E.ON SE (EONGY) Q1 2026 Earnings Call

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WEBVTT 00:00:00.908 -- 00:00:05.757 Good morning, everyone. Dear analysts and investors, a warm welcome from my side to our 00:00:05.757 -- 00:00:08.081 first quarter 2026 earnings 00:00:08.081 -- 00:00:13.972 call. I'm here with our CFO, Nadja Jacobi, who will present our results. 00:00:13.972 -- 00:00:17.639 As always, we will leave enough room for your questions at the end. 00:00:17.639 -- 00:00:19.442 With that, over to you, Nadja. 00:00:19.442 -- 00:00:24.466 Thank you, Iris, and a warm welcome from my side as well. 00:00:24.466 -- 00:00:29.612 Only two and a half months ago, we presented our full year 2025 results to you and 00:00:29.612 -- 00:00:34.678 updated our outlook until 2030. Today, I will give you an update 00:00:34.678 -- 00:00:37.762 how we performed in the first quarter. 00:00:37.762 -- 00:00:41.987 The last months have been marked by a volatile macro environment caused by geopolitical 00:00:41.987 -- 00:00:47.073 turmoil. The ongoing U.S.-Iran tensions drive commodity prices higher 00:00:47.073 -- 00:00:49.934 and increase market volatility. 00:00:50.032 -- 00:00:54.697 Our results demonstrate our ability to effectively and successfully deal with market 00:00:54.697 -- 00:00:59.341 turbulence, as we have shown before, during the COVID and the energy crisis caused by 00:00:59.341 -- 00:01:01.303 the Ukraine war. 00:01:01.303 -- 00:01:05.828 The resilience and defensiveness of our unique business model positions us as a safe 00:01:05.828 -- 00:01:10.030 haven in an increasingly volatile world. 00:01:10.152 -- 00:01:15.157 Most of our EBTA is generated in regulated energy networks, where earnings are largely 00:01:15.157 -- 00:01:20.285 protected against volume and price risks. Strong secular growth trends make 00:01:20.285 -- 00:01:23.670 us nearly ...