Green Forum • 14 August, 2024 at 9:54 PM
The German group E.ON invested €2.9 billion in the energy transition during the first half of this year, an increase of over 20% or €500 million compared to the previous year.
The majority of these investments, approximately €2.1 billion, were directed towards the expansion, modernization, and digitalization of the network infrastructure.
Thus, E.ON increased its network investments by approximately €260 million compared to last year.
At the same time, E.ON's increased investments in the first half of the year were accompanied by the hiring of over 2,000 people, most of them in the Energy Networks sector.
The German company plans to invest €42 billion in the energy transition by 2028. The focus will be on the Energy Networks business, which plans to invest €34 billion.
The Group's adjusted EBITDA of approximately €4.9 billion for the first six months of 2024 was below the high level recorded in the previous year, which was characterized by positive conjunctural effects (first half of 2023: €5.7 billion).
Meanwhile, the Group's adjusted net income amounted to approximately €1.8 billion in the first six months of 2024, down from €2.3 billion in the same period last year. For the entire year 2024, adjusted net income is expected to range between €2.8 billion and €3 billion. This corresponds to earnings per share of between €1.07 and €1.15.