Innogy: H1 results in line with expectations

(CercleFinance.com) - On Friday Innogy announced its H1 results that are broadly in line with expectations, while confirming full-year targets.


This morning the German electricity producer reported H1 2019 adjusted EBIT of around 1.3 billion euros, down 16% year-on-year.

Meanwhile, net profit contracted by over 26%, from 662 million euros in the first half of 2018 to 488 million euros in the first six months of 2019.

In its press release, innogy justified the decline in its results by the sale of its gas network business in the Czech Republic and its loss of customers in the UK, a market that is still considered to be difficult.


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