Wednesday, August 10, 2016

Eon: Analyst warns Eon shares – manager-magazin.de


 

  Gloomy figures. the Eon  wrote billion in power plant subsidiary Uniper off  and collected in the second quarter so a billion  loss Uniper. is in the fall on the stock market

DPA

 Gloomy figures: The Eon wrote billion from at the power plant subsidiary Uniper and collected in the second quarter so a billion loss. Uniper to autumn on the stock market

amortization in standing before the IPO daughter Uniper chunk Eon a billion loss a. The stock crashes. Investors fear further depreciation and capital requirements – the Board does not rule out a capital increase. Analysts are now warning explicitly against an investment in the share

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. <[Endif] -> speculation on further capital requirements weighed heavily on the shares of Eon on Wednesday. The shares plunged by as much as 6.6 percent to a five-week low of 8.81 euros and were the biggest loser in the leading Dax .

The number before the IPO Kraftwerk daughter Uniper hailstones the power company’s balance sheet. In the first half fell due allowances to a loss of more than three billion euros. Eon wants to go public, 53 percent of Uniper shares in September.

The higher level of Group debt let suspect in view of future dividend payments to no good, said a broker. In addition, there is a great danger that further write-downs were necessary in Uniper. Eon himself concluded that not of, nor a capital increase.

“We have already warned late 2014 warning that the balance of Eon is not strong enough for a fork and since been reaffirmed repeatedly that fresh capital is needed, “wrote analysts at Kepler. A capital with significant levels draw away. “Avoid investing in Eon at this time.”

Eon has formed at the power plant subsidiary value adjustments and provisions for anticipated losses amounting to 3.8 billion euros, which drives the loss of the Group in the second quarter in the amount. CEO Johannes Teyssen nevertheless confirmed the forecast for the rest of the group.

The IPO stands nothing in the way, the manager said. Eon outsources the ailing coal and gas power plants and energy trading in the daughter, and himself also focus the lucrative green energy business.

green power business Eon was the operating profit (adjusted EBIT) for the half year increased by 53 million to 254 million. In the Networks the result is decreased to EUR 872 million due to the elimination of one-off items to 73rd Overall, adjusted for special items earnings before interest and taxes shrank ( bit ) by 6 percent to around two billion euros. Analysts had on average 1.85 billion euros.

Eon confirmed the forecast, according to which the Group is targeting an adjusted EBIT from 2.7 to 3.1 billion euros for the full year. Eon put the numbers in the new structure before . In it are the green energy business, network operations and distribution as well as the minority interest of approximately 47 percent of Uniper included.

Daughter Uniper is from the beginning under pressure

The soon standing on their own feet daughter Uniper is from the beginning under pressure. CEO Klaus Schäfer plans to cut many of the almost 14,000 points and repel to 2018 investments worth at least two billion euros. Eon has meanwhile lift billions for nuclear phase-out. Teyssen had already announced to postpone investments and reduce costs. Also capital measures are not excluded

rei / Reuters / dpa

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