Our finance strategy focuses on E.ON’s capital structure. Ensuring that E.ON has unrestricted access to capital markets is at the forefront of this strategy.
With our target capital structure we aim to sustainably secure a strong BBB/Baa rating.
We manage E.ON’s capital structure using our debt factor, which is equal to our economic net debt divided by adjusted EBITDA; it is therefore a dynamic debt metric. Economic net debt includes not only our financial liabilities but also our provisions for pensions and asset-retirement obligations.
E.ON aims to reduce the debt factor to around 5 over the medium term.