E.ON SE (EONGY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Dear analysts and investors, a warm welcome from my side to our first quarter 2025 earnings call. I am here with our CFO, Nadja Jacobi, who will present our results. As always, we will leave enough room for your questions at the end. With that, over to you, Nadja. Thank you, Iris, and a warm welcome from my side as well. Since our full year results, much has happened from a global macroeconomic perspective. With Liberation Day, a spiral of tariff announcement resulted in recessionary fears and high volatility in equity markets globally. But with the suspension of tariffs between the U.S. and several countries, a relatively quick recovery has started during the last days. In this period of uncertainty, we have seen that our business model proves to be very resilient and robust against these macroeconomic developments. In Germany, we had federal elections and the new coalition government was formed swiftly. They are encouraging signs of positive momentum for the German economy as well as the energy transition. On the regulatory side, we expect the framework and methodologies for the fifth regulatory period in Germany for power to be developed by the end of 2025. However, history has shown that timelines can sometimes slip. We expect the first regulatory consultation documents to be published in the coming weeks and months. We will then be able to provide you with our assessment. Let us now leave any further discussions on macroeconomic or political topics for the Q&A session later and instead turn to our business. I have four messages for today. First, E.ON delivered a strong operational financial performance in Q1, which puts us firmly on track to deliver our full year guidance. Our adjusted EBITDA reached 3.2 billion euro and our adjusted net ...