Heavy thud for the title E.On after the announcement of farewell to the spin-off plan of nuclear activities in Germany. At 11,15 am E.On suffers a collapse of 6,5%.
The German energy giant has communicated its intention to keep the nuclear business within the new E.On which will include activities on the distribution network, production from renewables and customer management and which will start, as confirmed by the CEO Johannes Teyssen, next January XNUMXst. In the second company, Uniper, the activities of extraction from fossil sources will instead be present.
In a statement E.ON he explained that he no longer considers nuclear power a strategic asset, also by virtue of the German government's decision to close the nuclear chapter after the Fukushima disaster by amending the Nuclear Energy Law. The government now seems willing to pass on the cost of their disposal to the owners of the nuclear plants (and the German group owns three). E.ON expects to record writedowns in the current quarter in the size of billions of euros, in a range between 5 and 10 billion. The write-downs will lead E.ON to post a negative net profit for the year 2015. Expectations are confirmed for the adjusted net profit (excluding the extraordinary items represented by the write-downs) at 1,4-1,8 billion euros and 7-7,6 billion ebitda.
