Slide 1: 9M 2021 Results
9M 2021 Results November 10th, 2021
Slide 2: Significant EBIT growth in all segments
Significant EBIT growth in all segments E.ON 9M 2021 results EBIT1 Key drivers €m + • Covid-19 impact in 2020 9M 2020 2,688 Energy • Germany: normalized weather/ +/– Networks regulatory cycle Energy +85 + • CEE & Turkey: Slovakia - inclusion of VSEH2 Networks + • Covid-19 impact in 2020 Customer +51
Slide 3: Adjusted Net Income increase amplified by lower refinancing costs and tax rate
Adjusted Net Income increase is amplified by lower E.ON 9M 2021 results refinancing costs and tax rate 9M 2021 €m vs. 9M 2020: Group EBIT1 3,928 +46% Economic -737 interest result Profit 3,191 before Taxes1 Income taxes -734 Tax rate at ~23% Minorities -268 vs. 9M 2020: 0.84 EPS (€ per share) +101%
Slide 4: END reduced by strong OCF, Hungarian restructuring & temporary collateral effects
END reduced by strong OCF, execution of Hungarian E.ON 9M 2021 results restructuring & temporary effects from collateral payments €bn -8.1 -8.6 Asset Retirement Obligations (ARO) -6.0 Pension provisions -6.4 Net financial position -23.1 +0.6 -25.9 -37.2 +0.4 +1.0 +0.1 -0.5 +2.2 -40.9 END OCF Net Inv
Slide 5: Group guidance 2021 confirmed
Group guidance 2021 confirmed E.ON 9M 2021 results Group guidance 2021 Midterm delivery plan (2021-2023) EBITDA1: €7.6-7.8bn ✓ EBIT1: €4.4-4.6bn ✓ Dividend per share (DPS) growth up to 5% p.a. Capex: ~€4.9bn ✓ ANI1: €2.2-2.4bn ✓ EBIT1 growth Group EPS1 growth Group 8-10%2 CAGR 12-14%2 CAGR cash conv
Slide 6: 9M 2021 Results Financial Appendix
9M 2021 Results Financial Appendix
Slide 7: Guidance overview
Guidance overview E.ON 9M 2021 results €bn FY 2020 2021 2021-2023 EBITDA1 6.905 7.6-7.8 2-3%2 CAGR Energy Networks 5.199 5.0-5.2 Customer Solutions 1.006 1.4-1.6 Non-Core 0.925 1.2-1.4 Corporate Functions & Other -0.225 ~-0.2 EBIT1 3.776 4.4-4.6 8-10%2 CAGR Core EBIT 3.363 11-13% CAGR Energy Network
Slide 8: Segment outlook 2021 remaining year
Segment outlook 2021 remaining year E.ON 9M 2021 results EBIT1 key drivers Q4 2021 Energy Networks Customer Solutions Non-Core Germany: –• Higher commodity prices PreussenElektra: •– Regulatory cycle +• Lower depreciation from purchase UK: of production rights Sweden: –• Mutualization of industry co
Slide 9: Financial highlights
Financial highlights E.ON 9M 2021 results €m 9M 2020 9M 2021 % YoY Sales 43,314 48,087 +11 1 EBITDA 4,966 6,277 +26 1 EBIT 2,688 3,928 +46 Adjusted Net Income 1 1,089 2,189 +101 OCFbIT 4,063 4,780 +18 Investments 2,374 2,913 +23 Economic Net Debt² -40,736 -37,169 0 1. Adjusted for non-operating effe
Slide 10: Higher cash conversion rate of 81% in 9M 2021
Higher cash conversion rate1 of 81% in 9M 2021 due to E.ON 9M 2021 results working capital improvement €bn 81% CCR1 6.3 -0.7 4.8 -0.8 -0.7 3.4 -0.7 0.5 -2.9 Group Cash Change in WC OCFbIT Interest Tax payments OCF Capex FCF EBITDA2 adjustments3 payments 1. Cash Conversion Rate (CCR): (OCF bIT + prov
Slide 11: Divisions: Energy Networks
Divisions: Energy Networks E.ON 9M 2021 results EBIT1 Drivers €m +• Covid-19 impact in 2020 2,329 +4% 2,414 All +• Organic RAB growth CEE & Turkey 498 536 +• Normalized weather (vs. 9M 2020) Sweden 275 270 Germany –• Regulatory cycle Germany 1,556 1,608 CEE & Turkey +• Slovakia: first time contribut
Slide 12: Divisions: Customer Solutions
Divisions: Customer Solutions E.ON 9M 2021 results EBIT1 Drivers €m +• Covid-19 impact in 2020 +133% 901 All +• Normalized weather (vs. 9M 2020) 227 Germany +• Realization of synergies Other Benelux 386 209 UK +• Restructuring benefits 55 47 Germany 45 410 +• Strong operational performance UK 296 -2
Slide 13: Customer numbers B2B & B2C
Customer numbers B2B & B2C E.ON 9M 2021 results Customer accounts (m)1 Thereof: electricity customers (m)1 +1% 38.8 +1% 39.2 49.9 50.2 11.7 11.7 6.2 6.1 2.2 2.2 13.9 14.0 8.6 8.9 10.1 10.3 10.3 10.0 FY 2020 9M 2021 4.1 4.1 Thereof: gas customers (m)1 11.1 -0.5% 11.0 11.5 11.8 2.2 2.3 4.1 3.9 10.1 10
Slide 14: Non-Core business
Non-Core business E.ON 9M 2021 results EBIT1 Drivers €m +• Nuclear +189% production rights agreement 860 Preussen (~€550m) Elektra +• Higher availability of plants Preussen 826 Elektra 298 Turkey –• FX effects Generation 271 Generation +• Higher achieved spark spreads Turkey 34 27 9M 2020 9M 2021 Pr
Slide 15: Adjusted Net Income
Adjusted Net Income E.ON 9M 2021 results €m 9M 2020 9M 2021 % YoY EBITDA1 4,966 6,277 +26 Depreciation/amortization -2,278 -2,349 -3 1 EBIT 2,688 3,928 +46 Economic interest expense (net) -836 -737 +12 1 EBT 1,852 3,191 +72 1 Income Taxes on EBT -463 -734 -59 % of EBT 1 -25% -23% +8 Non-controlling
Slide 16: Reconciliation of EBIT to IFRS Net Income
Reconciliation of EBIT to E.ON 9M 2021 results IFRS Net Income €m 9M 2020 9M 2021 % YoY EBITDA1 4,966 6,277 +26 Depreciation/Amortization/Impairments -2,278 -2,349 -3 1 EBIT 2,688 3,928 +46 Interest result -535 -456 +15 Net book gains 218 34 -84 Restructuring -390 -289 +26 Mark-to-market valuation o
Slide 17: Cash-effective investments
Cash-effective investments E.ON 9M 2021 results €m 9M 2020 9M 2021 % YoY Energy Networks 2,022 2,075 +3 Customer Solutions 513 471 -8 Corporate Functions & Other -320 185 +158 Consolidation 0 -2 - Non-Core 159 184 +16 Investments 2,374 2,913 +23 17
Slide 18: Economic Net Debt
Economic Net Debt1 E.ON 9M 2021 results €m 31 Dec 2020 30 Sep 2021 Liquid funds 4,795 6,231 Non-current securities 1,887 1,785 Financial liabilities -30,720 -31,365 2 Adjustment FX hedging 82 266 Net Financial Position -23,956 -23,083 Provisions for pensions -8,088 -6,036 Asset retirement obligation
Slide 19: Economic interest expense (net)
Economic interest expense (net) E.ON 9M 2021 results Difference €m 9M 2020 9M 2021 (in € m) Interest from financial assets/liabilities -789 -719 70 Interest cost from provisions for pensions and similar provisions -73 -47 25 Accretion of provisions for retirement obligation and similar provisions -4
Slide 20: END reduced by strong OCF and reduction in pension provisions
END reduced by strong OCF and reduction in pension E.ON 9M 2021 results provisions €bn -8.7 Asset Retirement Obligations (ARO) -8.1 Pension provisions Net financial position -6.0 -8.1 -23.1 -24.0 +3.4 +2.1 +1.7 + 1.1 -37.2 -2.1 -1.5 -40.7 END OCF Net Investments Pensions2 Dividends Other END FY 2020
Slide 21: Bond maturities
Bond maturities E.ON 9M 2021 results Bond maturities as of end 9M 20211 €bn 16.0 Refinancing benefits Volume % Coupon 2021 - 2023 of up to 1.5 ~€150m2 1.3 1.2 5.7% 0.0% 1.1 5.9% 5.6% 0.9 0.8 0.8 0.7 0.7 5.5% 3.9% 0.5 0.5 0.4% 0.8% 0.3 0.0% 3.0% 0.0% 1.0% 1.0% 0.3% 0.0% 0.9% 1.6% 5.5% Q3 Q4 Q1 Q2 Q4
Slide 22: Financial calendar & important links
Financial calendar & important links E.ON 9M 2021 results Financial calendar November 23, 2021 Capital Markets Day 2021 March 16, 2022 Annual Report 2021 May 11, 2022 Quarterly Statement: January – March 2022 May 12, 2022 2022 Annual Shareholder Meeting August 10, 2022 Half-Year Financial Report: Ja
Slide 23: E.ON's Investor Relations Team
E.ON‘s Investor Relations Team E.ON 9M 2021 results Analysts & Institutional Investors Event & Roadshow Management Verena Nicolaus-Kronenberg Björn Siggemann Vanessa Brinkmann Head of Investor Relations Manager Investor Relations Assistant Investor Relations verena.nicolaus-kronenberg@eon.com bjoern
Slide 24: 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 agree