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OFFON

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

E.ON SE

(EOAN)
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UK energy suppliers E.ON UK, Npower furlough staff due to coronavirus restrictions

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04/06/2020 | 06:13am EDT

British energy suppliers E.ON UK and Npower, both owned by Germany's E.ON, have furloughed around 4,000 workers amid a government lockdown which prevents staff such as smart meter readers and engineers from carrying out roles.

The government has ordered sweeping measures to fight the spread of the coronavirus, shutting down much of the economy and asking people to stay inside and avoid non-essential travel.

"We have (around) 3,000 colleagues currently on furlough arrangements from our total UK workforce of around 7,500 full-time employees," a spokesman for E.ON UK said in an email.

The affected staff include a range of field and metering technicians as well as customer operations and support staff across both residential and business operations, E.ON UK said.

E.ON UK said staff affected will receive 80% of their salary under a government-backed scheme and it would top up payments to ensure everybody received 100% of their total salary.

E.ON UK?s parent company, Germany?s E.ON, also owns the Npower energy supply brand in Britain following a far-reaching asset swap with RWE that included the break up of former Npower owner Innogy.

Around 1,000 of Npower?s 5,500 staff are also being furloughed.

Britain's second largest energy supplier OVO Energy said last week that it had also furloughed around a third of its workforce.

By Susanna Twidale


Stocks mentioned in the article
ChangeLast1st jan.
E.ON SE 0.93% 9.528 Delayed Quote.0.04%
INNOGY SE 0.00%End-of-day quote.-2.24%
RWE AG 1.59% 33.2 Delayed Quote.21.39%
THE NEW HOME COMPANY INC. 0.60% 5.06 Delayed Quote.8.58%
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Financials
Sales 2020 64 137 M 76 073 M 76 073 M
Net income 2020 1 195 M 1 418 M 1 418 M
Net Debt 2020 34 543 M 40 972 M 40 972 M
P/E ratio 2020 17,6x
Yield 2020 4,97%
Capitalization 24 843 M 29 407 M 29 466 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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Managers
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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E.ON SE0.04%29 407
NATIONAL GRID PLC0.07%43 403
SEMPRA ENERGY-11.63%38 720
ENGIE-21.08%32 464
RWE AG21.39%26 575
PPL CORPORATION-20.09%22 041