Slide 1: 9M 2022 results
#StandWithUkraine 9M 2022 results
Slide 2: Our business proves to be resilient during these unprecedented times
Our business proves to be resilient during these E.ON 9M 2022 results unprecedented times On track despite energy crisis 9M key financials Strong BBB/Baa rating target Solid operational delivery with recovery in all core Core EBITDA1 outlook 2022 adjusted Debt factor target2 markets on track €6.7-6.
Slide 3: Core business recovered as expected
Core business recovered as expected E.ON 9M 2022 results EBITDA1 Key drivers €m Organic RAB growth Milder weather 9M 2021 6,277 Energy Germany: Realization of synergies, Networks increasing efficiencies Energy Sweden, CEE & Turkey: Increased costs for +199 Networks network losses /tariff adjustments
Slide 4: Financial position remains strong driven by high operational cash flow in Q3
Financial position remains strong driven by high E.ON 9M 2022 results operational cash flow in Q3 Economic net debt – quarterly comparison €bn -7.9 -7.8 Asset Retirement Obligations (ARO) -2.3 -2.4 Pension provisions Net financial position Debt factor target3 4.8x -5.2x +4.1 -23.6 +0.9 -27.2 FY 2022
Slide 5: Further developments in retail markets address security of supply and customer affordability
Further developments in retail markets address security E.ON 9M 2022 results of supply and customer affordability Approved since H1 reporting Update on support schemes in retail markets Proposed since H1 reporting Germany UK Netherlands Demand reduction targets Power 5% / 10% (peak/off-peak) No offi
Slide 6: Payment behavior largely unchanged
Payment behavior largely unchanged E.ON 9M 2022 results Indicators for relevant markets ‘Bad debt’ allowances2 €bn 1.3 Government Change of 1.2 intervention payment behavior1 GER UK 9M 2021 9M 2022 NL • ‘Bad debt’ allowances2 mainly driven by higher revenues Other (incl. CEE) ‘Bad debt’ additions to
Slide 7: High confidence on FY22 Group guidance
High confidence on FY22 Group guidance E.ON 9M 2022 results Group guidance Group EBITDA1: €7.6-7.8bn High confidence on Group guidance Adj. Net Income1: €2.3-2.5bn Capex2: ~€5.3bn Operationally on track Energy Networks EBITDA1: €5.3-5.5bn Customer Solutions EBITDA1: €1.5-1.7bn Impact of higher costs
Slide 8: Our mid-term delivery plan until 2026
Our mid-term delivery plan until 2026 E.ON 9M 2022 results Dividend per share (DPS) growth of up to 5% p.a. until 2026 EBITDA1,2 2026: ~€7.8bn / 4-5% CAGR3 2022-2030: Average 5-year rolling4 EPS1,2 2026: ~€0.90 / 7-9% CAGR3 EPS CAGR at least 5% Total capex 2022-2026: ~€27bn Capital structure with st
Slide 9: Financial Update
E.ON 9M 2022 results Financial Update 9
Slide 10: Guidance overview
Guidance overview E.ON 9M 2022 results Change vs. June 2022 2022-2030 €bn Actual FY 2021 FY 20224 FY 2026 CAGR 21-26 (5yr rolling)7 Core EBITDA1 6.272 6.7-6.9 (6.9-7.1) ~7.8 4-5% - Energy Networks 4.988 5.3-5.5 (5.5-5.7) 6.0-6.2 ~4% - Customer Solutions 1.492 1.5-1.7 1.9-2.2 5-8% - Energy Retail 1.0
Slide 11: Segment outlook 2022 remaining year
Segment outlook 2022 remaining year E.ON 9M 2022 results EBITDA1 key drivers 2022 All: Energy Retail: PreussenElektra: Organic RAB growth Germany: Tariff adjustments, Higher realized market prices operational improvements, synergies Germany: Customer Solutions UK: Restructuring benefits, market Ener
Slide 12: Energy Networks: Network losses
Energy Networks: Network losses E.ON 9M 2022 results Estimated 2022 net impact from Regulatory accepted Impact from Recovery network losses Countries procurement approach & network losses on mechanism for Price view as of H1 Price view as of 9M tariff reflection 2021 actuals network losses results r
Slide 13: Financial overview
Financial overview €m 9M 2021 9M 2022 %YoY Sales 48,087 81,593 +70 EBITDA1 6,277 6,110 -3 EBIT1 3,928 4,034 +3 Adjusted Net Income1 2,189 2,126 -3 OCFbIT 4,780 7,054 +48 Investments 2,913 2,838 -3 Economic Net Debt2 -38,773 -33,717 -13 1. Adjusted for non-operating effects 2. As of 31 December 2021
Slide 14: Financial leeway has widened since FY21
Financial leeway has widened since FY21 E.ON 9M 2022 results Economic Net Debt – YTD €bn -8.0 -7.8 Asset Retirement Obligations (ARO) -2.3 -6.1 Pension provisions Net financial position Debt factor target3 -23.6 4.8x -5.2x +3.8 -24.7 +6.0 -0.1 -1.6 -0.4 -33.7 -2.6 -38.8 END OCF Net Pensions2 Margini
Slide 15: Adjusted Net Income
Adjusted Net Income E.ON 9M 2022 results ANI €m vs. 9M 2021: vs. 9M 20212: -3% -3% 6,110 0.81 EPS 4,034 Tax rate at ~25% (€ per share) -2,076 3,320 -714 2,126 -830 -364 Group EBITDA1 D&A1 Group EBIT1 Economic Profit Income taxes Minorities Adjusted interest result before Taxes1 Net Income1 1. Adjust
Slide 16: Cash conversion rate of 122% in 9M 2022
Cash conversion rate of 122% in 9M 2022 E.ON 9M 2022 results CCR1 €bn 122% CCR 1 7.1 6.1 -1.3 6.0 -0.7 -0.4 2.3 3.2 -2.8 Group Cash Change in WC OCFbIT Interest Tax payments OCF Capex FCF EBITDA2 adjustments3 payments 1. Cash Conversion Rate (CCR): (OCF bIT + provision utilization nuclear) ÷ EBITDA
Slide 17: Energy Networks
Energy Networks E.ON 9M 2022 results EBITDA1 Drivers Organic RAB growth €m All Milder weather 4,069 CEE & Turkey 3,870 +5% 597 Germany Increasing efficiencies 795 360 Realization of synergies Sweden 396 Increased costs for network losses/ tariff adjustm. 3,112 Sweden Add. OPEX due to storms Germany
Slide 18: Customer Solutions
Customer Solutions E.ON 9M 2022 results EBITDA1 Drivers €m All Increased energy procurement passed through to customers 1,416 Milder weather 1,322 +7% 222 Other 391 Germany Realization of synergies 510 UK 296 Netherlands 102 209 UK Ongoing restructuring benefits and cost savings Germany 533 475 9M 2
Slide 19: Customer numbers B2B & B2C
Customer numbers B2B & B2C E.ON 9M 2022 results Customer accounts Thereof: electricity customers m1 m1 47.8 -1% 47.5 36.9 12.0 -1% 36.7 11.9 14.4 14.3 5.7 5.6 2.2 2.1 6.7 6.6 10.3 10.5 9.3 9.1 FY 2021 9M 2022 4.1 4.0 9.6 Thereof: gas customers 9.7 m1 10.3 10.5 10.9 2.4 -2% 10.8 2.4 3.6 3.5 FY 2021 9
Slide 20: Customer Solutions: Energy Retail & Energy Infrastructure Solutions (EIS)
Customer Solutions: Energy Retail & Energy E.ON 9M 2022 results Infrastructure Solutions (EIS) EBITDA1 Drivers €m Increased energy procurement passed through to +18% 1,416 customers Milder weather 1,322 Energy 365 Retail Realization of synergies 309 EIS Ongoing restructuring benefits Energy Retail 1
Slide 21: Non-Core
Non-Core E.ON 9M 2022 results EBITDA1 Drivers €m Nuclear production rights agreement 2021 Preussen Higher realized market prices Elektra End of operation Brokdorf & Grohnde Preussen 1,251 -38% 778 Elektra Turkey Higher realized market prices 1,217 Generation 645 Generation FX effects Turkey 133 34 9
Slide 22: Adjusted Net Income
Adjusted Net Income €m 9M 2021 9M 2022 %YoY EBITDA1 6,277 6,110 -3 Depreciation/amortization -2,349 -2,076 +12 EBIT1 3,928 4,034 +3 Economic interest expense, net -737 -714 +3 EBT1 3,191 3,320 +4 Income Taxes on EBT1 -734 -830 -13 % of EBT1 -23% -25% -9 Non-controlling interests -268 -364 -36 Adjust
Slide 23: Cash-effective investments
Cash-effective investments €m 9M 2021 9M 2022 %YoY Energy Networks 2,075 2,264 +9 Customer Solutions 470 517 +10 Thereof EIS 262 353 +35 Corporate Functions & Other 185 49 -74 Consolidation -1 2 +300 Non-Core 184 6 -97 Investments 2,913 2,838 -3 23
Slide 24: Economic Net Debt
Economic Net Debt €m FY 2021 9M 2022 Liquid funds 5,965 9,541 Non-current securities 1,699 1,357 Financial liabilities -32,730 -34,929 Adjusted FX hedging2 391 409 Net financial position -24,675 -23,622 Provisions for pensions -6,082 -2,301 Asset retirement obligations -8,016 -7,794 Economic Net Deb
Slide 25: Economic interest expense (net)
Economic interest expense (net) €m 9M 2021 9M 2022 YoY Interest from financial -719 -688 31 assets/liabilities Interest cost from provisions for -47 -42 5 pensions and similar provisions Accretion of provisions for retirement obligations and -0 -5 -4 similar provisions Construction period interest1
Slide 26: Reconciliation of EBITDA to IFRS Net Income
Reconciliation of EBITDA to IFRS Net Income €m 9M 2021 9M 2022 % YoY 1 EBITDA 6,277 6,110 -3 Depreciation/Amortization/Impairments -2,349 -2,076 +12 1 EBIT 3,928 4,034 +3 Interest result -456 619 +236 Net book gains 34 -59 -274 Restructuring -289 -85 +71 Effects from derivative financial instruments
Slide 27: Bond maturities
Bond maturities E.ON 9M 2022 results Benchmark bond maturities as of end 9M 20221 €bn 16.5 Volume % Coupon 1.5 1.1 0.0% 1.0 0.0% 0.8 0.8 0.7 0.8 0.7 0.7 0.5 0.5 0.5 0.4% 0.8% 3.0% 0.0% 0.9% 1.0% 1.0% 0.3% 5.6% 0.9% 0.1% 1.6% Q4 Q2 Q4 Q1 Q2 Q3 Q1 Q2 Q4 Q1 Q2 Q4 >2026 2022 2023 2023 2024 2024 2024 202
Slide 28: Financial calendar & important links
Financial calendar & important links E.ON 9M 2022 results Financial calendar March 15, 2023 Annual Report: 2022 May 10, 2023 Quarterly Statement: January – March 2023 May 17, 2023 Annual General Meeting August 9, 2023 Half Year Financial Report: 2023 Important links Presentations Facts & Figures 202
Slide 29: E.ON Investor Relations Team
E.ON Investor Relations Team E.ON 9M 2022 results General Contact: +49 201 184 2806 investorrelations@eon.com Analysts & Institutional Investors Iris Eveleigh Max Sadrina Britta Wöhner Head of Investor Relations Manager Investor Relations Manager Investor Relations iris.eveleigh@eon.com max.sadrina@
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Slide 31: 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