E.ON continues renewables investment as it records slight drop in sales in 2009

10 March 2010

Energy group E.ON said it continued to invest in renewables through large-scale wind-farm projects in the US and its first solar projects during 2009 despite recording a six per cent drop in sales.

E.ON’s adjusted EBITDA of €13.5bn was about one per cent up on the prior-year figure, while its adjusted EBIT of €9.6bn was down by just over two per cent.

Sales were down by six per cent to slightly less than €82bn, due to lower prices in the gas wholesale business, foreign exchange rates and lower generation from its nuclear and hydro assets.

It said it dropped its overall investments during the year from 2007 and 2008 levels, to €9.2bn, but continued its strong investments in renewables sector.

The company said its 2010 forecast is subject to uncertainties similar to those that hampered its 2009 predictions.

E.ON said it expects its 2010 adjusted EBIT to be up to three per cent above the prior-year level and its 2010 adjusted net income to be in line with the prior year.

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Tags: energy

This story was published on Wednesday, March 10th, 2010 at 6:52 pm and is filed under Europe, companies, solar, water, wind. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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