(BRIEF) E. ON, one of the leading players in the European electricity sector, plans to increase its investments from €33 billion to €42 billion for the period 2024-2028, focusing on electricity grids and infrastructure. expectations in 2023, with the Group’s adjusted EBITDA reaching €9. 4 billion and the Group’s adjusted net income source reaching €3. 1 billion. CEO Leonhard Birnbaum attributes this good fortune to its strategic investments and consistent national performance. Around 3,000 new workers have been hired and an additional dividend of €0. 53 is proposed to be generated according to the constant percentage for 2023. Looking ahead, E. ON intends to continue its expansion trajectory, investing in grid expansion and renewable energy solutions to shape the future of the European energy landscape.
(PRESS RELEASE) ESSEN, March 13, 2024 — /EuropaWire/ — E. ON (ETR: EOAN), one of Europe’s largest electricity grid and infrastructure operators, has announced an ambitious plan to increase its planned investments across Europe from €33. billion to €42 billion for the years 2024 to 2028. These investments will basically go towards power grids and infrastructure solutions, with around 70% of the investments allocated to Germany.
The company’s fortunate expansion trajectory was reaffirmed with its monetary functionality in 2023, where it exceeded forecasts. The group’s adjusted EBITDA reached €9. 4 billion, beating expectations, while the group’s adjusted net revenue source amounted to €3. 1 billion. CEO Leonhard Birnbaum attributes the strong result to both the company’s operational functionality and the smooth running of its investment and expansion strategy.
CEO Leonhard Birnbaum said today at the annual press conference: “In the 2023 monetary year, we again faced challenging circumstances. And we achieved very clever effects that exceeded our expectations. For this, we owe a big thank you to our employees. This result is a testament to our operational functionality and the good fortune of our investment and expansion strategy. It also shows that we are reaping the benefits of our continued strategic focus on power grids, sustainable electrical infrastructure and visitor solutions. is one of the leading corporations for the energy transition in Europe. “
Birnbaum spoke clearly about E. ‘s long-term business prospects. ON: “What Europe wants now is a smart energy infrastructure for sustainable, secure and affordable energy. This is precisely what E. ON offers, and we will continue to do so. This means that we will continue to make large investments to meet the growing demand for electrical infrastructure. But it also means we’re leading the way where others doubt. Playing a pioneering role in the energy transition is E’s strength. ONE.
In line with its growth, E. ON has hired around 3,000 additional employees. Looking ahead, the company expects the Group’s adjusted EBITDA for fiscal 2024 to be between €8. 8 billion and €9 billion, and the Group’s adjusted profit is expected to be between €2. 8 billion. and 3,000 million euros.
CFO Marc Spieker said: “E. ON looks at a strong 2023 monetary year, in which we made progress in almost all European markets. The outlook for the coming years is also very promising. Our networking business is an expanding business that is attracting the attention of policymakers, the public, and investors. Our electricity grids are dedicated to the energy transition and we have once again shown that we can scale them up effectively and cost-effectively. Given Europe’s energy and weather targets, we expect our business to provide sustainable responses. for consumers and electricity infrastructure to generate a significant expansion of profits in the medium term.
The company’s strategic focus on power grids and sustainable infrastructure has fueled its growth. Investments in network expansion, modernization and digitalization have contributed greatly to this growth. The Energy Networks segment saw its adjusted EBITDA grow to €1. 2 billion. year-on-year to €6. 6 billion. Similarly, the Customer Solutions segment saw an increase in adjusted EBITDA from €1. 1 billion to €2. 8 billion.
Looking ahead, E. ON intends to continue its expansion trajectory, with plans for major investments in grid infrastructure and energy solutions. The company aims to install more than a gigawatt of new renewable energy capacity by 2028, using solar power.
ON’s commitment to its shareholders is evident with the proposed dividend of €0. 53 per percentage for 2023. This proposal aligns with the company’s goal of increasing the dividend to 5% per year until 2028. demonstrating its commitment to creating value for its shareholders.
This press release would possibly involve forward-looking statements based on existing assumptions and forecasts made through the control of the E. ON Group and other data already held by E. ON. Various risks, uncertainties and other factors, known and unknown, may also simply cause the Company’s actual long-term results, monetary condition, progression or functionality to differ materially from the estimates set forth herein. E. ON SE does not intend, and assumes no responsibility, to update these forward-looking statements or align them with long-term results. Execute chances or progressions.
Media Contact:
SOURCE: E. ON SE
EuropaWire (EW) is, in fact, the first pan-European press release and press release distribution service for Europe and the European Union, which aims to consolidate Europe’s global voice of news agencies and the media. Submission forms, flexible PR pricing and budgets, granular targeting, unlimited maximum success across countries, markets, verticals, sectors, audiences, languages, etc. , translation and localization for greater local PR impact, detailed distribution, reporting, metrics. and insights, adding measured PR success, reads, interactions, impact, etc. , with no limits on words, images, and multimedia to accompany your post, among other things. Your press releases will be among the largest press releases and top vital companies, brands and establishments in Europe.
HOW DO I GET STARTED?