E.ON Reaffirms 2024 Financial Targets with €4.9 Billion EBITDA, Boosts Energy Transition Investments

E.ON Reaffirms 2024 Financial Targets with €4.9 Billion EBITDA, Boosts Energy Transition Investments

(IN BRIEF) E.ON reported strong financial performance in the first half of 2024, achieving an adjusted Group EBITDA of €4.9 billion and an adjusted net income of €1.8 billion, in line with its full-year targets. The company reaffirmed its guidance for 2024, expecting an adjusted Group EBITDA of €8.8 to €9.0 billion and net income of €2.8 to €3.0 billion. E.ON increased its investments in the energy transition to €2.9 billion, primarily in its Energy Networks business, and expanded its workforce by over 2,000 employees. CEO Leonhard Birnbaum called for improved regulatory frameworks to support necessary investments in Europe’s energy infrastructure.

(PRESS RELEASE) ESSEN, 14-Aug-2024 — /EuropaWire/ — E.ON, a leading European energy company, has reported its financial performance for the first half of 2024, showing strong results in line with its full-year targets. The company achieved an adjusted Group EBITDA of €4.9 billion and an adjusted net income of €1.8 billion, despite lower figures compared to the previous year, which benefited from positive one-off effects. E.ON reaffirmed its guidance for the fiscal year 2024, expecting an adjusted Group EBITDA of €8.8 to €9.0 billion and an adjusted net income of €2.8 to €3.0 billion.

E.ON significantly increased its investments in the energy transition, reaching €2.9 billion in the first half of 2024—up by €500 million compared to the same period last year. The majority of these investments, over €2.1 billion, were directed toward expanding and modernizing its Energy Networks business, crucial for supporting the growing demand for renewable energy and decarbonization efforts across Europe.

E.ON also highlighted its efforts in digitalization and workforce expansion, adding over 2,000 employees, primarily in the Energy Networks sector, to support its growth and investment strategy. CEO Leonhard Birnbaum emphasized the importance of private investment in Europe’s energy transition and called for regulatory frameworks that offer adequate returns to attract international investors.

Media Contact:

Isabel Reinhardt
Spokeswoman
Tel:+49 1736840253
isabel.reinhardt@eon.com

SOURCE: E.ON SE