E.ON said on Wednesday that its sales in the second quarter of 2023 amounted to €18.8 billion, falling by 19% compared to the same period in 2022.
Net income declined 17% year on year to €1.3 billion, while earnings per share plunged 20% to €0.44. Adjusted EBITDA surged 50% to €2.95 billion. In the first half of 2023, the electric utility company's sales declined 1% to €52.4 billion, while EPS slid 52% to €0.42. The company raised its full-year guidance for fiscal 2023, projecting its adjusted EBITDA to range between €8.6 and €8.8 billion, with net income expected to move between €2.7 to €2.9 billion.
"We're going to pass on the declining wholesale power and gas prices of the recent months to millions of our customers by lowering prices. This will have an adverse financial impact on our earnings in the second half of 2023," CFO Marc Spieker said.
