E.ON off to a positive start in 2012, anticipates €2.7 billion FY income

E.ON’s sales rose by 28 percent year on year to €35.7 billion, owing in particular to higher sales in the Optimization & Trading segment. This was primarily the result of an increase in trading activity to optimize E.ON’s generation fleet. The Renewables, Germany, and Russia segments also posted higher sales. Sales were significantly lower in the Generation segment due to the absence of output from nuclear power stations in Germany that were mandatorily shut down in 2011.

E.ON’s first-quarter investments in property, plant, and equipment, intangible assets, and shareholdings totaled €1.2 billion, roughly the same as the prior-year figure.

Operating cash flow declined by 51 percent year on year to roughly €450 million. Positive effects from the EBITDA increase and a decline in working capital were more than offset by significant withholding taxes which E.ON expects to be refunded in the second half of the year...
E.ON off to a positive start in 2012, anticipates €2.7 billion FY income