E.ON Reports Strong 2025 Financial Results and Expands Investment Program to €48 Billion Through 2030

E.ON Reports Strong 2025 Financial Results and Expands Investment Program to €48 Billion Through 2030

(IN BRIEF) E.ON reported strong financial results for fiscal year 2025, achieving adjusted Group EBITDA of €9.8 billion and adjusted Group net income of €3.0 billion while increasing total investments to €8.5 billion, primarily focused on expanding and modernizing energy networks. Growth was driven mainly by the Energy Networks division, which benefited from increased investments and the continued expansion of renewable energy connections, while Energy Retail and Energy Infrastructure Solutions delivered stable contributions. The company expects relatively stable earnings in 2026 and has expanded its long-term investment program to €48 billion through 2030, with approximately €40 billion allocated to network infrastructure. E.ON projects adjusted Group EBITDA of about €13 billion and adjusted Group net income of approximately €3.8 billion by 2030, reflecting rising demand for energy infrastructure driven by renewable integration, electrification, and digitalization across Europe.

(PRESS RELEASE) ESSEN, 25-Feb-2026 — /EuropaWire/ — E.ON reported strong financial and operational performance for fiscal year 2025, meeting its growth targets while significantly expanding investments in Europe’s energy infrastructure. The company recorded adjusted Group EBITDA of €9.8 billion and adjusted Group net income of €3.0 billion, supported primarily by the continued expansion and modernization of its energy networks. E.ON increased total investments to €8.5 billion during the year, including €7.0 billion allocated to its Energy Networks division, reinforcing its role in advancing Europe’s energy transition.

Chief Executive Officer Leonhard Birnbaum emphasized that the company’s progress reflects accelerated development of network infrastructure, digitalization of the energy system, and the rollout of new customer-focused solutions. The company’s stable business model and consistent execution enabled it to perform strongly despite a challenging and volatile market environment.

Adjusted Group EBITDA reached the upper end of the company’s forecast range of €9.6 billion to €9.8 billion and represented a 9 percent increase compared with €9.0 billion in 2024. Growth was driven primarily by strong performance in Energy Networks, supported by increased investments and continued operating improvements. Adjusted Group net income rose to €3.0 billion from €2.9 billion in the previous year, corresponding to adjusted earnings per share of €1.16 compared with €1.09 in 2024.

The Management Board and Supervisory Board intend to propose a dividend of €0.57 per share for fiscal year 2025, representing a 4 percent increase over the previous year. Chief Financial Officer Nadia Jakobi highlighted that the company’s financial strength provides the foundation for continued investment in energy infrastructure, particularly in electricity networks where the energy transition is taking shape.

Energy Networks Expansion

E.ON’s Energy Networks business delivered adjusted EBITDA of €7.7 billion in 2025, an increase of 12 percent compared with €6.9 billion in 2024. Investments in this segment rose by 20 percent to €7.0 billion, primarily directed toward expanding grid connections and upgrading infrastructure. Earnings were also supported by slightly higher distribution volumes in Germany and South Eastern Europe as well as regulatory adjustments, including compensation for network losses in Hungary.

The company’s networks continue to support the rapid growth of renewable energy. Approximately 70 percent of Germany’s onshore wind capacity and nearly half of its solar generation capacity are connected to E.ON’s grids. During 2025, E.ON connected its two-millionth renewable energy installation in Germany, bringing total connected capacity to around 110 gigawatts. At the same time, digital grid technologies have been deployed at an accelerated pace, contributing to improved system resilience and efficiency. The rollout of smart meters in Germany reached approximately 30 percent by the end of the year, exceeding the statutory requirement of 20 percent.

Energy Retail Developments

E.ON’s Energy Retail division generated adjusted EBITDA of €1.7 billion in 2025, slightly below the €1.8 billion recorded in the previous year but within the company’s guidance range. The decline was largely due to portfolio changes in the United Kingdom, where a higher share of customers adopted fixed-price contracts. In Germany, earnings improved modestly, supported by pricing adjustments within the product portfolio. Investments in this division totaled €480 million and focused on expanding charging infrastructure, advancing digitalization initiatives, and developing new customer-oriented energy solutions.

E.ON continued to expand its offering of flexible energy solutions. In cooperation with the BMW Group, the company introduced Germany’s first commercial bidirectional charging solution connected to the public grid, enabling electric vehicles to serve as mobile energy storage units. The company also launched its Home Comfort product in Germany, a modular solution integrating heat pumps, solar systems, battery storage, and charging infrastructure to optimize energy consumption through automated load management.

Energy Infrastructure Solutions Growth

The Energy Infrastructure Solutions segment increased adjusted EBITDA by 5 percent to approximately €590 million in 2025, compared with €560 million the previous year. Improved asset performance in Scandinavia and the United Kingdom, higher heating demand in Germany, and continued progress in smart meter deployment in the United Kingdom supported earnings growth. Investments remained at a high level of around €900 million.

Several new projects highlight the division’s role in supporting decarbonization. The United Heat initiative aims to transform district heating systems in Görlitz, Germany, and Zgorzelec, Poland, with the potential to reduce annual carbon emissions by up to 50,000 metric tons. E.ON is also developing decentralized energy infrastructure for data centers in partnership with CyrusOne, addressing rising electricity demand associated with artificial intelligence and digital infrastructure while reducing pressure on the power grid.

Outlook for 2026

For fiscal year 2026, E.ON expects stable earnings after adjusting for temporary regulatory effects in the Energy Networks division. Adjusted Group EBITDA is projected to range between €9.4 billion and €9.6 billion, while adjusted Group net income is expected to reach between €2.7 billion and €2.9 billion. Adjusted earnings per share are forecast to be between €1.03 and €1.11.

Within the individual business segments, Energy Networks is expected to deliver adjusted EBITDA of €7.2 billion to €7.4 billion. Energy Retail earnings are projected at €1.6 billion to €1.8 billion, broadly consistent with 2025 levels, while Energy Infrastructure Solutions is expected to generate adjusted EBITDA between €0.60 billion and €0.75 billion as new assets begin operations.

Investment Plan Through 2030

E.ON has expanded its long-term investment plan, increasing its projected capital expenditure to approximately €48 billion for the period from 2026 to 2030 compared with €43 billion previously planned for 2024 to 2028. The company expects these investments to drive further earnings growth, with adjusted Group EBITDA projected to reach about €13 billion and adjusted Group net income around €3.8 billion by 2030. Adjusted earnings per share are expected to rise to approximately €1.45.

The investment program reflects increasing demand for energy infrastructure driven by renewable energy expansion, electrification, battery storage deployment, and growing data center capacity. Maintaining reliable and resilient energy networks is becoming more challenging as energy systems become more decentralized and complex. The company’s investment plans assume a stable and supportive regulatory environment, particularly in Germany.

E.ON will continue to prioritize expansion, modernization, and digitalization of its distribution networks, allocating approximately €40 billion of planned investments to Energy Networks. Around €2.5 billion is earmarked for Energy Retail, focusing on digital platforms, electric mobility, and flexible energy products, while roughly €5 billion will be directed to Energy Infrastructure Solutions, including district heating, industrial decarbonization projects, local energy systems, and battery storage.

The company expects disciplined capital allocation and a strong balance sheet to support its growth strategy and maintain its dividend policy, which targets annual dividend growth of up to 5 percent.

Media Contact:

Isabel Reinhardt
Spokeswoman
isabel.reinhardt@eon.com
tel:+49 1736840253
https://www.linkedin.com/in/isabel-reinhardt-86499a170/

SOURCE: E.ON SE