E.ON (EOAN) Q4 2025 (Media) earnings summary

Executive summary

• Fiscal 2025 concluded with adjusted EBITDA of EUR 9.8 billion, up 9% year-over-year, and adjusted Group net income rising 6% to EUR 3 billion, fully meeting guidance.

• EPS reached EUR 1.16, exceeding the prior year.

• Investments surged to EUR 8.5 billion, primarily in Energy Networks, supporting rapid infrastructure expansion and energy transition.

• Strong operational performance was driven by network expansion, digitalization, and new customer solutions.

• E.ON remains a key player in Europe's energy transition, connecting a significant share of renewable capacity to its grids.

Financial highlights

• Adjusted EBITDA: EUR 9.8 billion (+9% YoY), at the upper end of guidance.

• Adjusted Group net income: EUR 3 billion (+6% YoY).

• Dividend proposed at EUR 0.57 per share, a 4% increase year-over-year.

• Investments reached EUR 8.5 billion, with EUR 7 billion allocated to network business (+20% YoY).

• Debt ratio at year-end was 4.4, below the upper limit of 5.

Outlook and guidance

• For 2026, adjusted Group EBITDA expected between EUR 9.4–9.6 billion; adjusted net income EUR 2.7–2.9 billion; EPS EUR 1.03–1.11.

• Medium-term plan targets EUR 48 billion investment (2026–2030), with EUR 40 billion for Energy Networks.

• By 2030, adjusted EBITDA expected to rise to EUR 13 billion, net income to EUR 3.8 billion, and EPS to EUR 1.45.