Regards: 2009 Outlook, 2010 Target, Dividend


  • 2009 outlook: adjusted EBIT at prior-year level, adjusted net income to decline by around 10 percent
  • 2010 target: adjusted EBIT to increase by around 10 percent to 11 billion euros
  • Dividend: management to propose 1.50 euros dividend per registered share for 2008, payout ratio remains between 50 to 60 percent of adjusted net income

At its meeting today, the E.ON AG Board of Management, after consultation with the Supervisory Board, adjusted the outlook for E.ON’s future business development. For the 2009 financial year, E.ON currently expects adjusted EBIT to match the high prior-year level. The main adverse factors are anticipated lower electricity and gas sales volume due to the economic crisis, a price-driven narrowing of upstream gas margins, effects from the regulation of electricity and gas networks in Germany, and currency-translation effects. The positive factors include improved margins in electricity generation. E.ON expects adjusted net income to decline by around 10 percent relative to the prior year due to higher interest expenses resulting from increased indebtedness. For the dividend for 2009 financial year, E.ON intends to stand by its current payout ratio of 50 to 60 percent of adjusted net income. For the 2010 financial year, E.ON thinks it is possible—from today’s perspective and based on its current portfolio—to increase adjusted EBIT by around 10 percent to about 11 billion euros. In May 2007, the company had expected to increase 2010 adjusted EBIT to 12.4 billion euros. The following represents the main changes compared with the company’s assumptions from May 2007: anticipated positive effects from wider margins in the power generation business will be partially mitigated by anticipated lower electricity and gas sales volume due to the economic crisis, adverse effects from the regulation of electricity and gas networks in Germany, negative currency-translation effects, and lower anticipated earnings contributions from the company’s new market units.

E.ON AG E.ON-Platz 1 40479 Düsseldorf Deutschland / Germany ISIN: DE000ENAG999 (DAX) WKN: ENAG99 Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München und Stuttgart; Eurex;

- End of ad hoc announcement – March 9, 2009