Buy Or Sell Opportunity • Apr 30
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.1% to €18.81. The fair value is estimated to be €15.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 49%. For the next 3 years, revenue is forecast to grow by 2.6% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Duyuru • Apr 25
E.ON SE Approves the Election of Supervisory Board Members E.ON SE announced that Helene von Roeder, member of the Executive Board and Chief Financial Officer of Merck, and Dr. Dominik von Achten, Chairman of the Managing Board of Heidelberg Materials, were both elected to the E.ON SE Supervisory Board for the first time at the Annual General Meeting on April 23, 2026. Upcoming Dividend • Apr 17
Upcoming dividend of €0.57 per share Eligible shareholders must have bought the stock before 24 April 2026. Payment date: 28 April 2026. Payout ratio is on the higher end at 86% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (3.9%). Buy Or Sell Opportunity • Mar 30
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to €18.92. The fair value is estimated to be €15.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 49%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Buy Or Sell Opportunity • Mar 10
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to €19.18. The fair value is estimated to be €15.55, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has grown by 49%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Duyuru • Mar 10
E.ON SE, Annual General Meeting, Apr 23, 2026 E.ON SE, Annual General Meeting, Apr 23, 2026, at 10:00 W. Europe Standard Time. New Risk • Mar 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). New Risk • Mar 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.9% Last year net profit margin: 5.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.6x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.9% net profit margin). Duyuru • Feb 27
E.ON SE Proposes Dividend for Fiscal Year 2025 E.ON SE announced Management Board and Supervisory Board will propose to the Annual General Meeting an increase in the dividend to 57 cents per share for fiscal year 2025. This represents a 4 % increase compared with the previous year. Reported Earnings • Nov 14
Third quarter 2025 earnings released: €0.02 loss per share (vs €0.037 profit in 3Q 2024) Third quarter 2025 results: €0.02 loss per share (down from €0.037 profit in 3Q 2024). Revenue: €16.3b (down 4.5% from 3Q 2024). Net loss: €51.0m (down 153% from profit in 3Q 2024). Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 18
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €16.1b (up 39% from 2Q 2024). Net income: €440.0m (down 75% from 2Q 2024). Profit margin: 2.7% (down from 15% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 02
Innogy Energo, S.R.O. acquired 32 CNG stations in Czechia from E.ON SE (XTRA:EOAN). Innogy Energo, S.R.O. acquired 32 CNG stations in Czechia from E.ON SE (XTRA:EOAN) on July 1, 2025.
Innogy Energo, S.R.O. completed the acquisition of 32 CNG stations in Czechia from E.ON SE (XTRA:EOAN) on July 1, 2025. Reported Earnings • May 16
First quarter 2025 earnings released: EPS: €0.20 (vs €0.22 in 1Q 2024) First quarter 2025 results: EPS: €0.20 (down from €0.22 in 1Q 2024). Revenue: €28.6b (flat on 1Q 2024). Net income: €529.0m (down 9.4% from 1Q 2024). Profit margin: 1.9% (down from 2.0% in 1Q 2024). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Upcoming Dividend • May 09
Upcoming dividend of €0.55 per share Eligible shareholders must have bought the stock before 16 May 2025. Payment date: 20 May 2025. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 3.5%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (5.2%). Duyuru • Apr 28
E.ON SE to Report Q1, 2025 Results on May 14, 2025 E.ON SE announced that they will report Q1, 2025 results at 7:00 AM, Central European Standard Time on May 14, 2025 Buy Or Sell Opportunity • Apr 04
Now 20% undervalued Over the last 90 days, the stock has risen 21% to €14.00. The fair value is estimated to be €17.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Earnings per share has declined by 36%. For the next 3 years, revenue is forecast to grow by 2.8% per annum. Earnings are forecast to decline by 4.6% per annum over the same time period. Declared Dividend • Mar 29
Dividend increased to €0.55 Dividend of €0.55 is 3.8% higher than last year. Ex-date: 16th May 2025 Payment date: 20th May 2025 Dividend yield will be 4.0%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (32% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 15% over the next 3 years. However, it would need to fall by 65% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 28
Full year 2024 earnings released: EPS: €1.74 (vs €0.17 in FY 2023) Full year 2024 results: EPS: €1.74 (up from €0.17 in FY 2023). Revenue: €93.5b (down 1.6% from FY 2023). Net income: €4.53b (up €4.08b from FY 2023). Profit margin: 4.8% (up from 0.5% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 2.9% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Duyuru • Dec 18
MVM Energetika Zártköruen Muködo Részvénytársaság entered into a sale and purchase to acquire 68% stake in E.ON Energie România S.A. from E.ON SE (XTRA:EOAN). MVM Energetika Zártköruen Muködo Részvénytársaság entered into a sale and purchase to acquire 68% stake in E.ON Energie România S.A. from E.ON SE (XTRA:EOAN) on December 16, 2024. Under the agreement, MVM Zrt. will purchase E.ON’s 68% share in E.ON Energie Romania and its 98% share in E.On Asist Complet S.A. All operational activities of E.ON Energie Romania and E.ON Asist Complet will be carried out as usual, their partners and customers will continue to receive seamless, high quality services in the future as well. The aim of MVM Group is to maintain and further develop the stability and future prospects of the business.
The transaction which is subject to necessary approvals is expected to close in the first half of 2025. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: €0.037 (vs €0.034 in 3Q 2023) Third quarter 2024 results: EPS: €0.037 (up from €0.034 in 3Q 2023). Revenue: €17.1b (flat on 3Q 2023). Net income: €96.0m (up 6.7% from 3Q 2023). Profit margin: 0.6% (up from 0.5% in 3Q 2023). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. New Risk • Aug 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: €0.68 (vs €0.44 in 2Q 2023) Second quarter 2024 results: EPS: €0.68 (up from €0.44 in 2Q 2023). Revenue: €18.9b (flat on 2Q 2023). Net income: €1.77b (up 52% from 2Q 2023). Profit margin: 9.3% (up from 6.1% in 2Q 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. New Risk • May 24
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 38% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 117% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results. Reported Earnings • May 23
First quarter 2024 earnings released: EPS: €0.22 (vs €0.055 loss in 1Q 2023) First quarter 2024 results: EPS: €0.22 (up from €0.055 loss in 1Q 2023). Revenue: €27.2b (down 20% from 1Q 2023). Net income: €584.0m (up €727.0m from 1Q 2023). Profit margin: 2.2% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • May 18
Now 21% undervalued Over the last 90 days, the stock has risen 8.1% to €12.75. The fair value is estimated to be €16.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 38%. For the next 3 years, revenue is forecast to decline by 0.8% per annum. Earnings are forecast to grow by 21% per annum over the same time period. Duyuru • May 16
E.ON SE to Report Fiscal Year 2024 Results on Feb 26, 2025 E.ON SE announced that they will report fiscal year 2024 results on Feb 26, 2025 Upcoming Dividend • May 10
Upcoming dividend of €0.53 per share Eligible shareholders must have bought the stock before 17 May 2024. Payment date: 21 May 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.1%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (5.5%). Buy Or Sell Opportunity • Apr 03
Now 20% undervalued Over the last 90 days, the stock has risen 4.5% to €12.82. The fair value is estimated to be €16.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 38%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: €0.17 (vs €0.70 in FY 2022) Full year 2023 results: EPS: €0.17 (down from €0.70 in FY 2022). Revenue: €95.0b (down 19% from FY 2022). Net income: €456.0m (down 75% from FY 2022). Profit margin: 0.5% (down from 1.6% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Mar 15
Now 20% undervalued Over the last 90 days, the stock has risen 1.7% to €12.70. The fair value is estimated to be €15.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Meanwhile, the company became loss making. Declared Dividend • Mar 15
Dividend increased to €0.53 Dividend of €0.53 is 3.9% higher than last year. Ex-date: 17th May 2024 Payment date: 21st May 2024 Dividend yield will be 4.1%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (60% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Duyuru • Feb 29
E.ON SE to Report Q4, 2023 Results on Mar 13, 2024 E.ON SE announced that they will report Q4, 2023 results at 7:00 AM, Central European Standard Time on Mar 13, 2024 Buying Opportunity • Nov 06
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €14.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 3.6% per annum. Earnings is forecast to grow by 9.2% per annum over the same time period. Buying Opportunity • Sep 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.5%. The fair value is estimated to be €14.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 3.8% per annum. Earnings is forecast to grow by 9.4% per annum over the same time period. Buying Opportunity • Sep 04
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €14.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings is forecast to grow by 9.7% per annum over the same time period. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: €0.44 (vs €0.55 in 2Q 2022) Second quarter 2023 results: EPS: €0.44 (down from €0.55 in 2Q 2022). Revenue: €19.1b (down 19% from 2Q 2022). Net income: €1.16b (down 19% from 2Q 2022). Profit margin: 6.1% (in line with 2Q 2022). Revenue is expected to fall by 3.3% p.a. on average during the next 3 years compared to a 1.5% decline forecast for the Integrated Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Jul 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 22% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks High level of debt (124% net debt to equity). Dividend is not well covered by earnings (154% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Shareholders have been diluted in the past year (22% increase in shares outstanding). Duyuru • May 19
E.On Reportedly Seeks to Offload Industrial Power Division E.ON SE (XTRA:EOAN) is looking for buyers for its UK business that sells energy to factories and other industries. The company follows Centrica and Scottish Power in planning to end supplying big businesses as wholesale energy prices surge, Bloomberg reported. High gas and electricity prices have sent dozens of energy companies out of business in the UK as wholesale costs rise while customers enjoy fixed tariffs. An E.On spokesman said: "We do not comment on speculation. Our focus is on serving our customers during the current market volatility with appropriate products and services". E.On bought Npower from fellow German utility RWE in 2020. Reported Earnings • May 13
First quarter 2023 earnings released: €0.055 loss per share (vs €0.32 profit in 1Q 2022) First quarter 2023 results: €0.055 loss per share (down from €0.32 profit in 1Q 2022). Revenue: €51.6b (up 74% from 1Q 2022). Net loss: €143.0m (down 117% from profit in 1Q 2022). Revenue is forecast to decline by 1.0% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 11
Upcoming dividend of €0.51 per share at 4.2% yield Eligible shareholders must have bought the stock before 18 May 2023. Payment date: 22 May 2023. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of British dividend payers (5.8%). Lower than average of industry peers (5.4%). Reported Earnings • Nov 19
Third quarter 2022 earnings released: EPS: €0.60 (vs €0.47 in 3Q 2021) Third quarter 2022 results: EPS: €0.60 (up from €0.47 in 3Q 2021). Revenue: €67.7b (up 346% from 3Q 2021). Net income: €1.56b (up 26% from 3Q 2021). Profit margin: 2.3% (down from 8.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 3.6% p.a. on average during the next 3 years, while revenues in the Integrated Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: €0.55 (vs €0.67 in 2Q 2021) Second quarter 2022 results: EPS: €0.55 (down from €0.67 in 2Q 2021). Revenue: €23.5b (up 59% from 2Q 2021). Net income: €1.43b (down 18% from 2Q 2021). Profit margin: 6.1% (down from 12% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 18% compared to a 2.5% decline forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth.