The results of E. Hon relating to 2015 were in line with expectations, and the energy company has also proposed to confirm the dividend at 0,50 euros per share. In particular, EBITDA decreased by 10% on an annual basis to 7,6 billion euros, while the underlying net profit, at 1,6 billion, remained in line with last year.
The write-downs of 8 billion euro last autumn, when the decision was taken to separate traditional generation activities (thermoelectric and nuclear in the subsidiary Uniper) on the one hand and renewables (remained in E.on) on the other, resulted in a net loss of 7 billion, informs a press release from the group. Despite the shrinking profits, operating cash flow of $6,1 billion was only slightly less than a year ago. Compared to the end of 2014, E.On has significantly reduced its net debt to 27,7 billion. At the annual shareholders' meeting, the Management Board and the Supervisory Board of E.ON will therefore propose a dividend of 2015 per share for the 0,50 financial year, corresponding to a payout ratio of around 60% of the underlying net profit.
Il CEO Johannes Teyssen said: “We achieved solid results in a very difficult market environment. Our numbers reflect the profound structural transformation that our sector is experiencing and that will continue this year as well. Our strategy of focusing E.ON and Uniper on different segments of the energy sector is the right response to this transformation. But the path ahead of us will be more demanding and longer than expected".
In light of the first months of 2016, they have seen new declines in energy prices and a further contraction in gas prices, as well as a persistent ruble weakness, E.ON expects 2016 EBITDA to be between 6 and 6,5 billion, while the underlying net profit between 1,2 and 1,6, XNUMX billion.
