E.On's half-year results are slightly better than expected although the downward trend continues. Although revenues increased by 5% yoy to €57.3bn and were 9% above expectations, they were driven mainly by colder weather increasing gas sale volumes by 63% and electricity volumes by 4%. EBITDA decreased by 13% yoy to €4.27bn, in line with forecasts driven essentially by decreasing electricity prices, lower oil prices and a weaker rouble. Operating profit was also in line with expecta
12 Aug 2015
Colder weather improves revenues while market conditions push profits down
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Colder weather improves revenues while market conditions push profits down
E.ON SE (EOAN:WBO) | 0 0 1.3% | Mkt Cap: 17,847m
- Published:
12 Aug 2015 -
Author:
Juan Camilo Rodriguez -
Pages:
3
E.On's half-year results are slightly better than expected although the downward trend continues. Although revenues increased by 5% yoy to €57.3bn and were 9% above expectations, they were driven mainly by colder weather increasing gas sale volumes by 63% and electricity volumes by 4%. EBITDA decreased by 13% yoy to €4.27bn, in line with forecasts driven essentially by decreasing electricity prices, lower oil prices and a weaker rouble. Operating profit was also in line with expecta