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E.ON posted better-than-expected Q2 earnings

Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
E.ON posted better-than-expected Q2 earnings

E.ON SE, one of the largest European electric utility companies, posted its quarterly earnings earlier today, exceeding the expectations.

The Q2 net profit figures came in at €596 million, compared to last year’s loss of €2 million. Simultaneously, the adjusted net income grew to €262 million from a previous €235 million. 

The company’s revenue almost doubled from €6.72 billion to €12.84 billion. According to E.ON, the increases are due to its takeover of Innogy SE – a German utility company.

Despite the good results, it cut its outlook for the rest of the year. The net income is expected to reach a high of €1.7 billion from a previous top of €1.9 billion. The earnings before interest taxes (EBIT) are seen at €3.8 billion from a prior forecast of €4.1 billion.

The market didn’t budge over the good results, and currently, E.ON stock price is trading 0.56% lower. 

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This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.