DGAP-News: E.ON SE: E.ON shows strength and reliability in crisisSource: EQS
The virtual format ensures that E.ON's shareholders can, as usual, pose questions to the Management Board that are answered during the course of the meeting. Voting is online as well. Resolutions adopted in this way are fully valid.
innogy takeover concludes E.ON's corporate transformation
The crisis makes E.ON's high degree of stability and reliability particularly apparent, Teyssen said: "The COVID-19 crisis reaffirms my conviction that the new E.ON is on the right course. After the innogy takeover, about 80 percent of our earnings are generated in regulated or quasi-regulated businesses, particularly in the network business. The corporate transformation to create the new E.ON by focusing on two growth businesses-energy networks and customer solutions-began in 2014 and was now brought to a strategic conclusion. I'm confident that we'll leverage the resulting synergies that we announced. This will reduce our controllable costs significantly: by about
Strategic and operating targets for 2019 achieved
In the 2019 financial year, E.ON grew its sales to
Dividend to increase again
Teyssen reaffirmed the E.ON SE Management Board and Supervisory Board's dividend proposal: "I told you at our last Annual Shareholders Meeting that E.ON will become progressively stronger, more calculable, more predictable. That's precisely what the innogy takeover has done. And so we're standing by the dividend promise we made in conjunction with it. As announced last year, today we propose that our shareholders adopt a resolution to pay a dividend of
Business model resilient in corona pandemic
Teyssen emphasized that from today's perspective E.ON's business is resilient, including with regard to the corona pandemic. He added, however, that the pandemic has not left E.ON unaffected either; neither its future course nor the scope of its economic repercussions can be fully foreseen. E.ON is therefore monitoring the related risks very carefully and reviewing its assumptions on a regular basis. E.ON's statements about the remainder of the current financial year are cautious. The company nevertheless still anticipates that its adjusted EBIT and adjusted net income will be inside the forecast range. This factors in the measures already taken to combat COVID-19 but not adverse impacts from the remainder of the years that are today not apparent.
Good start to 2020 financial year
The first quarter of 2020 offered little evidence of the pandemic and its implications. Only the final three weeks of the first quarter were affected by the lockdown measures in the markets where E.ON operates. The E.ON Group's sales for the first three months of the year increased from
Climate protection remains most important challenge
Teyssen stressed that E.ON, despite the corona crisis, will continue to do everything it can to combat climate change and foster a technologically advanced, customer-centric, and climate-friendly energy system. E.ON has made its own climate targets more ambitious. Teyssen said: "The new E.ON leads by example. We're going to reduce our carbon footprint by 75 percent by 2030 and be carbon-neutral by 2040. In 2019 we partnered with our customers to avoid more than 100 million metric tons of carbon emissions. We're moving forward here too: as a partner in the transition toward a zero-emission society."
He reaffirmed E.ON's planned investments in critical infrastructure for the energy transition and reiterated the company's commitment to make available an additional
Reduce costs for customers, accelerate planning processes
Teyssen reiterated his call to make green electricity cheaper and thus to propel the energy transition and reduce costs for consumers. "
Over the medium term, the decline in these revenues should be replaced by the revenues from
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.
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