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E.ON Unveils New Targets for 2026; Extends Dividend Policy --Update

11/23/2021 | 01:14am

By Giulia Petroni

E.ON SE on Monday unveiled new earnings and growth targets for its core business as well as extended its current dividend policy until 2026.

The German energy company said that it expects adjusted earnings before interest, taxes, depreciation and amortization to grow at a compound annual rate of about 4% from 2021 to 2026 to reach around 7.8 billion euros ($8.80 billion) in 2026. Adjusted earnings per share are expected to grow at a compound annual rate of 8% to 10% in the same period to reach about EUR0.90 in 2026.

E.ON said its total investment volume in the 2022-26 period should be of approximately EUR27 billion, of which around EUR22 billion will be destined toward energy networks and EUR5 billion toward its customer solutions business.

Its core business includes energy networks, customer solutions and corporate functions.

The company said that it will extend its current dividend policy with an annual growth rate of up to 5% until 2026. For fiscal year 2021, it plans to propose a dividend of EUR0.49 per share, which represents a 4% increase compared to the previous year.

E.ON also said it plans to optimize its portfolio through divestments, expecting to generate proceeds of roughly EUR2 billion-EUR4 billion in the next five years.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

11-23-21 0114ET

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