German utility E.ON AG (EOAN.XE) Tuesday said it expects its renewable
energies unit to contribute around EUR300 million to the company's adjusted
earnings before interest and taxes in 2010.
According to the slides of a presentation by Chief Financial Officer Marcus
Schenck at an investment conference in
New
York
, E.ON expects the renewables operations to
contribute that amount "despite depressed
U.S.
wholesale [electricity] prices".
E.ON also said it expects between EUR200 million and EUR250 million in adjusted
EBIT to be generated by its stake in the western Siberian natural gas field
Yuzhno Russkoye in 2010.
In the presentation, the company didn't comment on its expectations for the
group's 2010 adjusted EBIT earnings target. Previously, however,
Duesseldorf-based E.ON said it targets 2010 adjusted EBIT to come in at around
EUR11 billion before stripping out assets that have or will be sold.
E.ON plans to divest assets worth at least EUR10 billion by the end of 2010. So
far it has sold assets worth around EUR6 billion.
E.ON is
due to report its 2009 results March 10.