Germany's E.ON to invest $30 billion by 2026

  • 11/23/2021
  • 00:00
  • 3
  • 0
  • 0
news-picture

FRANKFURT, Nov 22 (Reuters) - German energy firm E.ON (EONGn.DE) plans to invest about 27 billion euros ($30 billion) in its core business, including networks and retail energy, by 2026, it said on Monday. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for its core business is expected to reach 7.8 billion euros in 2026, Europe"s largest operator of energy networks said a day ahead of its capital markets day. This, E.ON said, would represent a compound annual growth rate of about 4% from 2021 to 2026. The investment programme comes a week after RWE (RWEG.DE), Germany"s largest power producer, mapped out a 50 billion euro spending push to expand its renewables capacity as Europe"s energy firms accelerate their green power ambitions. read more E.ON also proposed to pay a dividend of 0.49 euros per share for 2021, up from 0.47 euros for 2020, and in line with the Refinitiv consensus. Its current dividend policy, which foresees an annual growth rate of up to 5%, will be extended by three years until 2026, it said. ($1 = 0.8883 euros)

مشاركة :