E.ON exceeds 2023 profit forecast as earnings rise 17%

DPA
·1 min read
The headquarters of the energy group E.on is illuminated by the morning light. E.ON exceeds 2023 profit forecast as earnings rise 17%. Rolf Vennenbernd/dpa
The headquarters of the energy group E.on is illuminated by the morning light. E.ON exceeds 2023 profit forecast as earnings rise 17%. Rolf Vennenbernd/dpa

Germany-based energy supplier E.ON said on Thursday it exceeded its profit forecasts for 2023.

According to preliminary figures, earnings before interest, taxes, depreciation and amortisation (EBITDA) adjusted for special effects rose by almost 17% to €9.4 billion ($10.21 billion) in 2023.

Adjusted group EBITDA had been forecast at around €8.6 billion.

Earnings in the Energy Networks segment exceeded expectations in the fourth quarter, "primarily due to operating effects in almost all countries," the company said after the close of trading.

The share price rose by just under one and a half percent in post-market trading.

Adjusted net income totalled €3.1 billion, compared to €2.7 billion in the previous year. Further details will be provided on March 13, when the annual report is presented.