E.ON : More visibility for a stock that remains under pressure
>H1 2022 results in line with expectations - E.ON published yesterday H1 2022 results broadly in line with forecasts. EBITDA was € 4,061m (i.e. a 15% y-o-y decline), in line with our forecast of € 4,010m (vs the consensus at € 3,955m). This decline is mainly due to the non-core business which came in at € 480m vs € 1,040m in H1 2021. See details by division on page 2. EBIT came in at € 2,677m, -15% y-o-y, vs € 2,610m forecast. Adjusted net profit was € 1,413m (-20%...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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