ON's core business was accompanied by higher adjusted EBIT at the 
Non-Core Business segment. The increase is mainly attributable to PreussenElektra and the implementation of the public 
law agreement between the German federal government and the country's nuclear power plant operators. In this context, 
previous payments to purchase residual power output rights will be refunded. This resulted in a positive EBIT effect of 
roughly ?0.5 billion in the first half of the year. 
Adjusted net income of ?1.8 billion surpassed the prior-year figure of ?950 million by 86 percent. The increase 
primarily reflects the strong growth in adjusted EBIT. 
Debt target will be achieved one year early 
Economic net debt of roughly ?40.9 billion at June 30, 2021, was largely unchanged from the previous quarter (March 31, 
20201: ?40.8 billion). Marc Spieker remained optimistic that E.ON will achieve its target debt factor of 4.8 to 5.2 
this year and thus earlier than originally planned. 
Outlook adjusted 
In view of the repayment of expenditures for residual power output rights, E.ON has increased its outlook for the 2021 
financial year. Leonhard Birnbaum said: "We now expect to achieve an adjusted EBIT target of ?4.4 to ?4.6 billion and 
adjusted net income of ?2.2 to ?2.4 billion for full-year 2021." Birnbaum affirmed the company's earnings plan through 
2023, including its dividend promise. 
This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group 
Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other 
factors could lead to material differences between the actual future results, financial situation, development or 
performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability 
whatsoever, to update these forward-looking statements or to align them to future events or developments. 
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2021-08-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      E.ON SE 
              Brüsseler Platz 1 
              45131 Essen 
              Germany 
Phone:        +49 (0)201-184 00 
E-mail:       info@eon.com 
Internet:     www.eon.com 
ISIN:         DE000ENAG999 
WKN:          ENAG99 
Indices:      DAX, EURO STOXX 50 
Listed:       Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; 
              Regulated Unofficial Market in Tradegate Exchange 
EQS News ID:  1225480 
 
End of News   DGAP News Service 
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1225480 2021-08-11

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August 11, 2021 01:00 ET (05:00 GMT)