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Innogy shares surge after German utilities shake-up

E.ON sees up to 5,000 job cuts as part of Innogy deal
Business Standard

E.ON sees Innogy deal boosting earnings in coming years

Reuters  |  FRANKFURT 

FRANKFURT (Reuters) - E. ON , Germany's second-largest energy group, forecast its underlying net profit would remain broadly flat in 2018 but said that its joint plan with peer RWE

DE> to carve up Innogy would help boost earnings in the coming years.

Adjusted net income will come to 1.3 to 1.5 billion euros ($1.60-1.85 billion) this year, compared with 1.4 billion in 2017, E. ON said on Monday.

The group said its bottom line would grow by 5 to 10 percent per year through 2020 but that the Innogy deal would help it surpass that target.

(Reporting by Maria Sheahan; Editing by Christoph Steitz)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Tue, March 13 2018. 00:09 IST

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