EQS-News: E.ON continues growth course with investments in the energy transition

E.ON continues growth course with investments in the energy transition

• Growth strategy continued: E.ON increases investments in the first nine months of 2025 to €5.1 billion (9M 2024: €4.7 billion)
• Earnings surpass prior year: adjusted Group EBITDA rises to €7.4 billion (9M 2024: €6.7 billion), adjusted Group net income to €2.3 billion (9M 2024: €2.2 billion)
• 2025 guidance confirmed: adjusted Group EBITDA of €9.6 to €9.8 billion and adjusted Group net income of €2.85 to €3.05 billion expected

E.ON continued its positive business performance in the first nine months of fiscal year 2025, increasing both adjusted Group EBITDA and adjusted Group net income compared with the prior-year period. This growth was driven mainly by the company’s sustained strong operating performance and systematic investments in the energy transition.

Nadia Jakobi, CFO of E.ON: “Our strategy of investing massively to modernize and digitalize energy infrastructure is paying off. We continue to grow and our role as the playmaker of the energy transition enables us to make a decisive contribution to the sustainable transformation of Europe’s energy system. Our nine-month results confirm that we are on track to achieve our ambitious full-year targets.”

Earnings growth driven by investments in network infrastructure; Guidance confirmed

E.ON increased adjusted Group EBITDA by 10 percent to €7.4 billion in the first nine months of fiscal year 2025 (9M 2024: €6.7 billion). Despite higher depreciation and increased financial expenses, adjusted Group net income increased as well, rising by 4 percent to €2.3 billion (9M 2024: €2.2 billion). E.ON reaffirms its guidance for full-year 2025 and continues to expect adjusted Group EBITDA of €9.6 to €9.8 billion and adjusted Group net income of €2.85 to €3.05 billion.

In Energy Networks, adjusted EBITDA rose by 18 percent to €5.6 billion (9M 2024: €4.8 billion). This positive performance was primarily driven by increased investments to expand, modernize, and digitalize network infrastructure. These investments lay the foundation for a highly effective, sustainable, and future-oriented network infrastructure in Europe. In addition, slightly higher-than-expected distributed volume in Germany had a positive impact on earnings, particularly in the first half of the year. Weather-driven increases in distributed volume along with catch-up effects relating to previously incurred costs for network losses yielded additional earnings in the Central and South Eastern Europe segments.

In Energy Retail, adjusted EBITDA declined by 18 percent to €1.4 billion (9M 2024: €1.7 billion). A positive operating performance was adversely impacted by effects primarily in the United Kingdom and Germany. In the United Kingdom, a change in the customer portfolio, resulting in part from a higher proportion of customers with fixed-price contracts, led to lower earnings. In Germany, temporary effects had a negative impact on earnings, partly due to the timing shift of aperiodic results. Weather effects positively influenced earnings in almost all countries in the first nine months, as the prior-year period was characterized by generally warmer temperatures.

In Energy Infrastructure Solutions, adjusted EBITDA rose by 15 percent to around €400 million (9M 2024: around €350 million). Favorable weather effects, improved asset availability in Scandinavia and the United Kingdom, the commissioning of new projects, and the continued rollout of smart meter infrastructure in the United Kingdom were key contributors to earnings growth.

E.ON continues investments in the energy transition as planned

In the first nine months of the year, E.ON invested €5.1 billion in the transformation of the energy system in Europe, a year-over-year increase of 8 percent (9M 2024: €4.7 billion).

Most of E.ON’s investments – €4.1 billion – went toward its network business. This represents a year-over-year increase of 15 percent. The focus was primarily on expanding and modernizing infrastructure. In addition, E.ON is driving forward the standardization and digitalization of its distribution grids. In July, E.ON commissioned the 10,000th digital secondary substation in its German network business, in accordance with the new Group standard. These digital secondary substations make it possible to optimize local network capacity, integrate more renewables into the grid, and at the same time manage flexibility.

Investments in Energy Retail totaled roughly €320 million (9M 2024: €390 million). They mainly went toward the further expansion of electric vehicle charging infrastructure across Europe, the range of flexibility solutions and tariffs for customers, and the enhancement of digital customer offerings.

Energy Infrastructure Solutions invested around €580 million (9M 2024: around €670 million), primarily to support B2B customers with sustainable energy solutions to advance their decarbonization efforts.

“Our investments to date reinforce our goal of investing around €8.6 billion in the energy transition this fiscal year,” CFO Nadia Jakobi said. “The energy transition will continue to require billions in private capital in the coming years. A prerequisite for this is the right overall regulatory framework. Only if returns on capital and efficiency methods, in particular, are competitive in the final proposal for the fifth regulatory period for electricity in Germany will we be able to mobilize the necessary capital to systematically propel network expansion. The German government's current monitoring report on the energy transition clearly shows how great the need for network expansion and modernization remains.”

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.