E.ON remains on track and continues to invest in the energy transition

E.ON remains on track and continues to invest in the energy transition

• Adjusted Group EBITDA rises to €5.4 billion (H1 2025: €5.3 billion), adjusted Group net income to €1.9 billion (H1 2025: €1.8 billion)
• Investments of €3 billion strengthen Europe’s energy transition and infrastructure in the first six months
• Full-year 2026 guidance confirmed: adjusted Group EBITDA of €9.4 to €9.6 billion, adjusted Group net income of €2.7 to €2.9 billion expected

E.ON continued its positive performance in the first half of 2026, delivering earnings above the prior-year level. Key drivers were once again the company’s investment-led growth and the strong operational performance of its businesses. In a market environment that remains challenging, E.ON is well positioned and confirms its guidance for the current fiscal year.

“E.ON once again delivered a reliable performance in the first half of 2026. Our results show that our strategy is working. We continue to invest at scale and at pace in the energy infrastructure of the future. In doing so, we are creating the conditions needed to make the energy transition work for our customers while keeping it affordable,” said Leonhard Birnbaum, CEO of E.ON SE.

Adjusted Group EBITDA increased by 1 percent to €5.4 billion in the first half of 2026 (H1 2025: €5.3 billion). Adjusted Group net income rose by 5 percent to €1.9 billion (H1 2025: €1.8 billion). For full-year 2026, E.ON continues to expect adjusted Group EBITDA of €9.4 to €9.6 billion and adjusted Group net income of €2.7 to €2.9 billion, corresponding to adjusted earnings per share of €1.03 to €1.11.

“The first half of the year confirms the strength and resilience of our business model. Thanks to our strong operational and financial performance, we are able to reaffirm our full-year guidance. We are also continuing to invest systematically, laying the foundation for further growth and a future-ready European energy infrastructure,“ said E.ON CFO Nadia Jakobi.

Business divisions perform according to plan

As anticipated, Energy Networks delivered a generally stable performance in the first half of the year. Adjusted EBITDA of more than €3.8 billion was slightly above the prior-year level (H1 2025: €3.8 billion). Substantial investments in network expansion and modernization again constituted the main driver. Positive contributions came from both Germany and E.ON’s European markets, particularly Central and South Eastern Europe. The ongoing expansion of the smart meter business in Germany positively affected earnings as well. Expenditures related to sustainable growth measures as well as the deconsolidation of the NEW Group had an adverse effect.

Energy Infrastructure Solutions’ growth path continued in the first half of 2026. Adjusted EBITDA rose by 19 percent to about €390 million (H1 2025: about €330 million). Key growth drivers were the industrial customer business in Germany, supported by new projects coming online, as well as the pass-through of higher procurement costs from prior years.

Energy Retail also had a successful first half of the year. Adjusted EBITDA of €1.2 billion was, as anticipated, slightly below the prior-year level (H1 2025: €1.3 billion). This performance primarily reflects structural effects in Germany, including the NEW deconsolidation. Optimized customer-management processes had a positive impact. In the United Kingdom, positive contributions from energy efficiency measures and from the positive development of the residential customer business more than offset earnings declines resulting from the gradual expiration of legacy contracts with industrial and commercial customers.

Investments lay foundation for the next phase of the energy transition

E.ON invested a total of €3 billion in the first half of 2026. The main focus was on energy infrastructure, digitalization, and innovative customer solutions to support the electrification of the economy and society. Due to weather-related delays at the beginning of the year, investments were below the prior-year figure (H1 2025: €3.2 billion). These investments will be caught up over the remainder of the year. E.ON reaffirms its plan to invest around €8.7 billion in fiscal year 2026.

Energy Networks’ investments totaled around €2.3 billion (H1 2025: €2.5 billion). These investments focused primarily on new grid connections as well as the expansion and digitalization of distribution networks. In Germany alone, E.ON delivered more than 130,000 new connections in the first half of the year and integrated an additional more than 5 gigawatts of renewable generation capacity into its grids, equivalent to around 1,000 new wind turbines. In addition, the company continued to advance its smart meter rollout and invested in digital solutions to make more efficient use of existing grid capacity.

Energy Infrastructure Solutions invested roughly €360 million in the first half of the year (H1 2025: roughly €350 million). Investments were primarily directed towards the expansion of integrated energy solutions for cities, municipalities, and industrial customers. Key projects included battery storage systems, heating and district energy solutions, as well as investments in the smart meter business in the United Kingdom. Demand for decarbonization solutions remained at a high level.

Energy Retail increased its investments by 6 percent to about €240 million (H1 2025: about €220 million). They primarily went towards the digitalization of the customer business and the Europe-wide expansion of e-mobility charging infrastructure. E.ON continued to expand its public charging network and to advance the development and adoption of customer solutions that make the energy system more flexible and efficient. The main emphasis is on the smart integration of electric vehicles, battery storage systems, and heat pumps as well as innovative technologies like bidirectional charging. These flexibility solutions help integrate renewable energy more efficiently, make better use of existing infrastructure and limit the overall costs of the energy transition for all stakeholders.

“Demand for grid connections for battery storage systems, data centers, and electrified applications is growing dynamically across Europe. The next phase of the energy transition is about scaling the overall system intelligently and operating it more efficiently. High-performing networks, flexibility and digital solutions are becoming increasingly important. Our investments are laying the foundation for all of this while enabling us to capture the growth opportunities arising from the increasing electrification of the economy and society. Maintaining this pace of investment requires a reliable regulatory and policy framework,” Leonhard Birnbaum said.