E.ON Unveils New Targets for 2026; Extends Dividend Policy --Update
23 November 2021 - 07:29AM
Dow Jones News
By Giulia Petroni
E.ON SE on Monday unveiled new earnings and growth targets for
its core business as well as extended its current dividend policy
until 2026.
The German energy company said that it expects adjusted earnings
before interest, taxes, depreciation and amortization to grow at a
compound annual rate of about 4% from 2021 to 2026 to reach around
7.8 billion euros ($8.80 billion) in 2026. Adjusted earnings per
share are expected to grow at a compound annual rate of 8% to 10%
in the same period to reach about EUR0.90 in 2026.
E.ON said its total investment volume in the 2022-26 period
should be of approximately EUR27 billion, of which around EUR22
billion will be destined toward energy networks and EUR5 billion
toward its customer solutions business.
Its core business includes energy networks, customer solutions
and corporate functions.
The company said that it will extend its current dividend policy
with an annual growth rate of up to 5% until 2026. For fiscal year
2021, it plans to propose a dividend of EUR0.49 per share, which
represents a 4% increase compared to the previous year.
E.ON also said it plans to optimize its portfolio through
divestments, expecting to generate proceeds of roughly EUR2
billion-EUR4 billion in the next five years.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 23, 2021 01:14 ET (06:14 GMT)
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