Ad hoc Announcement: E.ON reaches settlement with Gazprom on long-term gas supply contracts and raises Group outlook for 2012


E.ON and Gazprom have reached an agreement in the negotiations of their long-term gas supply contracts. The settlement includes an retroactive adaptation of pricing conditions for the price review period since Q4/2010. E.ON expects the settlement to have a positive impact of about €1 bn on the Group's half-year results.

In connection with the settlement reached with Gazprom, E.ON has also raised its outlook for 2012. For the full year 2012 E.ON now expects an EBITDA between €10.4 and 11.0 bn (until now: €9.6 to 10.2 bn) and an underlying net income between €4.1 and 4.5 bn (until now: €2.3 to 2.7 bn). Apart from the higher EBITDA, one-off effects on taxes and net interest expenses as well as a generally lower tax rate have a positive impact on group earnings.

E.ON AG E.ON-Platz 1, 40479 Düsseldorf, Deutschland / Germany

Indices: DAX, EURO STOXX 50

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- End of ad hoc announcement - 03 July 2012