Slide 1: Taking action now - 9M 2023 Results
Taking action now 9M 2023 Results 8 November 2023
Slide 2: Strong 9M outturn and healthy balance sheet support accelerated growth plans
E.ON 9M 2023 Results Strong 9M outturn and healthy balance sheet support accelerated growth plans 9M development Key financials EPS1 • Strong earnings delivery in 9M 2023 in both segments, Energy €bn €0.612 €1.13 Networks and Customer Solutions 7.8 2.9 32.7 34.2 • Investment-backed underlying growth
Slide 3: Investments into networks and normalization of retail margins drive 9M growth
E.ON 9M 2023 Results Investments into networks and normalization of retail margins drive 9M growth EBITDA1 Key financials €m Energy Networks 9M 2022 6,110 + RAB growth + Germany: Timing effects from lower redispatch cost Non-Core -778 + Sweden and CEE: Recovery of network losses Customer Solutions C
Slide 4: Adjusted Net Income benefitting from positive EBITDA development
E.ON 9M 2023 Results Adjusted Net Income benefitting from positive EBITDA development Adjusted Net Income1 €m + 46% yoy2 1.13 EPS1 (€ per share) 7,789 Tax rate at ~25% + 83% yoy2 5,662 -2,127 4,823 -839 2,941 -1,205 -677 EBITDA1 D&A1 EBIT1 Economic Profit Income taxes1 Minorities1 Adjusted interest
Slide 5: Strong operating cashflow overcompensating high investment levels in Q3
E.ON 9M 2023 Results Strong operating cashflow overcompensating high investment levels in Q3 leading to comfortable END position Economic Net Debt – quarterly comparison €bn • Acceleration of investment spending well progressed -7.1 -6.9 • Expectation on FY 2023 Cash Asset Retirement Obligations (AR
Slide 6: 2023 earnings guidance confirmed - investment target increased
E.ON 9M 2023 Results 2023 earnings guidance confirmed - investment target increased €bn Actuals FY 2022 FY 2023 FY 2027 EBITDA1 6.9752 8.6-8.8 ~9.0 Energy Networks 5.459 6.3-6.5 6.5-6.7 • Maintaining sizable buffer Customer Solutions 1.686 2.3-2.5 2.3-2.6 for the winter mainly in Energy Retail 1.118
Slide 7: Financial Appendix
YOR as Financial Append
Slide 8: Financial Overview
E.ON 9M 2023 Results | Financial Appendix Financial Overview €m 9M 2022 9M 2023 %YoY Sales 81,593 69,243 -15 EBITDA1 6,110 7,789 +27 EBIT1 4,034 5,662 +40 Adjusted Net Income1 2,126 2,941 +38 OCFbIT 7,054 5,054 -28 Investments 2,838 3,928 +38 Economic Net Debt2 -32,742 -34,153 -4 1. Adjusted for non
Slide 9: Cash conversion rate of +67% in 9M 2023
E.ON 9M 2023 Results | Financial Appendix Cash conversion rate of +67% in 9M 2023 CCR1 €bn 67% CCR 7.8 -0.7 5.1 -2.0 -0.6 3.7 -0.7 -3.9 -0.2 EBITDA2 Cash Change in WC OCFbIT Interest Tax payments OCF Investments FCF adjustments3 payments 1. Cash Conversion Rate (CCR): OCFbIT excl. OCFbIT related to
Slide 10: END development year-to-date
E.ON 9M 2023 Results | Financial Appendix END development year-to-date Economic Net Debt – year to date €bn -7.4 -6.9 -3.7 Asset Retirement Obligations (ARO) -3.5 Debt factor3 target of Pension provisions ≤ 5.0x Net financial position Securing a strong -21.6 -23.8 +3.7 BBB/Baa rating +0.2 +0.1 -32.7
Slide 11: Key performance drivers for 2023
E.ON 9M 2023 Results | Financial Appendix Key performance drivers for 2023 EBITDA1 Energy Networks Customer Solutions All All + Organic RAB growth + Normalization of retail margins Germany + Improved market environment + Redispatch cost Energy Retail + Increasing efficiencies + Germany: Procurement
Slide 12: Energy Networks
E.ON 9M 2023 Results | Financial Appendix Energy Networks EBITDA1 Drivers €m 4,069 4,856 +19% All + RAB growth Germany + Redispatch cost - Lower volumes + Increasing efficiencies Germany Sweden CEE & Turkey Sweden CEE & Turkey + Increased recovery for network losses + Increased recovery for network
Slide 13: Customer Solutions
E.ON 9M 2023 Results | Financial Appendix Customer Solutions EBITDA1 Drivers €m 2,989 +111% All + Normalization of retail margins Germany + Procurement optimization + Improving market environment + Normalization of B2B margins Germany 1,417 UK UK Other Netherlands + Recovery of tariff deficit of Q4
Slide 14: Customer numbers B2C & B2B
E.ON 9M 2023 Results | Financial Appendix Customer numbers B2C & B2B Customer accounts1 Thereof: electricity customers1 m m 36.8 36.6 47.6 47.2 6.5 6.6 9.5 10.6 9.6 5.6 2.1 10.6 2.1 ~-1% 5.5 10.6 10.6 12.0 11.8 4.0 3.9 ~-1% FY 2022 Thereof: gas customers1 9M 2023 9.1 9.0 m 10.8 10.6 14.4 14.1 3.0 3.
Slide 15: Energy Retail & Energy Infrastructure Solutions (EIS)
E.ON 9M 2023 Results | Financial Appendix Energy Retail & Energy Infrastructure Solutions (EIS) EBITDA1 Drivers €m 2,989 Energy Retail Energy Infrastructure Solutions (EIS) +148% + All countries: Normalization of retail + Organic growth from new projects Energy Retail margins and improved market - N
Slide 16: Adjusted Net Income
E.ON 9M 2023 Results | Financial Appendix Adjusted Net Income €m 9M 2022 9M 2023 %YoY EBITDA1 6,110 7,789 +27 Depreciation/amortization -2,076 -2,127 -2 EBIT1 4,034 5,662 +40 Economic interest expense, net -714 -839 -18 EBT1 3,320 4,823 +45 Income Taxes on EBT1 -830 -1,205 -45 % of EBT1 -25% -25% +0
Slide 17: Cash-effective investments
E.ON 9M 2023 Results | Financial Appendix Cash-effective investments €m 9M 2022 9M 2023 %YoY Energy Networks 2,265 3,117 +38 Customer Solutions 518 710 +37 Thereof EIS 353 431 +22 Corporate Functions 55 101 +84 Consolidation 0 0 - Investments 2,838 3,928 +38 17
Slide 18: Economic Net Debt
E.ON 9M 2023 Results | Financial Appendix Economic Net Debt €m FY 2022 9M 2023 Liquid funds 9,378 9,561 Non-current securities 1,347 1,214 Financial liabilities1 -32,483 -34,711 Adjusted FX hedging 196 206 Net financial position -21,562 -23,730 Provisions for pensions -3,735 -3,524 Asset retirement
Slide 19: Operating interest result (net)
E.ON 9M 2023 Results | Financial Appendix Operating interest result (net) €m 9M 2022 9M 2023 YoY Interest from financial assets/liabilities -688 -737 -49 Interest cost from provisions for pensions and similar provisions -42 -72 -30 Accretion of provisions for retirement obligations and similar provi
Slide 20: Reconciliation of EBITDA to IFRS Net Income
E.ON 9M 2023 Results | Financial Appendix Reconciliation of EBITDA to IFRS Net Income €m 9M 2022 9M 2023 %YoY EBITDA1 6,110 7,789 +27 Depreciation/Amortization/Impairments -2,076 -2,127 -2 EBIT1 4,034 5,662 +40 Interest result 619 -337 -154 Net book gains -59 -7 +88 Restructuring -85 -26 +69 Effects
Slide 21: Bond maturities
E.ON 9M 2023 Results | Financial Appendix Bond maturities Benchmark bond maturities as of September 30th 20231 €bn 18.0 1.3 1.0 0.0% 0.8 0.9 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% 1.3% 5.6% 0.9% 0.1% 1.6% Q4 Q1 Q2 Q3 Q1 Q2 Q4 Q1 Q2 Q4 Q3 Q4 >2027 2023 2024 2024 2024 2025
Slide 22: Financial calendar & important links
E.ON 9M 2023 Results | Calender Financial calendar & important links Financial calendar March 13, 2024 May 15, 2024 May 16, 2024 August 14, 2024 Full Year Financial Report Quarterly Statement Annual General Meeting Half-Year Financial Report: 2023 January – March 2024 January – June 2024 Important l
Slide 23: E.ON Investor Relations team
E.ON 9M 2023 Results | Contact 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 andreas.thiel
Slide 24: Disclaimer
E.ON 9M 2023 Results | 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