Slide 1: 9M 2024 results
it‘s on us 9M 2024 results 14 November 2024
Slide 2: Solid 9M results and guidance fully confirmed
Solid 9M results and guidance Key financials fully confirmed €bn 7.8 EPS1 6.7 € 1.13 € 0.84 • 9M results with continuous underlying growth supporting FY guidance expectations 2.9 2.2 • Investment-backed growth and operational delivery on track: year-over- year reported earnings decrease driven by no
Slide 3: Underlying growth shows operational performance on-track
Underlying growth shows operational performance on-track EBITDA1 Key Drivers €m Energy Networks • Organic RAB growth (+) 9M 2023 7,789 • Germany: new regulatory period (+/-), 2023 redispatch cost benefit (-), lower volumes (-), higher upstream network costs (-) Energy Networks -54 • Sweden: new regu
Slide 4: Adjusted Net Income following EBITDA development
Adjusted Net Income following EBITDA development ANI1 €m 0.84 EPS1 Tax rate at ~25% 6,687 (€ per share) 4,366 -2,321 3,525 -841 2,205 -894 -426 Group EBITDA1 D&A1 Group EBIT1 Economic Profit Income taxes1 Minorities1 Adjusted interest result1 before Taxes1 Net Income1 E.ON 9M 2024 results 1. Adjuste
Slide 5: Solid balance sheet development backing our growth ambitions
Solid balance sheet development backing our growth ambitions Economic Net Debt – quarterly comparison €bn -6.9 -6.9 -4.4 Asset Retirement Obligations (ARO) Investment spend well on track: -4.7 Pension provisions 9M 2024 capex fill rate at Net financial position ~65%, above 9M 2023 +2.3 -29.5 -29.5 E
Slide 6: Guidance fully confirmed
Guidance fully confirmed €bn FY 20231 FY 2024 FY 2028 EBITDA2 9.370 8.8-9.0 >11 Energy Networks 6.640 6.7-6.9 ~8.3 Energy Infrastructure Solutions 0.525 0.55-0.65 ~0.95 Energy Retail 2.282 1.6-1.8 ~2.0 • Solid 9M group results without Corporate Functions & Other -0.077 ~-0.2 ~-0.1 prior year one-off
Slide 7: Financial appendix
financial appendix
Slide 8: Key performance drivers for 2024 (year-over-year view)
Key performance drivers for 2024 (year-over-year view) EBITDA1 Energy Networks Energy Infrastructure Solutions Energy Retail All All All + Organic RAB growth + Organic investment-driven growth - One-off effects in 2023 Germany + Higher UK asset availability - Milder temperatures / lower volumes +/-
Slide 9: Financial Overview
Financial Overview €m 9M 2023 9M 2024 %YoY Sales 69,243 56,284 -19 EBITDA1 7,789 6,687 -14 EBIT1 5,662 4,366 -23 Adjusted Net Income1 2,941 2,205 -25 OCFbIT 5,054 4,195 -17 Investments 3,928 4,706 +20 Economic Net Debt (September -37,691 -41,115 -9 30,2024 and December 31,2023)2 1. Adjusted for non-
Slide 10: Cash conversion rate of 73% in 9M 2024 following typical seasonal pattern
Cash conversion rate of 73% in 9M 2024 following typical seasonal pattern CCR1 €bn 73% CCR 6.7 -1.6 4.2 -0.9 -0.7 2.6 -0.8 -4.7 -2.1 EBITDA2 Cash Change in WC OCFbIT Interest Tax payments OCF Investments FCF adjustments3 payments E.ON 9M 2024 results 1. Cash Conversion Rate (CCR): OCFbIT excl. OCFbI
Slide 11: Economic Net Debt development year-to-date
Economic Net Debt development year-to-date Economic Net Debt €bn -6.9 -7.4 Full Year Debt factor4 target of -4.7 ≤ 5.0x Asset Retirement Obligations (ARO) -5.0 Pension provisions Net financial position -25.3 +2.6 -29.5 Securing a strong BBB/Baa rating -37.7 +0.1 +0.2 -4.6 +0.5 -1.7 -41.1 -0.6 END OC
Slide 12: Energy Networks
Energy Networks EBITDA1 Drivers €m All -1% + Organic RAB growth 4,841 4,787 Germany Sweden - Absence of 2023 redispatch cost benefit and Covid + Improved regulatory parameters recoveries - Absence of 2023 network loss recoveries +/- New regulatory period - Lower wheeling volumes (pass-through) Germa
Slide 13: Energy Infrastructure Solutions
Energy Infrastructure Solutions EBITDA1 €m Drivers -15% 405 346 EBITDA + Organic growth from capex projects + Higher UK asset availability - One-off effects in H1 2023 - Lower volumes in H1 due to milder temperatures 9M 2023 9M 2024 Investments €m +48% €m EIS 664 9M 2023 9M 2024 %YoY EBITDA1 405 346
Slide 14: Energy Retail
Energy Retail EBITDA1 €m Drivers -35% All 2,633 - One-off effects in 2023 - Milder temperatures/ lower volumes - Customer value optimization 1,714 + Lower risk provisions (lower wholesale prices/ unchanged payment behavior) Germany UK UK Other + B2B: Improved contributions - Change in consolidation
Slide 15: Energy Retail: Customer accounts B2B & B2C
Energy Retail: Customer accounts B2B & B2C Customer accounts Thereof: electricity customers m1 m1 36.8 36.7 47.3 47.3 6.7 6.9 10.7 9.6 9.9 2.1 10.7 2.1 ~0% 5.4 5.3 10.7 10.7 11.9 11.7 FY 2023 9M 2024 3.9 4.0 ~0% 8.9 8.6 Thereof: gas customers m1 10.5 10.6 14.2 14.1 Germany 2.9 3.0 Germany 1.8 1.9 FY
Slide 16: Adjusted Net Income
Adjusted Net Income1 €m 9M 2023 9M 2024 %YoY EBITDA 7,789 6,687 -14 Depreciation/amortization -2,127 -2,321 -9 EBIT 5,662 4,366 -23 Economic interest expense, net -839 -841 ~0 EBT 4,823 3,525 -27 Income Taxes on EBT -1,205 -894 +26 % of EBT -25% -25% - Non-controlling interests -677 -426 +37 Adjuste
Slide 17: Cash-effective investments
Cash-effective investments1 €m 9M 2023 9M 2024 %YoY Energy Networks 3,110 3,565 +15 Energy Infrastructure Solutions 448 664 +48 Energy Retail 277 390 +41 Corporate Functions 93 86 -8 Consolidation 0 1 - Investments 3,928 4,706 +20 E.ON 9M 2024 results 1. Prior-year segmental figures with minor resta
Slide 18: Economic Net Debt
Economic Net Debt €m 31 Dec 2023 30 Sep 2024 Liquid funds 7,412 6,368 Non-current securities 1,177 942 Financial liabilities1 -33,943 -36,962 Adjusted FX hedging 11 180 Net financial position -25,343 -29,472 Provisions for pensions -4,985 -4,737 Asset retirement obligations2 -7,363 -6,906 Economic N
Slide 19: Economic interest expense (net)
Economic interest expense (net) 1 €m 9M 2023 9M 2024 %YoY Interest from financial -737 -724 +2 assets/liabilities Interest cost from provisions for -72 -92 +28 pensions and similar provisions Accretion of provisions for retirement obligations and -44 -36 +18 similar provisions Construction period in
Slide 20: Reconciliation of EBITDA to IFRS Net Income
Reconciliation of EBITDA to IFRS Net Income €m 9M 2023 9M 2024 %YoY EBITDA1 7,789 6,687 -14 Depreciation/Amortization/Impairments1 -2,127 -2,321 -9 EBIT1 5,662 4,366 -23 Interest result -337 -757 -125 Net book gains -7 -18 -157 Restructuring -26 -6 +77 Effects from derivative financial instruments -
Slide 21: Sound funding strategy enabling sustainable green growth path
Sound funding strategy enabling sustainable green growth path Volumes Tenors Green bonds Currencies Diversification €3.5-5bn p.a. 3-30 years >50% p.a. EUR preferred More instrument variety • Bond refinancing • Optimize maturity • Majority of funding • Predominantly euro- • Bond issuances • Capex – m
Slide 22: Capital Market Debt maturities
Capital Market Debt maturities Capital Market Debt maturities as of end 9M 20241 Nominal Value (€bn) Coupon (%) 22.3 1.3 1.0 0.9 0.9 0.8 0.8 0.8 0.6 0.6 0.5 0.5 0.9% 1.0% 1.5% 0.1% 1.6% 0.3% 0.4% 1.3% 2.4% 2.9% 0.1% Q1 2025 Q2 2025 Q4 2025 Q1 2026 Q2 2026 Q4 2026 Q3 2027 Q4 2027 Q1 2028 Q3 2028 Q4 2
Slide 23: Financial calendar and important links
Financial calendar and important links Financial calendar February 26, 2025 May 14, 2025 May 15, 2025 August 13, 2025 Full Year Financial Report Quarterly Statement Annual General Meeting Half Year Financial Report 2024 January – March 2025 January – June 2025 • Presentations • Facts & Figures 2023
Slide 24: E.ON Investor Relations team
E.ON Investor Relations team Iris Eveleigh Milagros D’Elia Andreas Thielen Björn Siggemann Head of Investor Relations Manager Investor Relations Manager Investor Relations Manager Investor Relations iris.eveleigh@eon.com milagros.d‘elia@eon.com andreas.thielen@eon.com bjoern.siggemann@eon.com +49 17
Slide 25: Disclaimer
Disclaimer This presentation contains information relating to E.ON Group (‘E.ON’) that must not be relied upon for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose. By accessing this document, you agre
Slide 26: it's on us
it’s onus @-on