E.ON Reports Steady Earnings and Boost in Investments for Q1 2024

E.ON SE announced its first-quarter earnings for 2024, showing consistent adjusted EBITDA and net income figures compared to the previous year, while significantly increasing its investments. The company reported an adjusted Group EBITDA of €2.7 billion and adjusted net income of approximately €1 billion, margins that mirror those of the first quarter of 2023. Notably, E.ON's investments surged by about 25 percent to €1.3 billion, focusing mainly on enhancing network infrastructure to support Europe's energy transition.

Despite stable earnings in the Energy Networks and Energy Retail segments, the Energy Infrastructure Solutions (EIS) segment experienced a slight decrease in earnings due to the absence of prior year’s one-off effects. Regardless, E.ON remains optimistic about its growth prospects, particularly in regulated infrastructure investments, projecting a full-year adjusted EBITDA between €8.8 and €9.0 billion and adjusted net income ranging from €2.8 to €3.0 billion for 2024.

Chief Financial Officer Marc Spieker highlighted the substantial increase in investments as a pivotal part of E.ON's strategy to facilitate a sustainable energy future in Europe. The company plans to allocate €42 billion towards enhancing energy infrastructure across the continent by 2028, aiming for long-term growth in its regulated operations and the decarbonization of cities and industries. Spieker reaffirms the company’s commitment to its financial targets and strategic operational expansion.