E.ON met its 2024 earnings targets across all business segments, showcasing its leadership in driving Europe’s energy transition with record investments. The Group anticipates that the continued execution of its existing investment program will contribute to further earnings growth both in the current year and in the medium term. For the fiscal year 2024, E.ON reported adjusted Group EBITDA of €9.0 billion, at the upper end of its guidance range of €8.8 to €9.0 billion. However, this figure was lower than the previous year’s €9.4 billion, which had been boosted by positive one-off effects. The underlying EBITDA saw an increase of approximately €600 million year-over-year, driven by growth from investments and strong operational performance.
E.ON CEO Leonhard Birnbaum said: “In 2024, we delivered again. Strong Group earnings prove that our business model is robust even in an environment of political and macroeconomic uncertainty. Our investments of €7.5 billion set a new benchmark for our financial strength and operational performance. Since our reorganization, we’ve never invested so much. For this I’d like to say thank you to our employees. With our investments, we significantly contribute to making new energy work in Europe.”
Adjusted Group net income amounted to around €2.9 billion (2023: €3.1 billion), within the guidance range of €2.8 to €3.0 billion. As expected, earnings from Energy Retail declined, with adjusted EBITDA reaching €1.8 billion (2023: €2.3 billion), due to the absence of one-off positive effects in the mid-to-high triple-digit million euro range, and regulatory impacts in the UK.
E.ON CFO Nadia Jakobi commented: “Our strong earnings in fiscal year 2024 fully met our Group guidance, and we made additional operational progress. We worked hard to achieve this success, especially because, in many respects, 2024 was another challenging year. Our record investments played a crucial role in further propelling Europe’s energy transition, while also creating strong value for our shareholders. Both are and will remain our mission.”
Energy Infrastructure Solutions’ adjusted EBITDA remained consistent with the prior year, at around €560 million. One-off items from the previous year and lower sales volumes were largely offset by growth from investments, positive price effects, and improved asset availability in the United Kingdom.
