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

Executive summary

• Fiscal 2025 concluded with adjusted Group EBITDA of EUR 9.8 billion, up 9% year-over-year, at the upper end of guidance, and adjusted Group net income rose to EUR 3 billion.

• Investments reached EUR 8.5 billion, primarily in Energy Networks, supporting rapid infrastructure expansion and Europe's energy transition.

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

• E.ON connected 70% of onshore wind and nearly 50% of solar capacity to its German grids by end-2025, integrating the two-millionth renewable energy plant.

• Significant progress in digitalization, smart substations, and smart meter rollout, with an average rollout rate of 30% in Germany, surpassing statutory requirements.

Financial highlights

• Adjusted Group EBITDA: EUR 9.8 billion (2025), up 9% year-over-year and at the upper end of guidance.

• Adjusted Group net income: EUR 3 billion (2025), up 6% year-over-year.

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

• Investments reached EUR 8.5 billion, with EUR 7 billion allocated to network business.

• Year-end debt ratio at 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.

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

• By 2030, adjusted Group EBITDA projected at EUR 13 billion, net income at EUR 3.8 billion, and EPS at EUR 1.45.