E.ON : Encouraging medium-term outlook
>FY 2020 results ahead of forecasts - Yesterday E.ON released FY 2020 results that beat forecasts. Adjusted EBITDA was in line with expectations at € 6,905m. Adjusted EBIT, on the other hand, beat our estimates and the consensus at € 3,776m (-7% y-o-y) vs € 3,735m and € 3,738m, respectively. The details by division are shown on page 2. Adjusted net income also came in ahead of forecasts at € 1,638m (+4% y-o-y) vs € 1,574m expected. Where the repercussions of COVID-19...E.ON is an investor-owned energy company. The Generation global unit consists of all Co.'s existing (fossil and nuclear) generation assets in Europe. The Renewables unit is engaged in managing Co.'s carbonsourcing and renewables businesses. The Global Commodities unit buys and sells electricity, natural gas, liquefied natural gas, oil, coal, freight, biomass, and carbon allowances. The Exploration & Production unit is a active in the focus regions of the North Sea (U.K., Norway), Russia and North Africa. The New Build & Technology unit include Co.'s project-management and engineering operations to support the construction of new power plants and the operation of existing plants.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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