E.ON’s Q1 22 exhibited relatively weak results due to the inability to pass on higher energy costs fully to end-customers. But the group made a point of showing confidence in its ability to recover these losses in subsequent quarters. Our view is rather cautious, but management’s pitch is convincing and, at least for now, backed by fragile visibility amid regulatory uncertainties.
Full-year guidance is confirmed, but one thing is clear: no margin for error in the rest of 2022.
11 May 2022
Q1 22: trust is the key to the E.ON / market couple
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Q1 22: trust is the key to the E.ON / market couple
E.ON’s Q1 22 exhibited relatively weak results due to the inability to pass on higher energy costs fully to end-customers. But the group made a point of showing confidence in its ability to recover these losses in subsequent quarters. Our view is rather cautious, but management’s pitch is convincing and, at least for now, backed by fragile visibility amid regulatory uncertainties.
Full-year guidance is confirmed, but one thing is clear: no margin for error in the rest of 2022.