Germany
energy company E.On AG said
Wednesday that 2009 net income rose sharply to (EURO)8.4 billion ($11.4
billion) partly as a result of the disposal of assets.
E.On, based in Duesseldorf,
earned (EURO)1.3 billion in 2008. Revenue fell 6 percent to (EURO)82 billion in
2009 from (EURO)87 billion in 2008. It did not break out fourth quarter figures.
One of the world's
largest energy companies, E.On said it sold some generating capacity and a
German high-voltage network during the year, which resulted in a gain of
(EURO)2.4 billion.
The 2010 earnings
before interest and taxes after special items could be up to 3 percent higher
than the (EURO)9.6 billion it earned in 2009, the company said.
The central
Europe
business improved on
efficiency measures, higher network charges, and the inclusion of results from
a new French unit, E.On said. It posted an EBIT increase to (EURO)4.8 billion
from (EURO)3.8 billion in 2008.
The company said its
U.S. Midwest business' 2009 EBIT of (EURO)348 million was slightly lower than
2008 levels because volumes and prices declined.
The Pan-European Gas
business saw a 33 percent decline in EBIT due to the recession which affected
demand and lowered transport charges, the company said.
In the
U.K.
and the Nordic regions, E.On's EBIT fell about 30 percent. In the
U.K.
, the results were weaker partly because of lower gas transfer prices,
while in the Nordic region, E.On saw lower nuclear and hydroelectric power
sales.
E.On shares were
nearly unchanged at (EURO)26.84 in
Frankfurt
morning trading.
(from
the
Taiwan
Times)