E.ON AG / AGM/EGM/Dividend
30.04.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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E.ON again with one of highest dividends in Germany
22 percent dividend increase proposed
New Supervisory Board members
A successful 2007 business year with a 10 percent rise of the Adjusted EBIT
and significantly improved growth prospects especially on core markets in
Europe: These positive messages are at the forefront of E.ON's annual
general meeting. Given the good development of results in 2007, the Board
of Management and Supervisory Board are proposing to today's AGM in Essen a
further 22 percent increase in the dividend to 4.10 per share. E.ON CEO
Wulf H. Bernotat: 'E.ON is again one of the companies with the highest
dividends in Germany. Our growth strategy has also met with broad approval
on international capital markets. This is also shown by the pleasing 42
percent share price increase last year, which well exceeded the DAX's
development.'
Investment programme successfully started
Also positive is the implementation so far of E.ON's surely unique
investment programme, which was adopted in May 2007 and has now been
increased to 63 bn. Mr. Bernotat: 'We are progressing faster than planned
with the implementation of our programme. Thanks to organic growth and
targeted acquisitions in particular, we are strengthening our business in
Europe as our core market and tapping growth opportunities in other
regions. Last but not least, we are creating jobs: about 15,000 in Germany
and 30,000 in Europe.'
Last year, E.ON succeeded in reinforcing its position on the main markets
and developing new platforms for future growth. For example, E.ON entered
the high-growth Russian power market by acquiring a majority stake in
OGK-4, a major power plant company.
In Spain and Italy, E.ON is considerably expanding its position by buying a
substantial package of shareholdings from Enel and Acciona. At the same
time, E.ON is entering the attractive French power generation market.
In northern Europe, too, E.ON has laid the basis for consolidating its
position. By taking over Statkraft's minority stake in E.ON Sverige, E.ON
is gaining complete control of its Nordic business.
In the gas sector, E.ON expanded its upstream position by acquiring stakes
in the Skarv and Idun gas fields in the Norwegian Sea. Together with
adjoining fields, the area is one of the largest and most attractive gas
deposits in Norway still to be developed.
Major progress in development of renewables
E.ON has made considerable progress above all in the field of renewables.
By acquiring ENERGI E2 Renovables Ibéricas with wind power activities in
Spain and Portugal as well as the business of Airtricity in the US and
Canada, E.ON has already moved up to seventh position on the global growth
market for wind energy. In addition, E.ON has put a number of new wind
farms into operation. Since May 2007 the company has trebled its renewables
capacity from 420 MW to 1,350 MW. Mr. Bernotat: 'Our aim is to be one of
the world's top 5 in this sector. This goal and our success so far have
prompted us to double our planned investments in renewables to 6 bn for
the four years from 2007 to 2010. This shows that climate protection is an
integral part of our growth strategy.'
E.ON energy mix to be 50 percent CO2-free in 2030
Nonetheless, in the coming decades, coal, gas and nuclear energy will still
be needed alongside renewables, which are not yet suitable for meeting
baseload demand. This is the only way of ensuring a secure, climate
friendly and affordable energy supply. E.ON is therefore seeking an energy
mix that meets those three overriding objectives.
Bernotat: 'We need a balanced energy mix which enables us to offset the
cost risks of different energy sources and generally minimise our
dependence on imports. It is therefore essential to make coal-based power
generation increasingly efficient and at the same time develop carbon
capture and storage (CCS) further. E.ON is involved in a number of
international projects aimed at bringing this technology to market maturity
by 2020. We are striving for an energy mix which is more than 50 percent
CO2-free by 2030 - by greatly increasing the share of renewables but also
by utilising nuclear energy and CO2-free coal-fired power stations. CO2
output from the other half of our power generation based on coal and gas is
to be considerably reduced with the aid of highly efficient technologies.
In all, we want to lower our specific CO2 emissions by at least 50 percent
by 2030.
Outlook: Focusing on organic growth and integration
Following numerous acquisitions and takeovers in 2007 and 2008, E.ON
intends to focus on organic growth of the company on European markets in
the coming years. Mr. Bernotat: 'Our investment programme sets the
direction up to 2010. We will continue to implement this programme
resolutely and thus strengthen and expand our market positions. A key task
ahead will be to integrate our newly acquired shareholdings, improve
synergies and consolidate the Group as a whole. This is a highly important
task.'
New Supervisory Board members
At the AGM, the E.ON shareholders will decide on changes to the E.ON
Supervisory Board. Rolf E. Breuer, former Deutsche Bank CEO, Klaus Liesen,
former Ruhrgas CEO and Karl-Hermann Baumann are stepping down. The new
Supervisory Board members proposed are Werner Wenning, Bayer CEO, Bard
Mikkelsen, CEO of Statkraft, Norway, and Karen de Segundo, until recently
Shell director of renewables.
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This press release may contain forward-looking statements based on current
assumptions and forecasts made by E.ON Group management and other
information currently available to E.ON. Various known and unknown risks,
uncertainties and other factors could lead to material differences between
the actual future results, financial situation, development or performance
of the company and the estimates given here. E.ON AG does not intend, and
does not assume any liability whatsoever, to update these forward-looking
statements or to conform them to future events or developments.
Dr. Peter Blau
Executive Vice-President Corporate Communications E.ON AG
T. +49-211-4579-628
Dr. Jens Schreiber
Vice President Media Relations E.ON AG
T. +49-211-4579-544
DGAP 30.04.2008
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Language: English
Issuer: E.ON AG
E.ON-Platz 1
40479 Düsseldorf
Deutschland
Phone: +49 (0)211 4579-0
Fax: +49 (0)211 45 79-5 01
E-mail: investorrelations@eon.com
Internet: www.eon.com
ISIN: DE0007614406
WKN: 761440
Indices: DAX, EURO STOXX 50
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Hannover, Düsseldorf, Stuttgart, München, Hamburg;
Terminbörse EUREX; Foreign Exchange(s) Mailand
End of News DGAP News-Service
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DGAP-News: E.ON AG: again with one of highest dividends in Germany
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