E.ON : Good H1 + magnitude of earnings revision in line with expectations
>Results slightly above expectations - E.on this morning posted interim earnings in line with expectations. The group posted a stable EBITDA of € 3,656m slightly above expectations at € 3,545m/€ 3,611m (ODDO BHF/ consensus). EBIT recorded a drop of 7% to € 2,162m but still above expectation at € 2,109m € 2140m (ODDO BHF/consensus). All told, adjusted net income also came in slightly above expectations at € 933m (-11%) compared with € 872m/€ 905m expected. No surprise...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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