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The E.ON company has announced further substantial investments in the energy transition

From 2024 through 2028, the Group plans to invest €42 billion in Europe’s energy transition and thus in a secure, competitive, and sustainable energy system. About 70% of the investments will be made in German

E.ON consistently continued its successful growth path in 2023. Both of the Group’s business areas—Energy Networks and Customer Solutions—delivered full-year results that were significantly above prior-year level. E.ON will boost its future growth by again expanding its mid-term investment plan by about 30 percent relative to its previous five-year plan. From 2024 through 2028, the Group plans to invest €42 billion in Europe’s energy transition and thus in a secure, competitive, and sustainable energy system. About 70 percent of the investments will be made in Germany.

CEO Leonhard Birnbaum affirmed at today’s annual press conference: “We again defied challenging circumstances in the financial year 2023. And we again delivered very good results that exceeded our expectations. For this, we owe our employees a big thank you. This result is proof of our operating performance and the success of our investment and growth strategy. It also shows that we increasingly benefit from our consistent strategic focus on energy networks and sustainable energy infrastructure and customer solutions. This makes E.ON one of the leading companies for the energy transition in Europe.”

Birnbaum spoke positively about E.ON’s future business outlook: “What Europe needs now is intelligent energy infrastructure for sustainable, secure, and affordable energy. This is exactly what E.ON delivers, and we continue to systematically pursue this course. This means that we will continue to make massive investments to meet the rapidly growing demand for energy infrastructure. But it also means that we’re leading the way where others are hesitating. Playing a pioneering role in the energy transition makes E.ON strong.”

E.ON surpasses earnings expectations and aims for additional growth.

CFO Marc Spieker said: “E.ON looks back on a strong financial year 2023, in which we grew in almost all European markets. The outlook for the years ahead is very promising as well. Our network business is a growth business that is in the focus of attention for policymakers, the public, and investors. Our energy networks are system-critical for the energy transition, and we’ve again proven that we can successfully and cost-efficiently expand them. In view of Europe’s energy and climate targets, we expect our business with sustainable customer and energy infrastructure solutions to generate significant earnings growth in the medium term.”

Energy Networks delivered the largest share of Group earnings. The segment’s adjusted EBITDA of €6.6 billion represents a €1.2 billion year-over-year increase. Higher investments in E.ON’s growing network infrastructure were a key driver of this positive development. This ensures that the company can continually connect renewables, heat pumps, and charging infrastructure and give customers across Europe access to sustainable energy. In 2023, E.ON added more than half a million new connections to its distribution networks. Alongside higher investments, the recovery of the energy market environment had a positive impact on the network business. This led to a significant reduction in costs for redispatch in Germany. This temporary relief will be passed through to customers in network fees in the years ahead.


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