Ad hoc Announcement: E.ON posts an impairment charge
In accordance with IAS 36, E.ON is required to carry out impairment tests on a regular basis or for specific reasons. In connection with the preparation of 2011 annual report, E.ON has identified a group wide impairment charge of approximately EUR3 billion. In Italy and Spain a more pessimistic view on long-term power prices, regulatory interventions and reduced load hours for gas and coal power stations, lead to a total impairment charge of EUR2.1 billion, mainly on spread generation assets in both countries. Further impairment charge has been identified in Hungary and Slovakia with respect to spread generation assets as well as in Central Europe, mainly in Benelux. The impairments reduce the Group’s net income. There is no impact on adjusted EBIT and adjusted Group net income (assessment basis for dividend payments). Furthermore, the impairments are not cash effective either.
E.ON AG E.ON-Platz 1 40479 Düsseldorf Deutschland / Germany ISIN: DE000ENAG999 WKN: ENAG99
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