DGAP-News: E.ON SE / Key word(s): AGM/EGM
E.ON SE: 2015 E.ON Annual Shareholders Meeting
07.05.2015 / 07:30
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2015 E.ON Annual Shareholders Meeting
- Corporate transformation key topic at meeting
- Wenning and Teyssen explain future organizational setup
- Fixed dividend of EUR0.50 per share proposed for 2014 and 2015
- First-quarter 2015 results in line with expectations
E.ON's transformation is the main topic at the company's Annual
Shareholders Meeting in Essen, Germany. Supervisory Board Chairman Werner
Wenning and CEO Johannes Teyssen updated shareholders on the status of the
project to divide the company into the future E.ON and a new company,
Uniper. Starting in 2016, E.ON will focus on renewables, energy networks,
and customer solutions, whereas Uniper will operate a conventional energy
business consisting of conventional power generation (including hydro) and
global energy trading. Johannes Teyssen will remain CEO of E.ON, which will
be headquartered in Essen. Uniper will be led by current E.ON CFO Klaus
Schäfer and have its headquarters in Düsseldorf.
Werner Wenning said: "Timely decisions about the composition of both
leadership teams, the two companies' headquarters, and the new company's
name put us right on schedule. E.ON's transformation is making swift
progress. During this transition phase, it's an important signal to our
shareholders that the dividend for the 2014 and 2015 financial years will
be stable at EUR0.50 per share."
Johannes Teyssen said: "By transforming E.ON we've seized the initiative.
Thanks to their sharply focused business profiles and proven strengths,
E.ON and Uniper have good prospects for success in their respective energy
worlds. Remaining an integrated utility would cause us to miss many
opportunities. The new setup puts both companies in the best position to
create value."
E.ON finished 2014 with EBITDA of EUR8.3 billion and underlying net income
of EUR1.6 billion. Figures were down year on year but within the
anticipated range. Declining power and oil prices, a warm winter, and
adverse currency-translation and disposal effects were the main negative
factors. Earnings were positively impacted by the successful E.ON 2.0
efficiency-enhancement program and by higher earnings at the Renewables
segment, particularly in its wind and solar business.
Johannes Teyssen said: "We already know that 2015 won't be easy. But the
commissioning of four large new generation assets now and in the months
ahead will enhance our business performance. The hard-coal-fired generating
unit at Maasvlakte power station in Rotterdam is already producing
electricity, as are Humber Gateway and Amrumbank West offshore wind farms
in the U.K. and German North Sea. And we're looking forward to a new,
technologically advanced 800 megawatt generating unit becoming operational
this summer near Krasnoyarsk, Russia. Our sales business has continued its
positive development: in 2014 more than 60,000 new retail customers in
Germany chose E.ON. We view our roughly 32 million customers as our
partners whom we provide advice in finding the energy solution that's right
for them."
At this year's Annual Shareholders Meeting E.ON also presented its
first-quarter results. E.ON's EBITDA declined by 9 percent relative to the
year-earlier quarter, its underlying net income by 15 percent. The
Generation segment's earnings were negatively affected by overhaul work at
a number of nuclear power stations and by the sale and decommissioning of
fossil-fueled power plants. Lower prices for oil, gas, and condensates had
a significant adverse impact on earnings at the Exploration & Production
segment. EBITDA declined at the Renewables segment as well owing to lower
wholesale power prices (which primarily affected its hydro business) and
structural changes in the wind and solar business resulting from the
company's build-and-sell strategy. By contrast, earnings at the sales and
network business of E.ON's Germany and Other EU Countries segments were
stable to higher. The Global Commodities segment also recorded a
significant earnings increase. E.ON's power sales were unchanged relative
to the prior-year period, whereas its gas sales were markedly higher due to
the colder winter.
CFO Klaus Schäfer said: "We continue to expect our full-year 2015 EBITDA to
be between EUR7 and EUR7.6 billion and our underlying net income to be
between EUR1.4 and EUR1.8 billion. The negative trend in oil prices and
exchange rates slowed in the first quarter, but we continue to anticipate
adverse factors as the year moves forward. By contrast, we expect our
business in Germany to improve for the year as a whole."
Today E.ON also published its online Sustainability Report, which contains
key facts about the company's sustainability efforts along its entire value
chain. For example, E.ON reduced its carbon emissions in Europe by 16
percent, from 114 million metric tons in 2013 to 96 million metric tons in
2014.
The Sustainability Report can be found at:
http://www.eon.com/en/sustainability.html
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07.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: E.ON SE
E.ON-Platz 1
40479 Düsseldorf
Germany
Phone: +49 (0)211 4579-0
Fax: +49 (0)211 45 79-5 01
E-mail: investorrelations@eon.com
Internet: www.eon.com
ISIN: DE000ENAG999
WKN: ENAG99
Indices: DAX, EURO STOXX 50
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Hanover, Munich, Stuttgart;
Terminbörse EUREX; Mailand
End of News DGAP News-Service
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354231 07.05.2015
DGAP-News: E.ON SE: 2015 E.ON Annual Shareholders Meeting
| Source: EQS Group AG