Slide 1: Q1 2023 Results: Taking action now
Taking action now Q1 2023 Results 10 May 2023
Slide 2: Solid start to the year allowing for FY guidance confirmation
E.ON Q1 2023 Results Solid start to the year allowing for FY guidance confirmation Q1 development Key financials • Solid performance in Q1 2023 in both Energy Networks and €bn Customer Solutions EPS2 • Significant year-over-year increase driven by investment-backed underlying growth, strong executio
Slide 3: Growth from investments, strong execution and timing effects drive EBITDA increase
E.ON Q1 2023 Results Growth from investments, strong execution and timing effects drive year-over-year EBITDA increase EBITDA1 Key financials €m Energy Networks Q1 2022 2,088 + RAB growth + Germany: Timing effects, e.g. redispatch cost2 Non-Core -246 + Sweden and CEE : Recovery of network losses Cus
Slide 4: Adjusted Net Income following EBITDA development
E.ON Q1 2023 Results Adjusted Net Income following EBITDA development ANI1 €m 2,715 Tax rate at ~25% 0.40 EPS1 2,036 (€ per share) 1,803 -679 -233 -451 1,031 -321 EBITDA1 D&A1 EBIT1 Economic Profit Income taxes Minorities Adjusted interest result before Taxes1 Net Income1 1. Adjusted for non-operati
Slide 5: Payment behavior remains unchanged, bad debt exposure tightly managed
E.ON Q1 2023 Results Payment behavior remains unchanged, bad debt exposure continues to be tightly managed Indicators for relevant markets ‘Bad debt’ allowances2 €bn • Direct government support Government Payment 1.8 packages and price caps still intervention behavior1 1.5 1.3 supportive for payment
Slide 6: Solid END position despite typical seasonal cash outflows
E.ON Q1 2023 Results Solid END position despite typical seasonal cash outflows Economic Net Debt – quarterly comparison • END development fully in line with €bn expectations • Investments ramp up fully on track -7.4 -7.4 (+30% YOY increase in Q1) Asset Retirement Obligations (ARO) • Expectation on 2
Slide 7: Fully on-track for FY 2023 and 2027 outlook
E.ON Q1 2023 Results Fully on-track for FY 2023 and 2027 outlook €bn Actuals FY 2022 FY 2023 FY 2027 • Solid start to Q1 supported by timing EBITDA 1 6.9752 7.8-8.0 ~9.0 effects in Energy Networks and Energy Networks 5.459 6.0-6.2 6.5-6.7 Energy Retail Customer Solutions 1.686 1.8-2.0 2.3-2.6 • 2023
Slide 8: Financial Appendix
YOR as Financial Append
Slide 9: Financial Overview
E.ON Q1 2023 Results | Financial Appendix Financial Overview €m Q1 2022 Q1 2023 %YoY Sales 29,507 33,543 +14 EBITDA1 2,088 2,715 +30 1 EBIT 1,396 2,036 +46 Adjusted Net Income1 683 1,031 +51 OCFbIT -476 -431 +9 Investments 790 1,038 +31 2 Economic Net Debt -32,742 -35,086 -7 1. Adjusted for non-oper
Slide 10: Cash conversion rate of -19% in Q1 2023 following typical seasonal patterns
First Quarter 2023 | Financial Appendix Cash conversion rate of -19% in Q1 2023 following typical seasonal patterns CCR1 €bn -19% CCR 0.7 2.7 -3.9 -0.4 -0.2 -0.2 -0.8 -1.0 -1.9 EBITDA2 Cash Change in WC OCFbIT Interest Tax payments OCF Capex FCF adjustments3 payments 1. Cash Conversion Rate (CCR): O
Slide 11: Key performance drivers for 2023
E.ON Q1 2023 Results | Financial Appendix Key performance drivers for 2023 EBITDA1 Energy Networks Customer Solutions All All + Organic RAB growth + Normalization of procurement cost Germany Energy Retail + Increasing efficiencies + Germany: Procurement optimization, solutions + Redispatch costs bus
Slide 12: Energy Networks
E.ON Q1 2023 Results | Financial Appendix Energy Networks EBITDA1 Drivers €m 1,899 +30% All Germany 1,463 + RAB growth + Increasing efficiencies – Lower volumes + Redispatch cost Germany Sweden CEE & Turkey Sweden CEE & Turkey + Increased recovery for network losses + Increased recovery for network
Slide 13: Redispatch cost
E.ON Q1 2023 Results | Financial Appendix Redispatch cost What is redispatch? • Operators of renewables capacity feed their production into the grid networks • Under times of network overload (lots of renewables feeding in simultaneously), TSOs and/or DSOs instruct producers of electricity to reduce
Slide 14: Customer Solutions
E.ON Q1 2023 Results | Financial Appendix Customer Solutions EBITDA1 Drivers €m 814 All Germany +96% + Normalization of procurement cost + Procurement optimization - Bad debt provisioning Germany - Weather 415 UK UK Other Netherlands + Prior year Q4 recovery driven by regulation + Romania: Normaliza
Slide 15: Customer numbers B2B & B2C
E.ON Q1 2023 Results | Financial Appendix Customer numbers B2B & B2C Customer accounts Thereof: electricity customers m1 m1 36.8 36.8 47.6 47.4 6.5 6.5 10.6 10.6 9.5 9.5 5.6 2.1 5.6 2.1 ~0% 10.6 10.6 12.0 12.0 FY 2022 Q1 2023 4.0 3.9 9.1 9.1 ~0% Thereof: gas customers m1 14.4 14.3 10.8 10.6 3.0 3.0
Slide 16: Energy Retail & Energy Infrastructure Solutions
E.ON Q1 2023 Results | Financial Appendix Energy Retail & Energy Infrastructure Solutions EBITDA1 Drivers €m 814 Energy Retail Energy Infrastructure Solutions + Germany: Procurement optimization + Organic growth from new projects + UK: Market stabilization 415 +184% + NL: Procurement optimization -
Slide 17: Adjusted Net Income
E.ON Q1 2023 Results | Financial Appendix Adjusted Net Income €m Q1 2022 Q1 2023 %YoY 1 EBITDA 2,088 2,715 +30 Depreciation/amortization -692 -679 +2 1 EBIT 1,396 2,036 +46 Economic interest expense, net -238 -233 +2 EBT1 1,158 1,803 +56 Income Taxes on EBT1 -289 -451 -56 1 % of EBT -25% -25% -0 Non
Slide 18: Cash-effective investments
E.ON Q1 2023 Results | Financial Appendix Cash-effective investments €m Q1 2022 Q1 2023 %YoY Energy Networks 611 825 +35 Customer Solutions 166 176 +6 Thereof EIS 103 104 +1 Corporate Functions 13 39 +200 Consolidation – -2 – Investments 790 1,038 +31 18
Slide 19: Economic Net Debt
E.ON Q1 2023 Results | Financial Appendix Economic Net Debt €m FY 2022 Q1 2023 Liquid funds 9,378 8,970 Non-current securities 1,347 1,326 1 Financial liabilities -32,483 -34,395 Adjusted FX hedging 196 153 Net financial position -21,562 -23,946 Provisions for pensions -3,735 -3,771 2 Asset retireme
Slide 20: Economic interest expense (net)
E.ON Q1 2023 Results | Financial Appendix Economic interest expense (net) €m Q1 2022 Q1 2023 YoY Interest from financial assets/liabilities -230 -194 +36 Interest cost from provisions for pensions and similar provisions -14 -24 -10 Accretion of provisions for retirement obligations and similar provi
Slide 21: Reconciliation of EBITDA to IFRS Net Income
E.ON Q1 2023 Results | Financial Appendix Reconciliation of EBITDA to IFRS Net Income €m Q1 2022 Q1 2023 %YoY 1 EBITDA 2,088 2,715 +30 Depreciation/Amortization/Impairments -692 -679 +2 EBIT1 1,396 2,036 +46 Interest result 15 -235 -1,667 Net book gains -16 -2 +88 Restructuring -40 1 +103 Effects fr
Slide 22: Bond maturities
E.ON Q1 2023 Results | Financial Appendix Bond maturities Benchmark bond maturities as of end Q1 20231 €bn 18.2 1.3 1.0 0.0% 0.8 0.8 0.7 0.8 0.7 0.7 0.5 0.5 0.5 0.4% 3.0% 0.0% 0.9% 1.0% 1.0% 0.3% 5.6% 0.9% 0.1% 1.6% Q2 Q4 Q1 Q2 Q3 Q1 Q2 Q4 Q1 Q2 Q4 >2026 2023 2024 2025 2026 1. Bonds issued by E.ON S
Slide 23: Financial calendar & important links
E.ON Q1 2023 Results | Calender Financial calendar & important links Financial calendar May 17, 2023 August 09, 2023 November 08, 2023 March 13, 2024 Annual General Meeting Half Year Financial Report Quarterly Statement Full Year Financial Report 2023 January – November 2023 2023 Important links Pre
Slide 24: E.ON Investor Relations team
E.ON Q1 2023 Results | Financial Appendix E.ON Investor Relations team Iris Eveleigh Martin Jäger Max Sadrina Andreas Thielen Head of Investor Relations Manager Investor Relations Manager Investor Relations Manager Investor Relations iris.eveleigh@eon.com martin.jaeger@eon.com max.sadrina@eon.com an
Slide 25: Disclaimer
E.ON Q1 2023 Results | Financial Appendix 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 pur