E.ON released a relatively reassuring set of half-year results. While the op. performance was still down yoy, the group’s damage control initiatives saw net income come in c.6% above the consensus. The ability to pass-through procurements costs in subsequent quarters will be key and is the focus of attention.
In this context, E.ON confirmed all the FY22 guidance. This fits with our current estimates. Our positive view is confirmed but caution is advised.
10 Aug 2022
H1 22: slightly reassuring but not out of the woods yet
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H1 22: slightly reassuring but not out of the woods yet
E.ON released a relatively reassuring set of half-year results. While the op. performance was still down yoy, the group’s damage control initiatives saw net income come in c.6% above the consensus. The ability to pass-through procurements costs in subsequent quarters will be key and is the focus of attention.
In this context, E.ON confirmed all the FY22 guidance. This fits with our current estimates. Our positive view is confirmed but caution is advised.