Sunday, November 30, 2014

Radical change: Eon says goodbye to nuclear, coal and gas – FAZ – Frankfurter Allgemeine Zeitung

Radical change: Eon says goodbye to nuclear, coal and gas – FAZ – Frankfurter Allgemeine Zeitung



          The entrance of the Eon headquarters in Dusseldorf


The guessed by the energy transition under pressure Eon is preparing a radical restructuring of the Group. The business of power generation from nuclear, coal and gas power plants and energy trade is mostly delivered in 2016 to the shareholders and brought the rest of the stock market, the company said on Sunday evening. The remaining group then consisted of the production of green electricity and the operation of the electricity and gas networks and distribution business.


Eon brought at the same time the sale of the business in Spain and Portugal at the Australian Macquarie Infrastructure investor in the bag, but had to do well in the current quarter depreciation in the amount of 4.5 billion euros. For the years 2014 and 2015, the shareholders will receive a dividend of 50 cents per share.


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With the elimination of nuclear, coal and gas power plants Eon responded to the fall in prices of wholesale prices for current. These have fallen because of excess capacity in power plants and the expansion of green electricity alone since the beginning of 2013 by more than a quarter. “The current wide business model of the new Eon is no longer sufficient,” said chief executive John Teyssen. Therefore, the company wants to set up radically new. In the coming year, the management create the conditions necessary for the split and the IPO of conventional power plants. To the split-off part of the global energy and trade as well as the areas of exploration and production would include.


The shops in Spain and Portugal Eon sold at an enterprise value of 2.5 billion euros at Macquarie. Reuters had already reported last week about the plans. The losses were due in the fourth quarter on the southern business as well as power plants. Due to the depreciation of the Group will enter a significant loss in the 2014 financial year. The forecast for operating profit from 8.0 to 8.6 billion euros, and for sustainable surplus of 1.5 to 1.9 billion euros, the Group now keep at. For 2014 and 2015 Eon will pay a dividend of 50 cents, according to 60 cents in 2013.


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Radical change

Eon says goodbye to nuclear, coal and gas


Germany’s largest energy company is in crisis – and undergoes a radical cure. Business with conventional energy should be terminated. The focus is on other fields in the future.

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