E.ON: first-half profit slightly beats market expectations
(CercleFinance.com) - E.
ON on Wednesday reported earnings that slightly beat the market's expectations, despite having to face fierce competition at its customer unit.
Adjusted earnings before interest and taxes (EBIT) rose by 10% to 1.9 billion euros in the first six months of the year, Germany's largest utility group said.
Adjusted net income grew by 19% to 1.05 billion euros, above the consensus.
However, according to analysts, the report didn't bring any surprises, which in a way can be considered as "good news."
E.ON - which is in the midst of taking over its German rival innogy - said it still expects full-year adjusted EBIT of between 2.8 billion euros and 3 billion euros, with full-year adjusted net income of between 1.3 billion euros and 1.5 billion euros.
E.ON shares are currently trading 1.4% lower, underperforming Germany's benchmark index, the DAX, which is down 0.1%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
ON on Wednesday reported earnings that slightly beat the market's expectations, despite having to face fierce competition at its customer unit.
Adjusted earnings before interest and taxes (EBIT) rose by 10% to 1.9 billion euros in the first six months of the year, Germany's largest utility group said.
Adjusted net income grew by 19% to 1.05 billion euros, above the consensus.
However, according to analysts, the report didn't bring any surprises, which in a way can be considered as "good news."
E.ON - which is in the midst of taking over its German rival innogy - said it still expects full-year adjusted EBIT of between 2.8 billion euros and 3 billion euros, with full-year adjusted net income of between 1.3 billion euros and 1.5 billion euros.
E.ON shares are currently trading 1.4% lower, underperforming Germany's benchmark index, the DAX, which is down 0.1%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.