E.ON SE - Financial and Strategic SWOT Analysis Review: Company Overview

E.
ON SE Financial and Strategic SWOT Analysis

Review
Brusseler Platz 1 Phone +49 201 18400 Revenue 42,239.85 (million USD)
Essen, Nordrhein- Fax NA Net Profit -8,450.00 (million EUR)
Westfalen
45131 Website www.eon.com Employees 43,138
Germany Exchange EOAN [XETRA] Industry Power
Company Overview
E.ON SE (E.ON), formerly E.ON AG, is an energy company that generates electricity, produces, stores, transports, and
supplies gas and conducts trading, carbon sourcing, and electricity and gas distribution. It generates power from diverse
fuel sources including wind, hydro, nuclear, coal, natural gas, oil, solar and bio energy. The storage and transport
operations of the company include underground gas storage reservoirs and interests in the Nord Stream AG. The
company trades in gas, electricity, biomass, coal, freight and carbon allowances. It operates its electricity distribution
network across Europe and the US and gas distribution network across Europe.
Key Executives SWOT Analysis
E.ON SE , Key Executives E.ON SE , SWOT Analysis
Name Title Strengths Weaknesses
Johannes Teyssen Chairman
Leonhard Birnbaum Business Model: Business Performance:
Chief Operating Officer
Integrated and Diversified Customer Solutions
Networks & Renewables
Marc Spieker Chief Financial Officer Focus on Research and
Karl-Ludwig Kley Chairman Development Activities
Karsten Wildberger Chief Operating Officer
Commercial Opportunities Threats
Source: GlobalData
Growth Prospects for Safety Concerns: Nuclear
Renewable Energy: Wind Decommissioning
Share Data
E.ON SE , Share Data Partnerships and Competition
Agreements
Share Price (EUR) as on 13-Sep-2017 9.30
EPS (EUR) 2.76 Source: GlobalData
Market Cap (million EUR) 20,746.12
Enterprise Value (million EUR) 27,999.12
Shares Outstanding (million) 2,167.15
Source: GlobalData
Financial Performance Recent Developments

Sep 07, LOC Renewables signs MOU to boost
2017 Taiwanese offshore wind
Sep 06, E.ON starts construction of Texas Waves
2017 power storage plant in US
Sep 06, E.ON starts construction on Texas Waves
2017 energy storage projects
Sep 05, E.ON breaks ground on Texas Waves
2017 Energy Storage Projects
Source: GlobalData
Source: GlobalData
GCI_University_Of_Warwick_14092017125446
About the Company
E.ON SE , Key Facts

E.ON SE , Key Facts
Corporate Address Brusseler Platz 1, Essen, Ticker Symbol, Exchange EOAN [XETRA]
Nordrhein-Westfalen,
45131, Germany
Telephone +49 201 18400 No. of Employees 43,138
Fax NA Fiscal Year End December
URL www.eon.com Revenue (US$ m) 42,239.85
LCURevenue (EUR) 38,173.00
Industry Power
Locations Argentina, Austria, Belgium, Bulgaria, Canada, Czech Republic, Denmark, Finland, France,
Germany, Hungary, Italy, Luxembourg, Malta, Netherlands, Nigeria, Norway, Poland,
Portugal, Romania, Russia, Serbia, Singapore, Slovakia, Slovenia, Spain, Sweden,
Switzerland, Turkey, United Arab Emirates, United Kingdom, United States
Source: GlobalData
Company Overview
E.ON SE (E.ON), formerly E.ON AG, is an energy company that generates electricity, produces, stores, transports, and supplies
gas and conducts trading, carbon sourcing, and electricity and gas distribution. It generates power from diverse fuel sources
including wind, hydro, nuclear, coal, natural gas, oil, solar and bio energy. The storage and transport operations of the company
include underground gas storage reservoirs and interests in the Nord Stream AG. The company trades in gas, electricity, biomass,
coal, freight and carbon allowances. It operates its electricity distribution network across Europe and the US and gas distribution
network across Europe. E.ON is headquartered in Essen, Germany.
E.ON SE - Key Employees
E.ON SE , Key Employees
Name Job Title Board Level Since Age
Johannes Teyssen Chairman, Chief Executive Executive Board 2010 57
Officer
Leonhard Birnbaum Chief Operating Officer Executive Board 2013 50
Networks & Renewables,
Director
Marc Spieker Chief Financial Officer, Executive Board 2017 42
Director
Karl-Ludwig Kley Chairman Executive Board 2016
Karsten Wildberger Chief Operating Officer Executive Board 2016 48
Commercial, Director
Barbara Schadler Head - Communications and Senior Management 2016 53
Political Affairs
Source: GlobalData
E.ON SE - Key Employee Biographies
E.ON SE , Key Employee Biographies
Johannes Teyssen Dr. Johannes Teyssen has been the Chairman and Chief Executive
Job Title: Chairman, Chief Executive Officer Officer of the company since 2010. Prior to this, he served as the Vice
Board Level: Executive Board Chairman of the Board of Management of E.ON Energie AG for the
Since: 2010 period 2008 to 2010. From 2004-2008, he worked with E.ON Energie
Age: 57 AG as a member of the Board of Management. Prior to that, he served
as the Chairman of E.ON Energie from 2003 to 2007 and as member of
Board of Management from 2001 to 2003. He also held several senior
positions from 2001 to 1989, he was Chairman of Avacon AG from 2001
to 1999; he served as the member of Board of Management in Hastra
AG, from 1999 to 1998; and also served as the Head of energy and
corporate law department in PreussenElektra AG from 1994 to 1991;
and as the Head of legal affairs regional utilities in PreussenElektra AG,
from 1994 to 1991.
Marc Spieker Mr. Marc Spieker has been the Chief Financial Officer and Director of
Job Title: Chief Financial Officer, Director the company since 2017. Prior to this, he was the Project Head of the
Board Level: Executive Board strategy project One2two of E.ON Espana. Mr. Spieker also served
Since: 2017 Chief Financial Officer of E.ON Espana Head of department for
Age: 42 controlling and reporting for Group activities in Scandinavia, the UK and
the US as well as global trading. He also served as the Division Head in
the company's energy business segment overseeing the commercial
and strategic optimization of the entire E.ON commodity portfolio.
Karl-Ludwig Kley Mr. Karl-Ludwig Kley has been serving as the Chairman of the company
Job Title: Chairman since 2016. Prior to this, he worked as the Chairman and the CEO of
Board Level: Executive Board Merck, the CFO of Deutsche Lufthansa AG, and finance and investor
Since: 2016 relations at Bayer AG.
Age:
Source: GlobalData
E.ON SE - Major Products and Services
E.ON SE , Major Products and Services
E.ON is an integrated energy provider that conducts generation, renewable business, energy trading, new-build projects
and global gas business. The companys key products and services include the following:
Products:
Electricity
Natural Gas
Liquified Natural Gas
Heat
Services:
Electricity Distribution
Gas Distribution
Wholesale Power Marketing
Source: GlobalData
E.ON SE - History
E.ON SE , History
2017 Contracts/Agreements In April, the company and DSM Nutritional Products partnered to
develop the existing distributed power plant at Grenzach-Wyhlen in
Baden-Wrttemberg.
2017 Contracts/Agreements In April, the company entered into an agreement with Ampyx Power to
develop a test site for 2MW airborne wind energy system in Ireland.
2017 Contracts/Agreements In February, the company and NCC entered into a contract construct a
new cogeneration installation at Hogbytorp, in north Stockholm, valued
US$84 million.
2017 Contracts/Agreements In July, the company and Vonovia to install solar panels on 56
apartment buildings in Dresden.
2017 Contracts/Agreements In June, E.ON selected Tieto Smart Utility to support its distribution
operations for the collection of meter values in Sweden.
2017 Contracts/Agreements In March, E.ON and CLEVER partnered with YX, to build ultra-fast
chargers for YX service stations in Norway.
2017 Contracts/Agreements In March, E.ON entered into a long-term partnership with Dow Benelux
to build, own and operate a large gas-fired boiler plant for their largest
production site in the Netherlands.
2017 Contracts/Agreements In May, E.ON SE partnered with Google to launch Google's solar
platform Sunroof in Germany.
2017 Contracts/Agreements In May, E.ON, Google and Tetraeder joined forces to promote the
expansion of solar energy in Germany.
2017 Contracts/Agreements In May, E.ONentered into an agreement with British band Gorillaz, to
jointly develop film and music studio powered by solar and battery.
2017 New Products/Services In July, the company launched new procurement and marketing unit for
power and gas.
2017 Plans/Strategy In March, the company planned to raise US$1.43 billion through private
placement of registered shares.
2017 Plans/Strategy In May, the company planned to sell its remaining 46.65% stake in
Uniper SE.
2016 Acquisitions/Mergers/Takeovers In April, Premier Oil plc acquired 100% stake in the UK exploration and
production subsidiaries, from E.ON SE for US$135 million.
2016 Commercial Operation In August, E.ON initiated building 278 MW Twin Forks Wind Farm for
producing clean power.
2016 Commercial Operation In June, E.ON implemented new concepts to electric mobility based on
e-bikes.
2016 Contracts/Agreements In April, E.ON partnered with Statoil, to build Arkona offshore wind farm.
2016 Contracts/Agreements In April, Siemens and E.ON signed agreement for the supply, installation
and commissioning of 60 direct-drive offshore turbines for the Arkona
wind farm with a total capacity of 385 MW.
2016 Contracts/Agreements In April, the ENSURE project with core partners, E.ON, RWTH Aachen
University, network operator TenneT TSO, Siemens and ABB was
selected by German federal government to promote energy transition.
2016 Contracts/Agreements In April, the Land of Berlin and E.ON entered into an agreement to
cooperate closely in further developing Berlins municipal gas supply.
2016 Contracts/Agreements In December, Nordex Group agreed to supply 228 MW for E.ON project
in US .
2016 Contracts/Agreements In February, E.ON SE entered into partnership with Solarwatt GmbH to
develop the electricity storage systems.
2016 Contracts/Agreements In February, the company and agro-food group Granarolo entered into
an outsourcing deal. Under the terms of deal, the companys
international unit for integrated energy solutions, E.ON Connecting
Energies, will fully own, operate and manage Granarolos existing and
new energy assets with a total capacity of 14 MW.
2016 Contracts/Agreements In February, the company and Siemens entered into a sales
collaboration agreement, under which Siemens and E.ON Metering
complement each other with the implementation of its EnergyIP smart
grid application platform.
2016 Contracts/Agreements In July, E.ON and Statoil partnered up to construct and manage a 60-
turbine offshore windfarm, Arkona, with an investment of EUR1.2 billion,
each holding a 50 percent share and Siemens provided the 6MW
turbines.
2016 Contracts/Agreements In July, the Scottish Government entered into an agreement with nine
major European offshore wind developers, namely, Statoil, RWE,
Vattenfall, Iberdrola, Statkraft, Dong Energy, SSE, EnBW and E.ON to
invest EUR7.9 million in Carbon Trust's offshore wind accelerator
programme for reducing the cost of offshore wind through technological
innovation.
2016 Contracts/Agreements In June, E.ON entered into a contract with new Arkona offshore wind
farm to DNV GL, which includes inspection phases, from manufacturing,
installation, transport and commissioning to operation the wind farm.
2016 Contracts/Agreements In May, E.ON and Evonik Industries partnered to put a highly efficient
combined-cycle gas turbine (CCGT) power plant at the Marl chemical
park into operation.
2016 Contracts/Agreements In May, Vysiion got contract to support Rampion wind farm
infrastructure.The Rampion Offshore Wind Farm being built by energy
company E.ON and partners the UK Green Investment Bank plc (GIB),
Which provides energy to power 300,000 homes each year.
2016 Contracts/Agreements In October, Eolus entered into an agreement with E.ON electricity
network to connect grid to the 84MW Jenaesen wind farm in the
municipality of Sundsvall.
2016 Corporate Changes/Expansions In April, E.ON began selling its E.ON Aura electricity storage system in
Germany.
2016 Corporate Changes/Expansions In August, E.ON initiated its operations of Colbeck's Corner wind farm
with capacity of 200MW and 112 turbines generates CO2-neutral
electricity.
2016 Corporate Changes/Expansions In January, the company separated its fossil fuel and renewable
business with the launch of new company, Uniper.
2016 Corporate Changes/Expansions In June, E.ON expanded its wind power in European and the US market,
as they estimate a great potential this technology offers.
2016 Corporate Changes/Expansions In October, E.ON initiates the operations at new cogeneration plant for
Italian beverage company Aqua Minerale San Benedetto.
2016 Divestiture In January, the company entered into an agreement to sell 100 percent
of its shares in its UK E&P subsidiaries to Premier Oil.
2016 Financing Agreements In December, The company invested EUR5 million in Kite Power
Solutions, which produced power from wind.
2016 Oil/Gas Discovery In August, Premier Oil had discovered oil reserves in the Outer Moray
Firth after the drilling operation in the UK North Sea, which were owned
by E.ON.
2016 Others In February, E.ONs offshore wind farm Amrumbank West became
operational.
2016 Others In February, Sound Energy, achieved its first commercial production at
the operated onshore Nervesa gas discovery.
2016 Others In January, Gazprom along with Shell addressed a variety of issues
regarding the strategic cooperation between the two organizations.
2016 Plans/Strategy In December, The company to build the 228MW onshore wind farm
Bruennings Breeze in Willacy County, Texas.
2016 Plans/Strategy In January, the company commenced the installation of first turbine
foundation for Rampion project in the UK.
2016 Research and Development In August, E.ON develops new technology which uses battery and solar
technologies to provide a new, large-scale customer solution in the US.
2015 Acquisitions/Mergers/Takeovers In May, the company has acquired GBP236 million stake in the 400MW
Rampion Offshore Wind Farm.
2015 Asset Disposal In February, the company sold its solar PV business in Italy to private
infrastructure fund F2i SGR.
2015 Asset Disposal In May, PL802 licence was awarded to Repsol (40%), Eon (20%), OMV
(20%) and Atlantic Petroleum (20%) of which Atlantic Petroleum will sell
10% stake to Statoil.
2015 Commercial Operation In April, E.ON generated first power from its 288MW Amrumbank West
offshore wind farm in the German North Sea.
2015 Commercial Operation In August, the company commenced the construction of modular large
scale battery storage system M5BAT at RWTH Aachen University.
2015 Commercial Operation In January, the company with 5.2% interest in West Franklin Phase 2
project commenced production in UK North Sea.
2015 Commercial Operation In June, the company's Humber Gateway offshore wind farm in UK
started power generation.
2015 Commercial Operation In November, the company completed 28 MW PV farm in Kern County,
southern California.
2015 Commercial Operation In October, BMW, E.ON, and Siemens completed the installation of
eight direct-current (DC) fast-charge stations and related infrastructure
along the A9 freeway connecting Munich, Nuremburg, and Leipzig.
2015 Commercial Operation In October, E.ON announced the completion of construction of
Amrumbank West offshore wind farm.
2015 Commercial Operation In October, the company announced to shutdown Oskarshamn Unit 1
(O1) and Oskarshamn Unit 2 (O2) Reactors.
2015 Commercial Operation In September, the company commenced the construction of 20MW solar
project in California.
2015 Commercial Operation the company's subsidiary E.ON Connecting Energies implemented a
comprehensive energy saving program to deliver substantial energy
efficiency improvements for the Turbo division of Voith GmbH.
2015 Contracts/Agreements In April, the company along with GE Energy Financial Services opened
a Grandview Wind Farm in the Texas Panhandle.
2015 Contracts/Agreements In August, E.ON has agreed to sell its 527 MW Terni hydroelectric
power complex to ERG Power Generation S.p.A.
2015 Contracts/Agreements In August, E.ON partnered with Organic Response, to establish sales
channels and ramp up marketing activities.
2015 Contracts/Agreements In August, E.ON selected SeaPlanners marine management and
monitoring tool, to help manage the operations and maintenance phase
of the Humber Gateway offshore wind farm.
2015 Contracts/Agreements In August, MPI Enterprise delivered its first charter at E.ONs
Amrumbank West Offshore Wind Farm.
2015 Contracts/Agreements In August, VBMS was awarded a contract by E.ON to install two 16
kilometre-long export cables for the Rampion Offshore Wind Farm.
2015 Contracts/Agreements In December, E.ON Connecting Energies GmbH, a subsidiary of E.ON
SE, signed an agreement to acquire Heat & Power srl.
2015 Contracts/Agreements In December, E.ON SE signed a Memorandum of Understanding with
Samsung SDI Co., Ltd., for their co-operation in the energy storage
business.
2015 Contracts/Agreements In December, The company and KEPCO E&C signed a mutual
cooperation agreement regarding the development of decommissioning
technology and execution of the related business with Westinghouse of
the USA.
2015 Contracts/Agreements In February, E.ON Global Commodities (EGC), the energy trading arm
of E.ON entered into an agreement with Gulf South Pipeline Company to
ship natural gas to Coastal Bend Header project.
2015 Contracts/Agreements In February, the company joined Space-Time Insight to develop smart
grid software solutions.
2015 Contracts/Agreements In July, E.ON SE formed a strategic alliance with Banca Prossima and
the foundation Fits! to foster energy efficiency, carbon and cost savings
in the public sector in Italy.
2015 Contracts/Agreements In July, Gamesa was contracted to supply1 nine wind turbines to
repower the Ovenden Moor wind farm in the UK, which is developed by
a joint venture between E.ON and Energy Power Resources Ltd.
2015 Contracts/Agreements In June, Gazprom partnered with E.ON, Shell and OMV to construct two
gas pipeline strings from Russia to Germany.
2015 Contracts/Agreements In May, the company partnered with Sungevity to offer customers in
Germany with online consultation and planning service for PV
installations.
2015 Contracts/Agreements In May, Vattenfall and E.ON signed a long-term cooperation agreement,
for decommissioning and dismantling process of joint nuclear power
plants.
2015 Contracts/Agreements In November, E.ON entered into an agreement with Procter & Gamble
(P&G), to begin a high-efficiency heat and power solution for Procter &
Gamble's production site in Germany.
2015 Contracts/Agreements In November, Enbridge entered into an agreement with E.ON to acquire
24.9% stake in the 400MW Rampion offshore wind project, for
US$569.8million.
2015 Contracts/Agreements In October, Array Technologies completed DuraTrack HZ shipments to
the 20MW Maricopa West solar project for E.ON Solar, a subsidiary of
E.ON SE.
2015 Contracts/Agreements In October, DEA Deutsche Erdoel AG signed an agreement to acquire
100% stake in E.ON E&P Norge AS from E.ON SE for US$1,600 million.
2015 Contracts/Agreements In October, E.ON signed an agreement to divest the 100 percent of its
shares in E.ON E&P Norge AS to DEA Deutsche Erdoel AG (DEA).
2015 Contracts/Agreements In October, Ericsson, E.ON and ABB have signed a cooperation
agreement to develop innovative products and services, to deliver smart
energy solutions for various industries.
2015 Contracts/Agreements In October, PSI AG secured an order from E.ON Deutschland, to
develop and renewal all the network control systems of their regional
supply companies.
2015 Contracts/Agreements In September, AF secured a contract from E.ON to supply
Skogsforsens hydropower plant in Atran with new electrical and control
equipment.
2015 Contracts/Agreements In September, AREVA awarded a contract by E.ON to perform outage
services at Isar 2, Brokdorf and Grohnde nuclear power plants in
Germany.
2015 Contracts/Agreements In September, E.ON SE, Swedegas and the Port of Ahus signed a letter
of intent to build a gas network in north east of Skane.
2015 Contracts/Agreements In September, Fugro was awarded a contract to install and bury array
cables at the Rampion Offshore Wind Farm, built by E.ON along with the
UK Green Investment Bank.
2015 Contracts/Agreements In September, Gazprom, BASF, E.ON, ENGIE, OMV and Shell signed
the Shareholders Agreement to construct the Nord Stream 2 gas
pipeline system with the capacity of 55 billion cubic meters of gas p.a.
2015 Contracts/Agreements The company collaborated with e-clearing.net, an open B2B roaming
platform, to allow its partners for sharing the necessary data to use their
EV charging infrastructures.
2015 Contracts/Agreements The company's energy solutions business, E.ON Connecting Energies
entered into a partnership with FRIATEC, a member of the ALIAXIS
group, to deliver a high-efficiency heat supply solution for production
plant in Mannheim, Germany.
2015 Corporate Changes/Expansions In April, the company has launched new E.ON Energy Services
business.
2015 Corporate Changes/Expansions In October, the company launched energy storage facility using
Hydrogenics PEM Technology.
2015 Divestiture In January, the company announced to divest around 4,500 MW of its
coal and gas generation assets in Italy to Czech energy company
Energeticky a Prumyslovy (EPH).
2015 Plans/Strategy In August, E.ON plans to spin off its power plants, energy trading
activities and oil and gas operations into a separate unit.
2015 Plans/Strategy In August, the company plans to shutdown its Germany nuclear plant by
2022 to cooperate with German Government.
2015 Plans/Strategy In June, E.ON's Oskarshamn nuclear reactors 1 and 2 plans to start the
closing process of the two reactors.
2015 Plans/Strategy In June, the company plans to divest its oil and gas assets in North Sea
and Algeria for US$2 billion.
2015 Plans/Strategy In March, E.ON, HSE, Mainova, and N-ERGIE consortium announced
its plans to shutdown Irsching 5, a high-efficiency combined-cycle gas
turbine (CCGT) and notified to German Federal Network Agency and
network operator TenneT.
2015 Plans/Strategy In May, E.ON plans to build Rampion offshore wind farm in United
Kingdom.
2015 Plans/Strategy In October, Vattenfall and E.ON plans to shut down the Ringhals-1 and
Ringhals-2 reactors, which holds stake in the plant.
2015 Regulatory Approval In January, the company's E&P was awarded 12 new licences, including
three operatorships, in the 2014 Awards in Predefined Areas in Norway.
2015 Stake Sale In December, RWE and the company signed an agreement to jointly sell
their respective 18.4% and 10% shareholding in the Luxembourg utility
Enovos International S.A. to the Grand Duchy of Luxembourg and the
investment company Ardian.
2015 Stake Sale In May, EQT Infrastructure II Fund acquired the remaining 49% stake in
EEW Energy from Waste from the company.
2014 Acquisitions/Mergers/Takeovers In August, the company has acquired a 9.09 percent stake in Parnaiba
Gas Natural from OGX Petroleo e Gas Participacoes SA for US$21.9
million.
2014 Acquisitions/Mergers/Takeovers In January, Kajaso Oy acquired E.ON Suomi from E.ON.
2014 Acquisitions/Mergers/Takeovers The company sets plans to acquire additional stake In Eneva for
US$275.1 million.
2014 Commercial Operation The company decided to install ABBs latest eco-efficient 72.5 kV high
voltage circuit breaker at its hydropower plant in Ledinge, Sweden.
2014 Commercial Operation The company returned the 1,430 megawatts (MW) plant to the grid, due
to generator defect.
2014 Contracts/Agreements In April, Unipart partnered with E.ON to reduce its energy costs and
carbon emissions through the advanced biomass technology.
2014 Contracts/Agreements In December, E.ON Connecting Energies, an E.ON subsidiary
specializing in energy-efficiency services, has entered into a strategic
partnership with Intelligent Maintenance Systems Ltd. (IMS), a leading
U.K.-based provider of machine-to-machine (M2M) communication
solutions.
2014 Contracts/Agreements In December, Enbridge Inc. signed an agreement to acquire 80% stake
in two wind farms in the US from E.ON for US$650 million.
2014 Contracts/Agreements In January, the company has agreed to acquire the remaining 30%
interest in Karlshamns Kraft AB, a power generation company, from
Fortum Corporation (Fortum Oyj).
2014 Contracts/Agreements In June, E.On Global with Titan LNG, and its partner Rolande LNG
loaded a container with about 17 tons of LNG at the Dutch Gate
terminal.
2014 Contracts/Agreements In November, E.ON and RWE has selected Westinghouse Electric
Company to manufacture and deliver nuclear fuel assemblies for the
Gundremmingen and Emsland Nuclear Power Plants in Germany.
2014 Contracts/Agreements In September, the company has entered into partnerships with Leeo in
San Francisco and Thermondo in Berlin to expand its venture capital
activities.
2014 Contracts/Agreements In September, the company together with RWE AG, has selected GNF
ENUSA Nuclear Fuel S.A., to provide fuel reloads for Unit C of the
Gundremmingen nuclear power station in Gundremmingen, Germany.
2014 Corporate Changes/Expansions In November, E.ON launched Enerji Almanya, a new retail brand under
which it will market power to Turkish families and businesses in
Germany.
2014 New Products/Services In October, the company has launched a 'Prepayment Store Locator'
tool to help people with prepayment meters find their nearest top-up
location, wherever they are.
2014 Others In December, the company started commissioning large scale wind and
solar projects in the US.
2014 Others In June, the company has announced its plan to withdraw from a
pipeline scheme with France's Total to bring Azerbaijan's gas to Italy.
2014 Plans/Strategy In December, E.ON announced that it would split in two companies one
focused on renewables and the other on fossil fuels.
2014 Plans/Strategy In November, the company plans to sell 20% stakes to Gasum for
EUR200 million.
2014 Plans/Strategy In September, the company along with Iren, has announced its plan to
build a floating LNG unit twelve miles off the Tuscan coast by converting
an LNG carrier.
2014 Plans/Strategy In September, the company has announced its plan to acquire EUR1800
million worth Romanian assets from Enel.
2014 Plans/Strategy In September, the company plans to establish a digital transformation
unit in Berlin.
2013 Acquisitions/Mergers/Takeovers In April, E.ON acquired 50% stake in Enerjisa Enerji Uretim from
Verbund at a value of US$3,896.28 million.
2013 Acquisitions/Mergers/Takeovers In May, the company has acquired 24.5 percent of equity of MPX.
2013 Contracts/Agreements In December, the company has entered into an agreement to sell its
73.3-percent stake in E.ON Mitte AG to a consortium of municipal
shareholders.
2013 Contracts/Agreements In February 2013, the company has entered into a contract with TAG
Energy Solutions Ltd. to manufacture 16 monopiles and transition pieces
for E.ONs Humber Gateway offshore wind farm.
2013 Contracts/Agreements In January 2013, the companys subsidiary E.ON UK plc a entered into
a contract with Alicat Workboats to build four new vessels to support
offshore wind generation.
2013 Contracts/Agreements In June, the company entered into an agreement to sell 62.8% stake in
E.ON Westfalen Weser AG, to a consortium of municipal co-owners,
consisting of Municipality of Paderborn and Municipality of Herfor, for a
consideration of $472.02m. As part of the transaction, the company will
buy back E.ON Westfalen Weser Vertrieb GmbH, a retail subsidiary and
certain other shareholdings held by E.ON Westfalen Weser AG.
2013 Contracts/Agreements In March 2013, the companys subsidiary E.ON UK plc entered into a
contract with Harland and Wolff Heavy Industries Limited (Harland and
Wolff) to design and fabricates the Humber Gateway offshore wind farm
substation.
2013 Corporate Changes/Expansions In March 2013, the company officially commenced Tween Bridge
onshore wind farm located in Thorne, Doncaster. The project has 22
turbines with 44 MW of installed capacity, and is capable of providing
electricity to around 27,000 homes a year.
2013 New Products/Services In April 2013, the companys subsidiary E.On Climate & Renewables
North America Inc. commenced usage of geoAMPS's software product
altAMPS, which would help it to manage wind farm projects in 16 states
and two provinces of Canada. Its operational wind farms are capable of
generating more than 2,700 MW of electricity.
2013 Others In April 2013, the companys subsidiary E.ON UK plcs, Rampion
offshore wind farm proposal have been accepted by the Planning
Inspectorate. The wind farm project has 175 turbines with installed
capacity of 700 MW, and is capable of generating enough electricity to
serve around 450,000 homes.
2013 Others The company installed power-to-gas unit in Germany injected hydrogen
into the natural gas system for the first time as part of a function test.
2013 Stake Sale In May, the company has announced that 4.2% of the stake held by
Statkraft in the company has been sold to Boost Capital for US$1.5
billion.
2012 Acquisitions/Mergers/Takeovers In December, the companys subsidiary E.ON Climate & Renewables
GmbH awarded a contract to ReneSola Ltd to ship 4.3 MW of solar
modules.
2012 Contracts/Agreements In April, E.ON concluded the agreement with MPX for the formation of a
joint venture. The joint venture would undertake the development of
power generation, supply and trading operations in Brazil. The
companies planned construction of power generation capacity of 20,000
MW in Chile and Brazil. According to the terms of the agreement, MPX
will raise nearly BRL1 billion. Of this, E.ON will invest BRL850m. The
joint venture could enable E.ON to establish itself in the Brazilian power
market.
2012 Contracts/Agreements In December, E.ON has signed agreements to form a joint venture with
EQT Infrastructure II.
2012 Contracts/Agreements In February, E.ON France entered into partnership agreement with
Hydrocop Concessions to absorb hydroelectric concession announced
by the French Government.
2012 Contracts/Agreements In July, the company entered into an agreement with Gazprom for long-
term gas supply contract, which includes a retroactive adaptation of
pricing conditions.
2012 Contracts/Agreements In October, the companys subsidiary E.ON Sweden and Rejlers entered
into a framework agreement for engineering services in energy and
infrastructure. The agreement includes assignments in nuclear power,
wind power, hydropower and heat production, and electricity grid and
telecommunications.
2012 Contracts/Agreements In October, the companys subsidiary E.ON UK plc and RWE npower plc
entered into an agreement to sell Horizon Nuclear Power to Hitachi, Ltd.
2012 Corporate Changes/Expansions In February, E.ON's supervisory board approved plans for the
transformation of the company into a European stock corporation (SE).
The final decision was expected in March 2012. This could lead to
negotiations on the structure of the SE with a committee consisting of
European employee representatives, in May 2012.
2012 Corporate Changes/Expansions In May, the company initiated bundling of support functions for business
units under its ongoing E.ON 2.0 efficiency program. As per plan, E.ON
will be centralized in shared service units known as Business Service
Centers, enabling it to improvise process standardization and yield
significant cost reduction across all group companies.
2012 Divestiture In October, E.ON sold E.ON Suomi Oy.
2012 Incorporation/Establishment In November, the companys subsidiary E.ON Rossiya OAO secured
approval from board members to establish a new wholly-owned
subsidiary, E.ON Connecting Energy OOO. The new subsidiary will be
involved in the development, design, installation, operation,
maintenance and optimization of distributed energy generation objects.
2012 Oil/Gas Discovery In July, E.ONs exploration and production business along with
Sonatrach discovered oil and gas discoveries in the Rhourde Yacoub
license area in Algeria. Its exploration and production division in
cooperation with Sonatrach has completed the drilling and testing of the
seventh exploration well in block 405a in the NEY-1 well.
2012 Others In March, the company intended to sell E.ON Energy from Waste AG, a
producer of heat and power from waste, for up to 1.8 billion ($2.4
billion).
2012 Plans/Strategy In April, the company plans to form a joint venture with Eike Fuhrken
Batista da Silva to exploit oil and gas reserves in northern Brazil.
2011 Asset Disposal In December, the company disposed off its subsidiary E.ON Bulgaria for
transaction amount of 133m to Czech company Energo-Pro.
2011 Commercial Operation In January, E.ON commenced operations at its new gas and steam
turbine power station in Malzenice in Slovakia.
2011 Commercial Operation In June, E.ON commissioned biomethane facility in Merzig in the federal
state of Saarland. The plant was built to produce biomethane from
biomass in collaboration with Enovos Deutschland AG and Stadtwerke
Merzig GmbH.
2011 Commercial Operation In September, the company's and First Abengoa's jointly established
solar power plant commenced operation in Spain.
2011 Corporate Changes/Expansions In August, E.ON Russia officially commissioned two new units at its
Surgutskaya GRES-2 power station. The new CCGT units have a total
capacity of 800 MW.
2011 Corporate Changes/Expansions In June, E.ON opened the countrys combined cycle gas turbine (CCGT)
power plant, in which the company invested approximately EUR400m,
with a capacity of 433 megawatts and efficiency of over 59%.
2011 Corporate Changes/Expansions In May, E.ON inaugurated the modern combined cycle gas turbine plant
at Malzenice in Slovakia with a capacity of 436 megawatts.
2011 Corporate Changes/Expansions In September, the company commenced the development and
construction of two new large-scale solar projects namely, Fiume Santo
2 (FS2) and 5 (FS5) with combined capacity of 29.6 MW.
2011 Corporate Changes/Expansions In September, the company's subsidiary E.ON France commenced its
sixth wind farm with 13 wind turbines, which has total installed
renewable power capacity of 83.5 MW.
2011 Corporate Changes/Expansions In September, the company's subsidiary E.ON Russia commissioned a
combined cycle gas turbine unit at Yaivinskaya GRES power station.
The new unit has a total capacity of 400 MW.
2011 Divestiture E.ON completed the sale of its UK distribution business, Central
Networks, to a subsidiary of PPL Corporation, Allentown, Pennsylvania
(PPL).
2011 Divestiture In August, E.ON AG sold its 20% stake in Stadtwerke Duisburg AG to
Duisburger Versorgungs- und Verkehrsgesellschaft mbH (DVV). Sale of
the Stadtwerke Duisburg supports the company's divestments strategy.
2011 Plans/Strategy In August, E.ON intended to install over 360 packaged cogeneration
systems in Hamburg, Schleswig-Holstein and Mecklenburg-
Vorpommern, which will contribute to the energy supply in Germany.
2010 Acquisitions/Mergers/Takeovers PPL Corporation acquired E.ON U.S. LLC, from E.ON AG.
2010 Contracts/Agreements The company entered into an agreement with Masdar, a wholly owned
subsidiary of Mubadala Development Company, to establish E.ON
Masdar Integrated Carbon (EMIC).
2010 Corporate Changes/Expansions The company announced the start of 400MW power plant in Russia.
2010 Others The company is working in association with Vattenfall for joint
optimization of Krummel and Brunsbuttel nuclear power stations.
2010 Stake Sale The company agreed to sell 40% Stake in HEAG Suedhessische
Energie to the majority holder of Darmstadt-based municipal utility.
2009 Acquisitions/Mergers/Takeovers E.ON Climate & Renewables and Bionersis forge became partners in
South-East Asia
2009 Acquisitions/Mergers/Takeovers The company acquired Societe Conilhac Energies S.A.S. (Conilhac), a
developer of photovoltaic projects in southern France to continue the
rapid development of its solar activities in one of Europes most
important markets for solar energy.
2009 Acquisitions/Mergers/Takeovers The company acquired the developer of photovoltaic projects in France
2009 Contracts/Agreements E.ON Climate & Renewables teamed up with Abengoa Solar to build two
50MW Concentrating Solar Power plants in Spain.
2009 Contracts/Agreements The company entered into a joint venture agreement with RWE AG to
develop new nuclear power stations in the UK.
2009 Corporate Changes/Expansions The company opened a new efficient CHP plant in Sweden.
2009 Incorporation/Establishment A joint venture of the company's Subsidiary E.ON UK and RWE npower
nuclear is fully established
2009 Others The company opened the world's largest wind farm
2008 Acquisitions/Mergers/Takeovers In June, E.ON has acquired Endesa Europa and EnelViesgo.
2008 Contracts/Agreements E.ON and Siemens entered into an agreement to build major offshore
wind farm south of the Danish island of Lolland in the Baltic Sea.
2008 Others E.ON has planned to sell around 2,200 MW of generation capacities
from German power stations to its competitiors, namely, Electrabel and
EnBW.
2008 Others New market units were added including Energy Trading, Russia, Italy
and Climate & Renewables units.
2008 Others The operations of the new E.ON gas power plant began in Italy.
2007 Acquisitions/Mergers/Takeovers The company acquired Skarv-Idun for expanding gas production.
2007 Acquisitions/Mergers/Takeovers The company acquired the North American activities of Irish wind farm
operator Airtricity for $1.4billion to expand its renewables business.
2007 Contracts/Agreements The company signed an agreement with Enel and Acciona.
2007 Contracts/Agreements The company signed shareholders agreement with Turcas to develop,
construct and operate two 800 MW power plants in Turkey.
2007 Others The company started its operations in Russian electricity market.
2006 Acquisitions/Mergers/Takeovers E.ON Ruhrgas acquired the 100 percent of the natural gas trading and
storage operations of MOL and a 75-percent stake in Dalmine Energie
SpA.
2006 New Products/Services E.ON further expanded its portfolio through the acquisition of the gas
trading and storage business of the Hungarian oil and gas company
MOL.
2005 Acquisitions/Mergers/Takeovers The company's subsidiary, E.ON UK, announced the entire purchase of
Enfield, a gas-fired power station near London for approximately
$250.2m.
2005 Plans/Strategy The company's subsidiary E.ON Energie AG, agreed to purchase a
24.62% shareholding of Romanian regional utility Electrica Moldova S.A.
in Romania.
2004 Acquisitions/Mergers/Takeovers E.ON's subsidiary, Powergen, completed the acquisition of Midlands
Electricity, to become the sole owner of the U.K.-based power
distributor.
2004 Plans/Strategy The company announced plans to acquire a majority stake in the gas
business of Hungary's largest oil and gas company, MOL. The
acquisition included a 75% share of MOL's gas trading and storage
units, and 50% of Panrusgaz Hungarian-Russian Gas Industry, an
importer of gas into Hungary from Russia.
2003 Acquisitions/Mergers/Takeovers E.ON completed the acquisition of a 40% interest in Ruhrgas previously
held by ExxonMobil, Shell and Preussag.
2003 Acquisitions/Mergers/Takeovers The company acquired the shares in JME and JCE, the regional utilities
operating in the southern Czech Republic, which had formerly been held
by CEZ, a Czech utility, and Energie of Austria.
2003 Acquisitions/Mergers/Takeovers Through Sydkraft, E.ON acquired a 36% interest in Graninge, a Swedish
energy utility, from Electricite de France (EdF).
2003 Regulation/Government Policy The company met a further requirement stipulated in the ministerial
approval for the acquisition of Ruhrgas through the sale of its 32% stake
in swb AG, a Bremen-based utility company, to EWE of Oldenburg,
Germany.
2002 Acquisitions/Mergers/Takeovers Powergen acquired the retail business of TXU Europe.
2002 Acquisitions/Mergers/Takeovers The company reached an agreement with Fortum, a Finnish energy
utility, to acquire Fortum Energie (FEG) in the same year. This was
followed by the acquisition of PowerGen, the U.K. energy utility, together
with its U.S. subsidiary, LG&E Energy.
2002 Regulation/Government Policy E.ON applied to Germany's Minister for Economics and Technology for
the special ministerial approval for its proposed merger with Ruhrgas.
2001 Contracts/Agreements Degusa acquired Laporte, the U.K.-based specialty chemicals
enterprise. It sold a 51% stake in its VEBA Oel unit to BP in the same
year.
2000 Acquisitions/Mergers/Takeovers E.ON was formed by the merger of VEBA and VIAG, two of Germany's
largest industrial groups.
1994 Acquisitions/Mergers/Takeovers VIAG acquired Bayernwerk AG, a major German energy producer. This
made the company the third largest energy producer in Germany behind
RWE and VEBA.
1929 Incorporation/Establishment The company was established.
Source: GlobalData
E.ON SE - Company Statement
A statement by Mr. Johannes Teyssen, the Chairman and Chief Executive Officer of E.ON SE. is given below. The following
statement has been taken from 2016 annual report.
At the 2016 Annual Shareholders Meeting, an overwhelming majority of you 99.7 percentapproved our plan to reinvent E.ON.
You gave my Management Board colleagues and me a clear task: to do everything we can to make E.ON fit for the future and,
above all, to rethink E.ON from our customers perspective. Their choices regarding our products, services, and solutions will
determine how successful E.ON will be in the new energy world. Thats why we want to meet the needs of our customerspeople,
companies, and communitieswith superior, simple, and convenient energy products and solutions. E.ONs aspiration is to
provide customers with the best that the new energy world has to offer.
One indication of E.ONs great potential is the recent uptick in our stock price. Uniper stock has also done well and, in fact, was
Europes best-performing utility stock of 2016. In dividing E.ON into the new E.ON and Uniper we paid particular attention to
safeguarding your interests. If you kept both stocks, at the end of February 2017 they were worth more together than E.ON stock
was by itself before the spinoff. And from E.ONs perspective, our core businesses are no longer burdened by the risks of the old
energy world, such as the uncertainties of commodity markets. The spinoff relieved your company and its balance sheet of most of
the burdens of the past. For example, we recorded impairment charges on power plants and businesses that the altered business
environment had rendered less valuable and got them off our balance sheet entirely when Uniper was deconsolidated. As we
repeatedly emphasized, 2016 truly was a year of transition.
In 2016 broad agreement with Germanys political leadership was reached on the phaseout of nuclear energy. Germany enacted a
law that reassigns the future responsibilities for, and arranges the funding of, the intermediate and final storage of the countrys
nuclear waste. Negotiations are currently under way for a contractual agreement with the Federal Republic of Germany regarding
these matters. The law will require your company to make a considerable financial contribution in the near future: in mid-2017 well
have to transfer just under EUR10 billion to a public fund. Although we created provisions for a large portionjust under EUR8
billionof these obligations, the risk surcharge imposed by the law has obviously had an adverse impact on our balance sheet. In
return, however, your company will be relieved of these essentially perpetual risks.
The Uniper spinoff and the funding of nuclear-waste storage left deep marks on our balance sheet. We informed you of these
matters early and transparently. In 2016 these burdens of the past affected our income statement for the last time, leading to a net
loss of EUR16 billion. However, the entire amount of this net loss is attributable to discontinued operations and nuclear energy.
With the exception of the risk surcharge, the loss is not cash-effective. Moreover, portions of the loss bear no risk for our equity
either.
But more important than looking back is looking ahead: the new E.ON is already solid from an operating perspective. In 2016 we
posted adjusted EBIT of EUR3.1 billion and adjusted net income of around EUR900 million. Our 2016 earnings were therefore at
the upper end of our forecast range. Adjusted for disposals, the E.ON Groups earnings strength actually improved relative to the
prior year. Sixty-five percent of our adjusted EBIT comes from regulated, quasi-regulated, and long-term contracted businesses.
Our three core businessesenergy networks, customer solutions, and renewablesdeliver stable earnings. In 2016 we generated
adjusted EBIT of EUR2.5 billion. In short, we have a good foundation on which to continue our companys transformation. Im
firmly convinced that much of our success will depend on our adaptability. For us, 2017 will be a year of transformation. We set
five clear objectives:
(1) Well strengthen our balance sheet and make the company financially sustainable. This is the key prerequisite for us to grow in
the future. Although our markets offer many opportunities, our financial resources are limited. Our top priority is therefore to
continue to develop our operating business while systematically prioritizing our investment expenditures (well only pursue the best
projects) and achieving our budget targets. Over the medium and long term, these steps will enable us to establish a sustainable
financial foundation from which to invest in your companys future.
(2) Were putting our customers first. Our new brand ideaLets create a better tomorrowmakes a clear commitment. In
everything we do we need to ask how it benefits our customers, what they want, and what will make their lives better. The answers
weve come up with include roof-top solar panels together with a battery storage system and, in conjunction with Sixt Leasing, a
complete e-mobility package consisting of an electric car, a charging point, maintenance service, and a green power product.
(3) The latest generation of energy products is digitally integrated. Thats precisely our strategy. We intend to be a pacesetter in
the digitalization of the energy business. Increasingly, digitalization will be a defining feature of the solutions we offer our
customers. We already have a successful smartphone app that enables customers to manage their energy consumption and all
their communications with us. Other exciting products are on the way, this year and beyond. New solutions in our network
business such as the efficient systems we developed for the Werksviertel, a former industrial district near Munichs East train
stationalways involve digital networking.
(4) Im convinced that the new E.ON is active in the right markets. The energy future is green, distributed, and digital. But this
market is more fragmented than the conventional energy world. We face different competitors who are swift and agile. Thats why
we need to make E.ON more entrepreneurial and ensure that our offerings are better, more innovative, and faster-to-market than
all the others. When old business models become obsolete, we need to find new ones. To help us achieve all this, we intend to
reduce our bureaucracy this year, to make our organizational setup more customer-centric, and to become leaner, more
decentralized, and more agile.
(5) Management and cultural adaptation are particularly important tasks in this era of continual change. E.ON has a very
knowledgeable and dedicated team of employees who work hard each day to transform our company. We want to inspire them.
Because their efforts will make a key contribution to our success on the road ahead. We also want to further improve how we work
together and cultivate a work environment based on openness, diversity, performance, and mutual respect and support. In short,
we want to create a corporate culture that will make E.ON faster, more customer oriented, and more successful.
All of us are prepared to do our part. E.ON has great potential to become a leading company of the new energy worldthe
company of choice for customers and investors. Its within our power to seize this great opportunity and thus to actively shape the
future of E.ON and the far-reaching changes in our market.
E.ON SE - Locations And Subsidiaries
Head Office
E.ON SE
Brusseler Platz 1
Essen
Nordrhein-Westfalen
45131
Germany
Tel: +49 201 18400
Other Locations and Subsidiaries
E.ON SE , Subsidiaries
E.ON UK plc E.ON Climate & Renewables GmbH
Westwood Way Brusseler Platz 1
Westwood Business Park
Coventry
ENG
CV4 8LG Essen
United Kingdom Nordrhein-Westfalen
Tel: +44 24 76424000 45131
Fax: +44 24 76182153 Germany
Url: www.eon-uk.com Tel: +49 211 45794170
Fax: +49 211 4579465
Url: www.eon.com/renewables
E.ON Kernkraft GmbH E.ON Sverige AB

Tresckowstrasse 5 Carl Gustafs vag 1
Hannover Malmo
Niedersachsen 205 09
30457 Sweden
Germany Url: www.eon.se
Tel: +49 511 43903
Url: www.eon-kernkraft.com
E.ON Energie AG Amrumbank-West GmbH

EON-Platz 1 Germany
Dusseldorf
Nordrhein-Westfalen
40479
Germany
Tel: +49 211 45790
Fax: +49 211 4579501
Url: www.eon.com
E.On U.S. LLC E.ON Hungaria Zrt

220 West Main Street Vaci ut 17
11th Floor Budapest
Louisville 1134
KY Hungary
40202 Tel: +36 1 4722300
United States Url: www.eon-hungaria.com
Tel: +1 502 6273225
Url: www.eon-us.com
E.ON Energy from Waste Helmstedt GmbH Interargem GmbH

Germany Schelpmilser Weg 30
Bielefeld
Nordrhein-Westfalen
33609
Germany
Tel: +49 521 3398000
Fax: +49 521 3398199
Url: www.interargem.de
E.ON Energy from Waste Grobraschen GmbH Bayernwerk AG

Germany Nymphenburger Strasse 39
Munich 2
D-8000
Germany
Tel: +49 89 12543428
Fax: +49 89 12543081
Url: www.bayernwerk.de
E.ON Wasserkraft GmbH E.ON Ruhrgas UK North Sea Limited

EON-Platz 1 129 Wilton Road
Dusseldorf London
Nordrhein-Westfalen ENG
40479 SW1V 1JZ
Germany United Kingdom
Tel: +49 211 45790 Tel: +44 20 30043700
Fax: +49 211 4579501 Fax: +44 20 30043710
Url: www.eon-wasserkraft.com Url: www.eon-ruhrgas-uk.com
E.ON Bayern AG Kernkraftwerk Unterweser GmbH

Heinkelstrabe 1 PO Box 140
Regensburg Stadland
93049 26932
Germany Germany
Tel: +49 941 383900 Tel: +49 47 3280
Fax: +49 941 38393399 Fax: +49 47 328661
Url: www.eon-bayern.com
E.ON Avacon AG E.ON Engineering GmbH

Schillerstrasse 3 Alexander-von-Humboldt-Strae 1
Helmstedt Gelsenkirchen
Niedersachsen 45896
38350 Germany
Germany Tel: +49 2 96015010
Tel: +49 53 531230 Fax: +49 2 96015011
Url: www.eon-avacon.com Url: www.eon-engineering.com
E.ON Bulgaria EAD E.ON Italia SpA

Business Park Varna, Via Amerigo Vespucci, 2
Varna Milano
9009 Lombardia
Bulgaria 20124
Url: www.eon-bulgaria.com Italy
Url: www.eon-italia.com
E.ON Energiaszolgaltato Kft E.ON Netz GmbH

Hungary Bernecker Strasse 70
Bayreuth
Bayern
95448
Germany
Url: www.eon-netz.com
E.ON Ruhrgas E&P GmbH E.ON Energy Projects GmbH

Huttropstr. 60 Karlstrabe 68
Essen Munchen
45138 Bayern
Germany 80335
Tel: +49 201 1844443 Germany
Url: www.eon-ruhrgas-ep.com Tel: +49 89 125401
Url: www.eon-energy-projects.com
E.ON Elektrarne s.r.o. E.ON edis Vertrieb GmbH

SPP Kompresorov stanica 3 Karlstrasse 6
Trakovice Munchen
SK-919 33 Bayern
Slovakia 80335
Tel: +421 2 5441 8768 Germany
Tel: +49 89 125401
Url: www.eon-edis-vertrieb.com
Thor Cogeneration Limited E.On Varme Sverige AB

px House, Westpoint Road Carl Gustaf road 1
Stockton-on-Tees Malmo
Teesside 205 09
TS17 6BF Sweden
United Kingdom Tel: +46 40 255000
Tel: +44 1642 623000
Fax: +44 1642 634145
Url: www.thorcogen.com
Hansa Werk AG E.ON Venture Partners GmbH

Schleswag-HeinGas-Platz 1 Kaistrasse 20
Quickborn Dusseldorf
Schleswig-Holstein Nordrhein-Westfalen
25450 40221
Germany Germany
Tel: +49 385 58975075
Url: www.hansewerk.com
CHN Group Ltd. E.ON Produzione S.p.A.

CHN House, Straits Road Via Andrea Doria, 41/G
Lower Gornal Via Giuseppe Mangili, 9
Dudley Rome
West Midlands Lazio
DY3 2UY 00192
United Kingdom Italy
Tel: +44 1384 212992 Tel: +39 06 95056001
Fax: +44 1384 456773 Url: www.eon-italia.com
Url: www.chngroup.co.uk
E.ON Karnkraft Sverige AB E.ON Energy Limited

Carl Gustafs vag 1 Westwood Way
Skane lan Westwood Business Park
Malmo Coventry
205 09 West Midlands
Sweden CV4 8LG
Tel: +46 40 255000 United Kingdom
Tel: +44 1286 652100
Url: www.eonenergy.com
E.ON Ceska republika, s.r.o. E.ON Distribucion S.L.

Stredisko sluzeb zakaznikum Calle del Medio, 12
Postovni prihradka 54 Santander
Brno 39003
65654 Spain
Czech Republic Tel: +34 942 246000
Tel: +420 840 111333 Fax: +34 942 246034
Url: www.eon.cz
E.ON Vind Sverige AB E.ON UK Cogeneration Limited

Carl Gustaf road 1 WESTWOOD WAY
Malm WESTWOOD BUSINESS PARK
205 09 COVENTRY
Sweden CV4 8LG
Tel: +46 40 255000 United Kingdom
Fax: +46 40 974530
Url: www.eon.se/vind
E.ON Distribuce a.s. E.ON Elnat Stockholm AB

F. A. Gerstnera 2151/6 Sweden
Ceske Budejovice
370 49
Czech Republic
Tel: +420 840 111333
Url: www.eon-distribuce.cz
E.ON Elnat Sverige AB Kraftwerk Plattling GmbH

Nobel Road 66 Arnulfstr. 56
Malmo Munchen
205 09 80335
Sweden Germany
Tel: +46 40 255000
E.ON Climate & Renewables North America Inc E.ON Polska Sp. z o.o
30th Floor Ul. Nabielaka 6
353 North Clark Street Warszawa
Chicago Masovian
IL 00-743
60654 Poland
United States Tel: +48 211 732753700
Tel: +1 312 9239463 Fax: +48 211 732753719
Url: www.eoncrna.com Url: www.eon-polska.com
E.ON Climate & Renewables Italia S.r.l. E.ON Danmark A/S

Via Amerigo Vespucci, 2 Denmark
Milano
20124
Italy
Tel: +39 02 89448301
E.ON New Build & Technology GmbH E.ON Czech Holding AG

Germany Germany
2PRCE Energies SARL Aliden Vind AB

France Sweden
Anacacho Wind Farm, LLC BioMass Nederland b.v.
United States Netherlands
Biogas Steyerberg GmbH Bioerdgas Schwandorf GmbH

Germany Germany
ANCO Sp. z o.o. Aquila Power Investments Limited

Poland United Kingdom
Bjorn Kraft Oy Champion WF Holdco, LLC

Finland United States
Debreceni Kombinalt Ciklusu Eromu Kft Dutchdelta Finance SARL

Hungary Luxembourg
E.ON Argentina S.A. E.ON Climate & Renewables Canada Ltd.

Argentina Canada
E.ON Climate & Renewables Carbon Sourcing Pte Ltd E.ON Europa, S.L.
Singapore Ribera Del Loira 60
Madrid
MAD
28042
Spain
Tel: +34 915 668800
Fax: +34 915 638181
E.ON Slovensko, a.s. E.ON Renovaveis Portugal, SGPS S.A.

Slovakia Portugal
E.ON Ruhrgas Dogalgaz A.S. Infrastructure Alliance Limited

Turkey Jersey
United Kingdom
PEG Infrastruktur AG E.ON Bayern Verwaltungs AG

Switzerland Germany
E.ON Climate & Renewables UK Developments Limited E.ON Climate & Renewables UK Operations Limited
United Kingdom United Kingdom
E.ON Climate & Renewables UK Robin Rigg East Limited E.ON Climate & Renewables UK Robin Rigg West Limited
United Kingdom United Kingdom
E.ON Energy Trading Bulgarien EOOD E.ON Energy Trading Holding GmbH
Bulgaria Germany
E.ON Energy Trading S.p.A. MEON Pensions GmbH & Co. KG

Italy Germany
MEON Verwaltungs GmbH Mer. Wind S.r.l.

Germany Italy
E.ON Ruhrgas E&P Russia Terminal Alpi Adriatico S.r.l.

Russia Italy
The Power Generation Company Limited E.ON IT Sverige AB

United Kingdom Sweden
E.ON IT UK Limited E.ON JobCenter Sverige AB
United Kingdom Sweden
E.ON Kraftwerke 6. Beteiligungs-GmbH E.ON Kundsupport Sverige AB

Germany Sweden
DOTTO MORCONE S.R.L. e.dialog Netz GmbH

Italy Germany
e.distherm Warmedienstleistungen GmbH e.inkasso GmbH

Germany Germany
E.ON Achtzehnte Verwaltungs GmbH E.ON Austria GmbH

Germany Austria
GCE Energies SARL Gelsenberg GmbH & Co. KG

France Germany
Gelsenberg Verwaltungs GmbH E.ON Climate & Renewables Central Europe GmbH
Germany Brusseler Platz 1
Essen
Nordrhein-Westfalen
45131
Germany
Tel: +49 211 45794170
Fax: +49 211 4579465
Url: www.eon.com
E.ON Climate & Renewables Iberia E.ON Climate & Renewables UK Limited
Iberia Westwood Way
MAD Westwood Business Park
Spain Coventry
West Midlands
CV4 8LG
United Kingdom
Eolica de la Sierra del Almuerzo, S.A.U. E.ON Climate & Renewables UK Zone Six Limited
Soria Westwood Way
Spain Westwood Business Park
Coventry
West Midlands
United Kingdom
E.ON E&P Norway AS E.ON Hanse Warme GmbH

Norway Am Radeland 25
Hamburg
Hamburg
21079
Germany
Tel: +49 40 2378270
Fax: +49 40 23782710
Url: www.eon-hanse-waerme.com
E.ON Energy Trading AB E.ON Russia Power

Sweden Krasnopresnenskaya nab.
18 B, 23rd Floor
Moscow
123317
Russia
Url: www.eon-russia.com
E.ON Connecting Energies GmbH GELSENWASSER Beteiligungs-GmbH

Brusseler Platz 1 Germany
Essen
Nordrhein-Westfalen
45131
Germany
Tel: +49 201 1844888
Url: www.eon-connecting-energies.com
E.on Energihandel Nordic Aktiebolag E.On Energie, A.S.

F. A. Gerstnera 2151/6
Ceske Budejovice
37001
Czech Republic
Tel: +420 387 861111
Url: www.eon.cz
E.ON Energy Services E.ON Metering GmbH

1st floor Larch End Carl-von-Linde-Strasse 38
Unterschleissheim
241 High Street Bayern
85716
Kingswinford Germany
ENG Tel: +49 89 125404
DY6 7QQ Fax: +49 89 12545359
United Kingdom Url: www.eon.com
E.ON Energie Deutschland GmbH KGW - Kraftwerk Grenzach-Wyhlen GmbH

Germany Germany
E.ON Bioerdgas GmbH E.ON Bayern Vertrieb GmbH

North Rhine-Westphalia Prufeninger Strabe 20
Essen Regensburg
Germany Germany
Tel: +49 201 1847831 Tel: +49 941 201 3999
Fax: +49 941 201 2813
Url: www.eon-bayern-vertrieb.com
E.ON Italia Power & Fuel S.R.L. E.ON Avacon Vertrieb GmbH
Via Valnerina, 9 Schillerstr. 3
Papigo Terni Helmstedt
Umbria Germany
Italy Tel: +49 1801 282 266
Tel: +39 07444951 Fax: +49 5351 403 59
Url: www.endesaitalia.it Url: www.eon-avacon-vertrieb.com
E Wie Einfach Strom & Gas GmbH

Salierring 47-53
Koln
Germany
Tel: +49 221 177370
Fax: +49 221 17737210
Url: www.e-wie-einfach.de
Source: GlobalData
E.ON SE , Affiliate
Parnaba Gas Natural S.A.
Praia de Botafogo n 228
13 andar
Rio de Janeiro
Rio de Janeiro
Brazil
Fax: +55 21 25555202
Source: GlobalData
E.ON SE , Joint Venture

Eneva SA TPG Wind Ltd.
7 Floor United Arab Emirates
Praia de Botafogo, 501 - Torre Pao de Acucar
Rio de Janeiro
Rio de Janeiro
22250-040
Brazil
Tel: +55 21 37213030
Fax: +55 21 37213001
Url: www.eneva.com.br
Yorkshire Windpower Limited Gaz de Normandie S.A.S

United Kingdom 44 rue Washington
Cedex 8
Paris
Ile-de-France
75408
France
Tel: +33 1 70607413
Fax: +33 1 70607430
Url: www.gazdenormandie.com
Adria LNG d.o.o.

Radnicka cesta 47/II
Zagreb
10000
Croatia
Tel: +385 1 6064400
Url: www.adria-lng.hr
Source: GlobalData
E.ON SE - Business Description
E.ON SE (E.ON) is an energy supplier that generates and distributes electricity. It also carries out natural gas distribution
operations. It also has presence in renewable energy in the US and has interest in a joint venture in Turkey. The company is also
active in nuclear power generation in Germany. It operates in eight countries across Europe, serving over 30 million customers.
E.ON operates through three core segments: Energy Networks; Customer Solutions and Renewables, which generated
EUR13,334 million, EUR21,948 million and EUR890 million, respectively. Its other segments include Non-Core Business
comprising nuclear power business managed by PreussenElektra; and Corporate Functions/Other.
E.ON continues to invest in its core businesses with a focus on selective and disciplined capital allocation. The company focuses
systematically to tap significant opportunities in the new energy, renewables and distributed energy, energy efficiency, local energy
systems, and digital solutions. In FY2016, the companys capital investments were EUR3,169 million, which decreased 2%. In
FY2017, it expects to invest EUR3,600 million, of which 42% was on renewables business, 39% on energy networks and 19% on
customer solutions.
Business Description - Customer Solutions
Customer Solutions - Key Stats

-No of Customers: 22.3 million
-Power Sales: 149 TWh
-Gas Sales : 148.6 Twh
Customer Solutions - Performance

Reported revenue of EUR890 million for FY2016, which decreased 12.6% YoY (2016 vs 2015). The segment accounted for 57.5%
of the company's total revenue in FY2016. Its adjusted EBITDA was EUR1,110 million, which declined 0.2% YoY (2016 vs 2015).
In FY2016, the segments revenue decreased owing to a fall in sales volume, declining customer numbers, and a reduction in
power and gas prices in Germany, the UK, in Hungary and the Czech Republic, along with the sale of an equity interest in gas
business in Italy.
Customer Solutions - Overview

The segment comprises energy sales, heat and new solutions business. Its product offering includes power and gas sales, district
and local area heating solutions, and new solutions, such as on site generation, virtual power plants, energy efficiency, smart
metering, smart home and software solutions, e-mobility, PV and battery. It serves customers within B2C, B2B SME, B2B Large
and B2M segments.
- Presence in Germany, the UK, Sweden, Italy, the Czech Republic, Hungary, and Romania
- E.ON Connecting Energies, which provides customers with turn-key distributed energy solutions, is also part of the segment
In FY2016, the companys capital investments were around EUR0.6 billion, which grew 9% YoY (2016 vs 2015). In FY2017, it
expects to invest EUR0.7 billion on metering, upgrade, and efficiency projects, and heat and biomass projects in Sweden and the
UK.
Considers expanding its offerings in the physical and digital new energy world as the major growth driver
Business Description - Energy Networks
Energy Networks - Performance

Reported revenue of EUR13,334 million for FY2016, which grew 7.8% YoY (2016 vs 2015). The segment accounted for 35% of
the company's total revenue in FY2016. Its adjusted EBITDA was EUR2,679 million, which decreased 2% YoY (2016 vs 2015).
-Germany sub-segment reported revenue of EUR11,622 million, which grew 8.4% YoY, and accounted for 8.7% of the segment's
revenue
-Sweden reported revenue of EUR1,014 million, which grew 4.2% YoY, and accounted for 7.6% of the segment's revenue
-East-Central Europe/Turkey reported revenue of EUR698 million, which grew 2.5% YoY, and accounted for 5.2% of the
segment's revenue
Revenue growth in FY2016 was primarily driven by higher sales in Germany to Renewable Energy Law (REL) compensation and
higher gas passthrough. Revenue also grew owing to higher sales in Sweden due to volume factors.
Energy Networks - Key Stats

-Renewables Connections: 390,000
-Distributed Volumes Power: 150 TWh
-Distributed Volumes Gas: 156 TWh
-Grid Length Power: 755 tkm
-Grid Length Gas: 104 tkm
-Regulatory Asset Base (RAB) power and gas: EUR19 billion
-Gas Connection Points: 2.2 million
-Power Connection Points: 11.5 million
-More than 1 million kilometers of energy networks in Europe
Energy Networks - Overview

Provides the infrastructure for power and gas distribution across certain counties in Europe and Turkey. The segment is
subdivided into three regional markets: Germany, Sweden, and East-Central Europe/Turkey (Czech Republic, Hungary, Romania,
Slovakia, and Turkey). It operates networks, carries out maintenance and repairs, and expands its networks through the addition of
customer grid connections. It also manages energy flows at the voltage level below Transmission System Operator (TSO).
-Major projects include InterFlex, the European smart grid project, and ENSURE- New Energy Network Structures for the Energy
Transition in Germany
E.ON continues to invest on expansion of distribution networks in Germany and Sweden. In FY2016, the companys capital
investments on this segment stood at EUR1.42 billion, which decreased 7% YoY (2016 vs 2015). In FY2017, it expects to invest
EUR1.4 billion to expand its intermediate- and low-voltage networks, switching equipment, and metering and control technology to
ensure the reliable and uninterrupted transmission and distribution of electricity.
Views creation of intelligent networks for the distributed energy solutions as the major growth driver
Business Description - Europe
Europe - Performance
Reported revenue of EUR6,128 million for FY2016, which decreased 10.6% YoY (2016 vs 2015), and recorded negative growth of
29.2% during 2012-2016. Europe accounted for 16.3% of the company's total revenue in FY2016.
Europe - Target Markets

Italy, the Czech Republic, Hungary, Slovakia and Romania
Business Description - Germany
Germany - Performance
17.4% during 2012-2016. Germany accounted for 57.1% of the company's total revenue in FY2016.
Germany - Target Markets

Entire Germany
Business Description - Other
Other - Performance
Reported revenue of EUR189 million for FY2016, which decreased 9.1% YoY (2016 vs 2015), and recorded negative growth of
33.2% during 2012-2016. Other accounted for 0.5% of the company's total revenue in FY2016.
Other - Target Markets

Other countries
Business Description - Renewables
Renewables - Key Stats
-Owned Capacity: 4.6 GW; Offshore: 1.1 GW and Onshore + PV: 3.5 GW
-Operated Capacity: 5.3 GW; 3.2 GW in the US and 2.1 GW in Europe
-Owned Power Production: 10.4 billion kWh
Renewables - Performance
Reported revenue of EUR890 million for FY2016, which grew 27% YoY (2016 vs 2015). The segment accounted for 2.3% of the
company's total revenue in FY2016. Its adjusted EBITDA was EUR796 million, which increased 6.1% YoY (2016 vs 2015).
- Onshore Wind/Solar reported revenue of EUR728 million, which declined 23.9% YoY, and accounted for 53.65% of the
segment's total revenue
- Offshore Wind/Other reported revenue of EUR629 million, which grew 20% YoY, and accounted for 46.35% of the segment's
total revenue
In FY2016, higher sales in Offshore Wind/Other due to commissioning of Colbecks Corner wind farm in the US and a capacity
increase at Amrumbank West wind farm in the German North Sea led to growth in revenue.
Renewables - Overview
Focuses on offshore and onshore wind and utility scale solar photovoltaic power generation, and energy storage. It plans, builds,
operates, and manages renewable generation assets. It also provides wind operations and maintenance, asset management,
energy management services to third parties. It markets output under long-term electricity supply agreements with key customers,
and directly to the wholesale market.
-Key operating countries include Germany, the UK, the US, Denmark, Sweden, Poland and Italy.
In FY2016, the companys capital investments on this segment stood at EUR1.07 billion, which decreased 6% YoY (2016 vs
2015). In FY2017, it expects to invest EUR1.5 billion on offshore wind farms such as Rampion and Arkona in Europe and onshore
farms such as Radford Run and Bruenning Breeze in the US.
Deems focus on attractive target regions such as Europe and North America and customer-relevant technologies as the major
growth drivers
Business Description - Sweden
Sweden - Performance
Reported revenue of EUR2,139 million for FY2016, which increased 7.2% YoY (2016 vs 2015), and recorded negative growth of
14.9% during 2012-2016. Sweden accounted for 5.6% of the company's total revenue in FY2016.
Sweden - Target Markets

Entire Sweden
Business Description - UK
UK - Performance
25.1% during 2012-2016. The UK accounted for 20.5% of the company's total revenue in FY2016.
UK - Target Markets
Entire UK
E.ON SE - Corporate Strategy
The company intends to focus on renewables, distribution networks, and customer solutions and combine its conventional
generation, global energy trading, and exploration and production businesses in a new, independent company, a majority of which
will be spun off to E.ON SE. The future E.ON will focus on renewables. The company also intends to transfer its conventional
upstream and midstream businesses to a new company, which will focus on the conventional energy.
E.ON SE - SWOT Analysis
SWOT Analysis - Overview

E.ON SE (E.ON) operates in the power and gas business, ranging from power generation and gas production to distribution and
sales to customers. Business performance of energy networks, vertically-integrated and diverse business model and research and
development are its major strengths, even as business performance of customer solutions is an area of concern. E.ON could
benefit from its partnerships and agreements and growth prospects for wind energy in Europe. However, nuclear decommissioning
in Germany and intense competition could pose challenges to the company.
E.ON SE - Strengths
Business Model: Integrated and Diversified

An integrated business model and diversity in generation and territory enables it to operate efficiently and capitalize on the
emerging opportunities. E.ON has a presence in the energy value chain, which enables it to cater to a substantial customer base
and achieve cost advantages. The companys business operations range from the production of oil and gas through conversion
into electricity, transmission, distribution, trading, and supply of energy to customers. Its integrated power and gas business model
enables it to exploit opportunities stemming from looming capacity shortages and converging European power and gas markets.
The company focuses on creating value by expanding its asset base in electricity and gas in Europe, while continuing to reduce
carbon exposure and invest in renewable energy. The companys diverse business lines include production, distribution, trading
and retailing of power and gas. It uses a diverse generation mix including nuclear, hard coal, biomethane, oil/gas, wind, solar PV
and other sources.
Focus on Research and Development Activities

The company focuses on R&D for the development of new projects for the E.ON Innovation Centers. E.ON works in partnership
with universities and research institutes to conduct research in a variety of areas. The flagship partnership of the company is with
the E.ON Energy Research Center at RWTH Aachen University in Germany. In FY2016, the company invested EUR14 million on
its research and development operations. In customer solutions the company focuses on developing on-line tools to engage with
its residential customers and small and medium sized businesses. It aims to implement smart home systems that meet the
customers needs on cost, comfort and convenience, and provide them with efficient and renewable heat and power solutions.
With commercial customers it focuses on growing through new energy management systems and through heat, power and cooling
solutions which use energy generated on-site. In Energy Intelligence the company focuses on increasing efficiency at E.ON sites
by analyzing data gathered from assets and using it to predict and improve performance and maintenance. In Smart grid, the aims
to minimize the cost and complexity of E.ONs roll-out of smart meters. New technologies are being developed that will make real
savings on operating costs and optimize investments for electricity, gas and heat networks.
Business Performance: Energy Network

E.ONs energy network segment is the second largest contributor to its revenue stream. In FY2016, the segment accounted for
35% of the total companys revenue and increased 7.8% year-on-year. For the FY2016, the segment reported revenue of
EUR13,334 million, as compared to EUR12,373 million in FY2015. The company reported an increase in sales in Germany by
7.3% to EUR13,205 million in FY2016 as compared to EUR12,312 million in FY2015, primarily because of higher sales in
conjunction with the REL. The rise is mainly attributable to increase in installed generating capacity and in the amount of electricity
fed into the companys distribution networks. The sales also increased owing to higher gas passthrough.
E.ON SE - Weaknesses
Business Performance: Customer Solutions

The companys energy network segment is the largest contributor to its revenue stream. In FY2016, the segment accounted for
57.5% of the total companys revenue and decreased 12.6% year-on-year. For the FY2016, the segment reported revenue of
EUR21,948 million, as compared to EUR25,102 million in FY2015. The segment reported a decline in power sales by 2.6% and
gas sales by 14%. This segment had around 21.4 million customers as of December 31, 2016, compared to 22.7 million in the
previous year. The power sales in Germany to residential and small and medium enterprise customers were lower due to a
reduction in average consumption and to keen competition. The power sales to industrial and commercial customers and to sales
partners declined, primarily because of the transfer of E.ON Energie Deutschlands wholesale customers to Uniper Energy Sales
at the end of 2015. The power sales in the UK decreased due to declining customer numbers and customers energy-saving
behavior. The segment also reported a decline in gas sales by 5.8% due to lower customer numbers.
E.ON SE - Opportunities
Growth Prospects for Renewable Energy: Wind

The increasing necessity to secure energy supply, energy independence and minimization of carbon footprint is leading to growth
in demand for renewable sources of energy such as wind. According to European Wind Energy Association's (EWEA) latest
findings, European Union (EU) countries are expected to install 75 GW of wind energy by 2020, reflecting an increase of 64% in
installed wind power capacity, bringing the total to 192.4 GW by 2020 with offshore installations amounting to 23.5 GW. EWEA
expects total investments of up to EUR124 billion in wind energy by 2020 with Germany, France, the UK, Poland and Italy being
the leading markets. Regulatory stability is not fully achieved throughout Europe; however, in major onshore markets such as
Germany, France, the UK and Poland, policy reforms have been finalized rapidly and the new regulatory frameworks are
conducive to growth in wind power installations. Increasing confidence in the UK, faster deployment in France and the Netherlands
will help push offshore installations in the EU to 23.5 GW. EWEA estimates production of 442 TWh of wind power, which could be
sufficient to meet 14.9% of electricity consumption in 2020.
Partnerships and Agreements

As part of its business strategy, the company establishes collaborations and agreements with other companies to enhance its
business portfolio and bring non-dilutive capital into the company. In March 2017, E.ON entered into a partnership with Dow
Benelux to build, own and operate a large gas-fired boiler plant for their largest production site in Europe. The new boiler plant will
be able to generate up to 350 tons of steam per hour for the production processes on the Terneuzen site and will be taken into
operation by the end of 2019. In the same month the company entered into a partnership with CLEVER to roll out ultra-fast
charging stations for electric vehicles along the main European motorway corridors. This partnership will bring ultra-fast chargers
to initially 20 YX service stations across Norway. The ultra-fast chargers will be installed from 2018 to 2020. In February 2016, the
company entered into a partnership with Dresden-based SOLARWATT GmbH. Under the terms of partnership, the company will
develop its own electricity storage system. Through the new electricity storage system, the company will become a leading
provider of electricity storage systems in Germany and continually expand its intelligent solutions for its customers.
Business Initiatives
Business initiatives would help the company to expand its presence and improve financial performance. In line with this, in March
2017, E.ON has launched pilot projects for the rollout of smart meters. After the completion of the rollout in 2027, around 20% of all
electricity customers in Germany are expected to have these intelligent metering systems. In February 2016, the companys
offshore wind farm Amrumbank West was officially put into operation. The Amrumbank West is another lighthouse project for wind
power at sea. The project will be followed by offshore wind projects to make sure the energy industry and industrial policy potential
of offshore wind is not left untapped.
E.ON SE - Threats
Safety Concerns: Nuclear Decommissioning

The safety concerns regarding nuclear power plants have led many countries to switch from nuclear energy to other sources of
energy, which resulted in the need to decommission nuclear plants. Nuclear accidents such as those at the Chernobyl nuclear
power plant and Three Mile Island generating station led to anti-nuclear sentiments globally. In the recent past, Germany imposed
a three-month moratorium on the extension of operations of existing nuclear power plants in the country, after which it shut down
seven of the countrys oldest nuclear reactors. Later, the government decided to conduct safety assessments to ensure the safety
of nuclear power plants. However, the German government eventually decided to completely phase out nuclear energy from
energy generation in the country. Germanys nuclear power plants are now likely to be shut down by 2022 at the latest.
Decommissioning of nuclear reactors due to safety concerns globally will compel E.ON to look at alternative sources for
generation.
Competition
E.ON operates in a highly competitive power industry. Failure to sustain competitive advantage in such a highly competitive
industry will affect the companys market share. It encounters competition from independent power producers (IPPs), trading
companies, retail electric providers, cooperatives and regulated utilities to supply electricity and electricity related products. In the
power production markets, the companys competitors may have extensive and diversified developmental or operating experience
and greater financial resources. In recent years, competition is increasing in the electricity industry in obtaining power sales
agreements and acquiring existing power generation assets. In certain markets, these factors led to reduced electricity prices, and
caused higher acquisition prices for existing assets. The competitive electricity markets and highly efficient gas-fired power plants
also led to price pressures in certain power markets. This is likely to exert pressure on the companys pricing policy. As alternative
energy is becoming an increasingly lucrative option, a significant number of players are entering the market, which increased
competition among power producers.
Reliability Concern: Gas Supplies

The company procures natural gas from Russia, Norway, Germany, the Netherlands and the UK. It is active at various gas trading
markets in Europe. However, it faces the risk of supply interruptions from gas procurement sources, which could be due to
technical problems at production facilities or the transmission system that may affect gas transmission. Moreover, some of the
recent events in Eastern Europe heightened concerns in parts of Western Europe about the reliability of Russian gas supplies. The
companys reliance on a few markets increases uncertainty as non-reliability of gas supplies could increase its business risks.
E.ON SE - Key Competitors
E.ON SE , Key Competitors
Name Headquarters Revenue (US$ m)
Electricite de France S.A. France 78,789
Enel S.p.A. Italy 75,913
Engie S.A. France 73,739
RWE AG Germany 50,716
Vattenfall AB Sweden 17,849
PGNiG SA Poland 8,425
Shell Deutschland Oil GmbH Germany 30
Stadtwerke Munchen GmbH Germany -
Source: GlobalData
Company Financial Ratios
Financial Ratios - Capital Market Ratios
E.ON SE , Ratios based on current share price

Key Ratios 13-Sep-2017
P/E (Price/Earnings) Ratio 3.47
EV/EBITDA (Enterprise Value/Earnings Before Interest, Taxes, Depreciation and 13.35
Amortization)
Enterprise Value/Sales 0.73
Enterprise Value/Operating Profit 8.37
Enterprise Value/Total Assets 0.44
Dividend Yield 0.02
Market Cap (Million EUR) 20,746.12
Enterprise Value (Million EUR) 27,999.12
Note: Above ratios are based on share price as of 13-Sep-2017, the above ratios are absolute numbers
Source: GlobalData
Financial Ratios - Annual Ratios

E.ON SE , Annual Ratios
Key Ratios Unit/Curr 2012 2013 2014 2015 2016
ency
Equity Ratios
EPS (Earnings per Share) EUR 1.13 1.05 -1.56 -1.46 2.76
Dividend per Share EUR 1.10 0.60 0.50 0.50 0.21
Dividend Cover Absolute 1.03 1.74 -3.12 -2.92 13.15
Book Value per Share EUR 18.49 17.68 12.72 8.41 -0.54
Cash Value per Share EUR 3.46 3.76 2.59 3.72 3.95
Profitability Ratios
Gross Margin % 13.06 11.96 11.90 23.42 16.73
Operating Margin % 3.48 4.16 -0.61 -0.19 -1.33
Net Profit Margin % 1.66 1.75 -2.79 -16.41 -22.14
Profit Markup % 15.02 13.58 13.51 30.57 20.09
PBT Margin (Profit Before Tax) % 2.48 2.57 -2.12 -3.50 -4.52
Return on Equity % 6.21 6.20 -12.85 -42.60
Return on Capital Employed % 4.33 4.99 -0.77 -0.10 -1.25
Return on Assets % 1.54 1.58 -2.51 -6.16 -13.27
Return on Fixed Assets % 4.72 5.21 -0.84 -0.11 -1.09
Return on Working Capital % 51.93 117.61 -9.94 -1.22
Growth Ratios
Sales Growth % 16.94 -9.39 -5.51 -62.28 -10.51
Operating Income Growth % 8.37 -113.93
EBITDA Growth % 100.29 -0.81 -23.65 -33.96 -49.77
Net Income Growth % -4.48 -251.12
EPS Growth % 56.59 -39.38 -40.75 67.69 105.26
Working Capital Growth % 95.86 -52.15 64.81 -4.95 -186.21
Cost Ratios
Operating Costs (% of Sales) % 96.52 95.84 100.61 100.19 101.33
Administration Costs (% of Sales) % 4.08 4.33 3.67 7.02 7.44
Liquidity Ratios
Current Ratio Absolute 1.25 1.13 1.20 1.20 0.75
Quick Ratio Absolute 1.11 1.00 1.10 1.12 0.72
Cash Ratio Absolute 0.18 0.22 0.14 0.22 0.33
Leverage Ratios
Debt to Equity Ratio % 0.72 0.67 0.80 1.08 -13.49
Net Debt to Equity Absolute 0.53 0.46 0.60 0.64
Debt to Capital Ratio % 0.24 0.23 0.22 0.22 0.35
Efficiency Ratios
Asset Turnover Absolute 0.93 0.90 0.90 0.38 0.60
Fixed Asset Turnover Absolute 2.45 2.39 2.74 1.09 1.51
Inventory Turnover Absolute 24.25 25.41 29.69 12.83 40.49
Current Asset Turnover Absolute 2.94 3.26 2.65 1.06 2.19
Capital Employed Turnover Absolute 3.75 3.55 4.60 2.60 -36.18
Working Capital Turnover Absolute 14.92 28.25 16.20 6.43
Revenue per Employee EUR 893,479.00
Net Income per Employee EUR -
197,781.00
Capex to Sales % 4.83 3.74 3.53 6.99 7.95
R&D to Sales % 0.03 0.06
Source: GlobalData
Performance Chart
E.ON SE , Performance Chart
Source: GlobalData
Financial Performance
The company reported revenues of (Euro) EUR 38,173.00 million during the fiscal year ended December 2016, a decrease of
10.51% from 2015. The operating loss of the company was EUR 506.00 million during the fiscal year 2016, as compared to an
operating loss of EUR 81.00 million during 2015. The net loss of the company was EUR 8,450.00 million during the fiscal year
2016, as compared to a net loss of EUR 6,999.00 million during 2015.
Financial Ratios - Ratio Charts
E.ON SE , Ratio Charts
Sales Growth
Source: GlobalData

EPS
Source: GlobalData
Operating Margin
Source: GlobalData

Return on Equity
Source: GlobalData
Return on Assets
Source: GlobalData

P/E Ratio
Source: GlobalData
Debt to Equity Ratio
Source: GlobalData

Current Ratio
Source: GlobalData
E.ON SE , Recent Deals Summary
E.ON SE , Recent Deals Summary
Deal Date Deal Status Deal Type Acquirer (s) / Target / Vendor Deal Value
Investor (s) Issuer / (US $ million)
/Surviving Partner (s)
Entity
01 Jun 2017 Completed Partnerships E.ON Climate NA
& Renewables
GmbH ,
Greensmith
Energy
Management
Systems ,
Tucson
Electric Power
Company
15 May 2017 Completed Debt Offerings E.ON SE 819.59
10 May 2017 Planned Acquisition Undisclosed Uniper SE E.ON SE NA
Company
03 May 2017 Completed Partnerships E.ON SE , NA
Google Inc
02 May 2017 Completed Acquisition REGIOCOM DIGIMONDO E.ON SE NA
GMBH GmbH
27 Mar 2017 Planned Debt Offerings E.ON SE 3,237.99
16 Mar 2017 Announced Equity Undisclosed E.ON SE 1,435.19
Offerings Investor(s)
07 Mar 2017 Announced Equity E.ON SE Elcore GmbH NA
Offerings
Source: GlobalData
Companys Recent Developments
Sep 07, 2017: LOC Renewables signs MOU to boost Taiwanese offshore wind
LOC Renewables together with four other parties, signed a Memorandum of Understanding (MOU) outlining their intention to work
together to further offshore wind farm development and construction in Taiwan.
Together with the CR Classification Society, Taiwan Institute of Economic Research, Taiwan Electric Research & Testing Center
and Electronics Testing Center, LOC will look to enhance the quality, safety and reliability of offshore wind farm construction in the
South China Sea region.
With offices throughout the region in Seoul, Singapore and Vung Tau, Vietnam, LOC s team of offshore renewable engineering
consultants are ideally placed to support our Taiwanese colleagues as they look to expand the country s offshore wind capacity
and attract developers," said RV Ahilan, Group Director of Renewables Advisory & Energy Technology at LOC Renewables.
LOC has long been involved in offshore wind energy in Asia, having acted as technical consultant on the Bac Lieu wind farm in
Vietnam when the first phase began construction back in 2011. We re looking forward to bringing this experience, and the vast
knowledge we have built up in European offshore wind energy, to the fledgling Taiwanese market - helping it to fulfil its potential,"
he added.
Hard on the heels of having marine warranted the Tamra project in Korea, LOC Korea is currently providing marine warranty
surveying services on the country s 60MW Southwest Offshore wind farm, demonstrating successful knowledge transfer from the
European offshore wind industry to the growing Asian offshore wind industry.
Under the terms of the MOU, the five parties will co-operate and share expertise in a number of areas, most notably construction,
research into suitable technologies and marine warranty surveying. In addition, the co-signers will host a technical seminar on
these topics.
As the Taiwanese offshore wind industry develops, LOC Renewables will assist in the evaluation and review of offshore wind
projects, from conception and planning through to operations and maintenance.
Dr Liou Ming-Jong, Director General of the Bureau of Standards, Metrology & Inspection at Taiwan s Ministry of Economic Affairs,
and who witnessed the Memorandum, said: Cooperation with LOC in marine warranty survey (MWS) will play an important role
for insurers underwriting for the Taiwanese offshore wind farm construction. We plan to have our third party certification team
work with LOC to carry out MWS for Taiwanese offshore wind farms, and further promote these investment opportunities to the
whole industry."
Following yesterday s signing of the MOU, and in addition to hosting a delegation consisting of representatives from each of the
other co-signing bodies, LOC Renewables took its guests to a briefing, hosted by E.ON as construction service provider to the
Rampion Offshore Wind project currently being built off the UK south coast by E.ON, the Green Investment Bank Ltd and
Enbridge.
Sep 06, 2017: E.ON starts construction of Texas Waves power storage plant in US
E.ON has started the construction of its 20MW Texas Waves power storage project in the USA.
The storage facility (2 x 2.5 MWh) is being constructed on the sites of the pre-existing E.ON wind farms Pyron and Inadale in West
Texas.
As an integral part of the wind farms, Texas Waves will be able to react quickly for the network operator, Electric Reliability
Council of Texas (ERCOT) to cope with changes in the energy requirements and thereby increase both the reliability and
efficiency of the system.
With both the industrial-scale 10 MW plants, E.ON is expanding its role as an important player in the North American power
storage market. These are the second and third-largest lithium ion battery systems which are connected to the network which
E.ON has installed in the USA. The power storage systems will be taken into operation at the end of 2017.
E.ON's first storage project, Iron Horse, consists of a 10 MW battery and an associated 2 MW solar power plant south-east of
Tucson, Arizona. The system has already been commissioned, and helps support the power supplier - Tucson Electric Power
(TEP) - with frequency and voltage control providing reliable electricity to over 400,000 customers.
Sep 06, 2017: E.ON starts construction on Texas Waves energy storage projects
German energy company E.ON has started construction on its Texas Waves energy storage projects at its existing E.ON Pyron
and Inadale wind farms in West Texas, US.
The Texas Waves comprises two 9.9MW short duration energy storage projects, which uses lithium-ion battery technology. The
projects will bepart of the wind farm facilities nearRoscoe, Texas.
The grid connected lithium-ion battery systems will be installed by E.ON and will start its operations by the end of 2017.
The first grid connected lithium battery system project installed by E.ON in Arizona isIron Horse, which comprises 10MW energy
storage facility.
The project which is currently in operationsprovides frequency regulation and voltage control support, enabling Tucson Electric
Power (TEP) to offerreliable electric serviceto over 400000 customers.
Texas Waves, which increases system reliability and efficiency, will deliver ancillary services to the Electric Reliability Council of
Texas (ERCOT) market.
While Greensmith Energy has been selected byE.ON for theenergy storage software and services, Primoris Renewable Energy
will handle the engineering, procurement and construction on the Texas Waves projects.
E.ON, which offers O&M and asset management services to third party operators, has constructed and commissioned over
3100MW of solar and wind renewable energy generation across the US.
E.ON vice president of energy storage North America Mark Frigo said: "Breaking ground on this project is particularly exciting as it
allows us to continue to build our reputation as one of the leading players in North American energy storage. These projects will
benefit from the lessons learned and experience accumulated on our Iron Horse project, completed back in April."
Established in 2000, E.ON employs over 40000 people and operates in 90 countries. The firm is a privately-owned energy
supplier that aims at renewables, energy networks and customer solutions.
E.ON provides gas and electricity to over 33m customers. The company operates around 5.4GW of renewable energy and has
invested over $11bn.
Sep 05, 2017: E.ON breaks ground on Texas Waves Energy Storage Projects
E.ON began construction on its Texas Waves energy storage projects co-located at the existing E.ON Pyron and Inadale wind
farms in West Texas.
Texas Waves consists of two 9.9 megawatt (MW) short duration energy storage projects using lithium-ion battery technology and
will be an integral part of the wind farm facilities nearRoscoe, Texas.
These projects will be the second and third grid connected lithium-ion battery systems installed by E.ON inNorth Americaand are
expected to be online by the end of 2017.
"Breaking ground on this project is particularly exciting as it allows us to continue to build our reputation as one of the leading
players in North American energy storage," saidMark Frigo, VP of Energy Storage North America at E.ON. "These projects will
Iron Horse, E.ON's first grid connected lithium battery system project, consisting of a 10 MW energy storage facility with an
adjacent 2 MW solar array southeast ofTucson, Ariz., is online and helping Tucson Electric Power (TEP) maintain reliable electric
service for more than 400,000 customers by providing frequency regulation and voltage control support.
Texas Waves are designed to provide ancillary services to the Electric Reliability Council ofTexas(ERCOT) market and will be
capable of responding to shifts in power demand more quickly, increasing system reliability and efficiency.
E.ON designated Greensmith Energy for energy storage software and services and has selected Primoris Renewable Energy for
engineering, procurement and construction on the Texas Waves projects.
E.ON has developed, built and operates more than 3,100 MW of solar and wind renewable energy generation across the U.S.,
with more on the way. E.ON also offers O&M and asset management services to third party owner/operators looking for "Service
with an Owner's Eye."
Sep 05, 2017: E.ON breaks ground on Texas Waves Energy Storage Projects
E.ON began construction on its Texas Waves energy storage projects co-located at the existing E.ON Pyron and Inadale wind
farms in West Texas. Texas Waves consists of two 9.9 megawatt (MW) short duration energy storage projects using lithium-ion
battery technology and will be an integral part of the wind farm facilities near Roscoe, Texas.
These projects will be the second and third grid connected lithium-ion battery systems installed by E.ON in North America and are
expected to be online by the end of 2017.
"Breaking ground on this project is particularly exciting as it allows us to continue to build our reputation as one of the leading
players in North American energy storage," said Mark Frigo, VP of Energy Storage North America at E.ON. "These projects will
Iron Horse, E.ON's first grid connected lithium battery system project, consisting of a 10 MW energy storage facility with an
adjacent 2 MW solar array southeast of Tucson, Ariz., is online and helping Tucson Electric Power (TEP) maintain reliable electric
service for more than 400,000 customers by providing frequency regulation and voltage control support.
Texas Waves are designed to provide ancillary services to the Electric Reliability Council of Texas (ERCOT) market and will be
capable of responding to shifts in power demand more quickly, increasing system reliability and efficiency.
E.ON designated Greensmith Energy for energy storage software and services and has selected Primoris Renewable Energy for
engineering, procurement and construction on the Texas Waves projects.
E.ON has developed, built and operates more than 3,100 MW of solar and wind renewable energy generation across the U.S.,
with more on the way. E.ON also offers O&M and asset management services to third party owner/operators looking for "Service
with an Owner's Eye."
Aug 31, 2017: E.ON uses smart meters for the first time to control customer systems
E.ON is one of the first companies in Germany to control photovoltaic (PV) systems using intelligent metering systems, commonly
known as smart meters. An additional unit, a so-called control box, prevents grid congestion by flexibly controlling power
generation by the solar panels.
The PV systems are connected to the grid operated by Bayernwerk, one of E.ON s regional distribution subsidiaries. Flexible
output control makes E.ON a pioneer in implementing the technical requirements of the VDE Network Technology Forum (FNN),
and in the use of control boxes as part of a fully functional test system. FNN is the organization developing technical standards in
this field.
Control boxes and smart meters cannot only be used to reduce and increase the power output of PV modules from a remote
location. The devices also provide information about the technical condition of the solar panels as well as other measured values.
The data as well as encrypted control signals are transmitted via a communication gateway inside the smart meter. This ensures
compliance with the maximum security standards defined by the Federal Office for Information Security.
What sounds pretty simple is an important milestone on the path towards the digital, smart electricity grid," says Paul-Vincent
Abs, who is responsible at E.ON for smart meters. The control box/smart meter combination allows both the generation and
consumption of renewable energy to be optimized."
The work done by E.ON in this field is sponsored by the Ministry of Economics as part of the "Smart Energy Showcase - Digital
Agenda for the Energy Transition" (SINTEG) program. The aim of this initiative is to develop and demonstrate model energy
supply solutions for the future in so-called showcase regions.
Aug 28, 2017: E.ON begins construction on 385MW Arkona offshore wind project in Germany
Construction work on the 385MW Arkona offshore wind project owned by E.ON and Statoil has commenced in the German Baltic
Sea.
E.ON, which is responsiblefor the construction and operation of the offshore wind farm, said that the first foundations of the
1.2bn offshore wind project have been laid successfully in the seabed. Towards the end of last month, the common substation
with grid operator 50Hz was installed.
E.ON plans to have 60 monopiles installed for the Arkona wind park prior to the mounting of the transition pieces, towers and
turbines on them. Weighing up to 1,200 tons, the steel tubes have a 7-8m diameter.
As per the German energy firm, the initial construction phase of the offshore wind project will have 400 people engaged with the
number expected to reach 600 during the peak period.
Located 35km northeast of Rgen island, the Arkona offshore wind project will feature 60 turbines from Siemens, each of 6MW
capacity in the SWT-6.0-154 range. The wind turbines are planned to be installed by Siemens in summer 2018.
The Mukran Port in Sassnitz will serve as the base port of the offshore wind project and also host its operations once
commissioned.
VBMS in April had bagged the contract from E.ON to install 65 inter array cables for the Arkona wind project with the cabling work
set to begin next year.
The Arkona offshore wind farm is slated to be commissioned in 2019 and the supply from itwill meet the power consumption
needs of up to 400,000 households.
Apart from that, the Arkona wind project will help in offsetting 1.2 million tons of carbon emissions every year.
Aug 25, 2017: E.ON starts construction on 385MW Arkona offshore wind farm
E.ON has announced the start of construction work at the 385MW Arkona offshore wind farm off the coast of German Baltic Sea.
The Arkona offshore wind farm is a joint venture between E.ON and the Norwegian energy company Statoil. The wind farm is
estimated to be build with a cost of1.2bn.
Itwill be located about 35km from the coast near the island of Rgen. It will include 60 of Siemens SWT6.0-154 turbines.
Each of these turbines will generate 6MW of energy and will have a rotor diameter of 154m. The turbines will be installed on
grounded monopile structures.
As per E.ON, the first foundations at the site have already been laid in the seabed, marking the start of the construction of the
wind farm.The next stage of the construction involves installation of60monopiles, on whichthe transition pieces, towers and
turbines will be mounted later.
The company said that there are about 400 people working on the project during the beginning of the construction phase. The
project is expected to provide jobs for 600 people during its busiest period.
Theoffshore wind farm, which is expected to become operational in 2019, will produce enough energy to be supplied to 400,000
German households. The wind farm will also help inoffsetting 1.2 million tons of CO2 from entering the atmosphere.
E.ON says that majority of the power generated from the project will be delivered to the state of Mecklenburg-Vorpommern.
Last year,E.ON awarded VBMS a contract to install 65 inter array cables for the Arkona wind farm.The contract's scope includes
route engineering, surveying, a pre-lay grapnel run, trenching, termination and testing of the 65 cables.
Aug 24, 2017: Construction begins for the Arkona offshore wind project in the Baltic Sea: E.ON
Construction work on the Arkona wind project in the German Baltic Sea has begun. E.ON reports that the first foundations have
been successfully laid in the seabed. A total of 60 so-called monopiles will be installed for the Arkona wind park before the
transition pieces, towers and turbines are mounted on them. The foundation for the common substation with grid operator 50Hertz
was installed end of July.
The steel tubes have a diameter of between seven and nearly eight metres and weigh up to 1,200 tons. Since production started
in September 2016, the manufacturer EEW Special Pipe Constructions in Rostock has processed about 53,000 tons of steel for
the Arkona project.
In terms of transport to the construction site, the monopiles are sealed at both ends, launched and floated to the construction site.
There, the heavy-load crane ship Svanen will hammer the monopiles (which have a maximum length of 81 metres) 40 metres
deep into the seabed - at water depths ranging from 23 to 37 metres. A modern sound-proofing system ensures that the noise
from this work is minimised for marine fauna.
400 people are working on the Arkona project at the beginning of the construction phase. The project will employ up to 600 people
during its busiest period. A large part of the value from the project will be generated for the state of Mecklenburg-Vorpommern.
The base port for the project and its subsequent operation is the Mukran Port in Sassnitz on the island Rugen.
E.ON is also introducing innovation in the form of steel foundations for environmental protection in offshore wind parks. Together
with partner companies, E.ON has developed a new technology for anti-corrosion protection and is the first offshore company to
use this. A new coating process significantly reduces the impact to the sea during the operation period, as compared to
conventional processes.
The Arkona project is located 35 kilometres northeast of the island of Rgen. The wind farm will have a capacity of 385 megawatts
(MW) and will be able to supply up to 400,000 households with renewable energy from 2019 onwards. Compared to
conventionally produced electricity, Arkona will save up to 1.2 million tons of CO2 annually. The project will see the installation of
60 Siemens six-megawatt turbines. Arkona is a joint venture between E.ON and the Norwegian energy company Statoil.
Aug 21, 2017: CWind to install fibre optic cable at 400MW Rampion offshore wind farm
CWind, the subsidiary of Global Marine Group (GMG) has secured a contract for installing fibre optic cable at the 400MW Rampion
offshore wind farm, being built off the coast of Sussex, UK.
The contract has been awarded by German electric utility company E.ON.
The installation of the fibre optic cablewill help in establishing a vital communications link for the wind farm and the work is
expected to be completed by the end of this month.
CWind's installation will centre ona 96-fibre armoured cable supplied from Hexatronic. To ensure appropriate cable protection in
the hard chalk seabed, it will be installed bythe CS Recorder using the proven Hi-Plough.
The Rampion offshore wind farm is expected to generate enough electricity to satisfy the power needs of about 347,000 UK
households or about half of the homes in Sussex region.
The wind farm will feature 116 turbines to be supplied by Vestas. Each of the turbines will generate about 3.45MW of electricity.
Located 17km from Sussex coast, the wind farm is spread across in an area of 79km2.
Global Marine Group s subsidiary CWind managing director Lee Andrews said It is a pleasure for CWind to continue working with
Rampion. We are well placed to support the project, with a comprehensive track record of successful cable installations.
In a very tight timeframe, the CWind team has engineered a solution for a complex project that accommodates the existing on site
infrastructure. We now look forward to successfully conducting the installation and will naturally embrace our right first time ethos
throughout the project."
E.ON, along with the UK Green Investment Bank and Enbridge are the owners of the wind farm.
Appendix
The data and analysis within this report is driven by GlobalData.
GlobalData gives you key information to drive sales, investment and deal making activity in your business.
Our coverage includes 165,000 + reports on 150,000+ companies (including 100,000+ private) across 200+ countries and 29
industries. The key industries include Alternative Energy, Oil and Gas, Clean Technology, Technology and Telecommunication,
Pharmaceutical and Healthcare, Power, Financial Services, Chemical and Metal and Mining.
Methodology
GlobalData company reports are based on a core set of research techniques which ensure the best possible level of quality and
accuracy of data. The key sources used include:
Company Websites
Company Annual Reports
SEC Filings
Press Releases
Proprietary Databases
Currency Codes
Currency Code Currency
EUR Euro
Source: GlobalData
Ratio Definitions
Capital Market Ratios
Capital Market Ratios measure investor response to owning a companys stock and also the cost of issuing stock.
Price/Earnings Price/Earnings (P/E) ratio is a measure of the price paid for a share relative to the annual income
Ratio (P/E) earned per share. It is a financial ratio used for valuation: a higher P/E ratio means that investors
are paying more for each unit of income, so the stock is more expensive compared to one with
lower P/E ratio. A high P/E suggests that investors are expecting higher earnings growth in the
future compared to companies with a lower P/E. Price per share is as of previous business close,
and EPS is from latest annual report.
Calculation: Price per Share / Earnings per Share
Enterprise Enterprise Value/EBITDA (EV/EBITDA) is a valuation multiple that is often used in parallel with,
Value/Earnings or as an alternative to, the P/E ratio. The main advantage of EV/EBITDA over the PE ratio is that
before Interest, Tax, it is unaffected by a companys capital structure. It compares the value of a business, free of debt,
Depreciation and to earnings before interest. Price per share is as of previous business close, and shares
Amortization outstanding last reported. Other items are from latest annual report.
(EV/EBITDA)
Calculation: (Market Cap + Debt + Preferred Stock - Cash and Cash Equivalents) / (Net Income
+ Interest + Tax + Depreciation + Amortization)
Enterprise Enterprise Value/Sales (EV/Sales) is a ratio that provides an idea of how much it costs to buy the
Value/Sales companys sales. EV/Sales is seen as more accurate than Price/Sales because market
capitalization does not take into account the amount of debt a company has, which needs to be
paid back at some point. Price per share is as of previous business close, and shares
outstanding last reported. Other items are from latest annual report.
Calculation: (Market Cap + Debt + Preferred Stock - Cash and Cash Equivalents) / Sales
Enterprise Enterprise Value/Operating Profit measures the companys enterprise value to the operating
Value/Operating profit. Price per share is as of previous business close, and shares outstanding last reported.
Profit Other items are from latest annual report.
Calculation: (Market Cap + Debt + Preferred Stock - Cash and Cash Equivalents) / Operating
Income
Enterprise Enterprise Value/Total Assets measures the companys enterprise value to the total assets. Price
Value/Total Assets per share is as of previous business close, and shares outstanding last reported. Other items are
from latest annual report.
Calculation: (Market Cap + Debt + Preferred Stock - Cash and Cash Equivalents) / Total Assets
Dividend Yield Dividend Yield shows how much a company pays out in dividends each year relative to its share
price. In the absence of any capital gains, the dividend yield is the return on investment for
a stock.
Calculation: Annual Dividend per Share / Price per Share
Source: GlobalData
Equity Ratios
These ratios are based on per share value.
Earnings per Share Earnings per share (EPS) is the portion of a companys profit allocated to each outstanding share
(EPS) of common stock. EPS serves as an indicator of a companys profitability.
Calculation: Net Income / Weighted Average Shares
Dividend per Share Dividend is the distribution of a portion of a companys earnings, decided by the board of
directors, to a class of its shareholders.
Dividend Cover Dividend cover is the ratio of companys earnings (net income) over the dividend paid to
shareholders.
Calculation: Earnings per share / Dividend per share
Book Value per Book Value per Share measure used by owners of common shares in a firm to determine the
Share level of safety associated with each individual share after all debts are paid accordingly.
Calculation: (Shareholders Equity - Preferred Equity) / Outstanding Shares
Cash Value per Cash Value per Share is a measure of a companys cash (cash and equivalents on the balance
Share sheet) that is determined by dividing cash and equivalents by the total shares outstanding.
Calculation: Cash and equivalents / Outstanding Shares
Source: GlobalData
Profitability Ratios
Profitability Ratios are used to assess a companys ability to generate earnings, based on revenues generated or resources
used. For most of these ratios, having a higher value relative to a competitors ratio or the same ratio from a previous
period is indicative that the company is doing well.
Gross Margin Gross margin is the amount of contribution to the business enterprise, after paying for direct-fixed
and direct-variable unit costs.
Calculation: {(Revenue-Cost of revenue) / Revenue}*100
Operating Margin Operating Margin is a ratio used to measure a companys pricing strategy and operating
efficiency.
Calculation: (Operating Income / Revenues) *100
Net Profit Margin Net Profit Margin is the ratio of net profits to revenues for a company or business segment - that
shows how much of each dollar earned by the company is translated into profits.
Calculation: (Net Profit / Revenues) *100
Profit Markup Profit Markup measures the companys gross profitability, as compared to the cost of revenue.
Calculation: Gross Income / Cost of Revenue
PBIT Margin (Profit Profit Before Interest and Tax Margin shows the profitability of the company before interest
Before Interest and expense and taxation.
Tax)
Calculation: {(Net Profit+Interest+Tax) / Revenue} *100
PBT Margin (Profit Profit Before Tax Margin measures the pre-tax income over revenues.
Before Tax)
Calculation: {Income Before Tax / Revenues} *100
Return on Equity Return on Equity measures the rate of return on the ownership interest (shareholders equity) of
the common stock owners.
Calculation: (Net Income / Shareholders Equity)*100
Return on Capital Return on Capital Employed is a ratio that indicates the efficiency and profitability of a companys
Employed capital investments. ROCE should always be higher than the rate at which the company borrows;
otherwise any increase in borrowing will reduce shareholders earnings.
Calculation: EBIT / (Total Assets Current Liabilities)*100
Return on Assets Return on Assets is an indicator of how profitable a company is relative to its total assets, the
ratio measures how efficient management is at using its assets to generate earnings.
Calculation: (Net Income / Total Assets)*100
Return on Fixed Return on Fixed Assets measures the companys profitability to its fixed assets (property, plant
Assets and equipment).
Calculation: (Net Income / Fixed Assets) *100
Return on Working Return on Working Capital measures the companys profitability to its working capital.
Capital
Calculation: (Net Income / Working Capital) *100
Source: GlobalData
Cost Ratios
Cost ratios help to understand the costs the company is incurring as a percentage of sales.
Operating costs (% Operating costs as percentage of total revenues measures the operating costs that a company
of Sales) incurs compared to the revenues.
Calculation: (Operating Expenses / Revenues) *100
Administration Administration costs as percentage of total revenue measures the selling, general and
costs (% of Sales) administrative expenses that a company incurs compared to the revenues.
Calculation: (Administrative Expenses / Revenues) *100
Interest costs (% of Interest costs as percentage of total revenues measures the interest expense that a company
Sales) incurs compared to the revenues.
Calculation: (Interest Expenses / Revenues) *100
Source: GlobalData
Liquidity Ratios
Liquidity ratios are used to determine a companys ability to pay off its short-terms debts obligations. Generally, the higher
the value of the ratio, the larger the margin of safety that the company possesses to cover short-term debts. A companys
ability to turn short-term assets into cash to cover debts is of the utmost importance when creditors are seeking payment.
Bankruptcy analysts and mortgage originators frequently use the liquidity ratios to determine whether a company will be
able to continue as a going concern.
Current Ratio Current Ratio measures a companys ability to pay its short-term obligations. The ratio gives an
idea of the companys ability to pay back its short-term liabilities (debt and payables) with its
short-term assets (cash, inventory, receivables). The higher the current ratio, the more capable
the company is of paying its obligations. A ratio under 1 suggests that the company would be
unable to pay off its obligations if they came due at that point.
Calculation: Current Assets / Current Liabilities
Quick Ratio Quick ratio measures a companys ability to meet its short-term obligations with its most liquid
assets.
Calculation: (Current Assets - Inventories) / Current Liabilities
Cash Ratio Cash ratio is the most stringent and conservative of the three short-term liquidity ratio. It only
looks at the most liquid short-term assets of the company, which are those that can be most
easily used to pay off current obligations. It also ignores inventory and receivables, as there are
no assurances that these two accounts can be converted to cash in a timely matter to meet
current liabilities.
Calculation: {(Cash and Bank Balance + Marketable Securities) / Current Liabilities)}
Source: GlobalData
Leverage Ratios
Leverage ratios are used to calculate the financial leverage of a company to get an idea of the companys methods of
financing or to measure its ability to meet financial obligations. There are several different ratios, but the main factors
looked at include debt, equity, assets and interest expenses.
Debt to Equity Ratio Debt to Equity Ratio is a measure of a companys financial leverage. The debt/equity ratio also
depends on the industry in which the company operates. For example, capital-intensive
industries tend to have a higher debt-equity ratio.
Calculation: Total Liabilities / Shareholders Equity
Debt to Capital Debt to capital ratio gives an idea of a companys financial structure, or how it is financing its
Ratio operations, along with some insight into its financial strength. The higher the debt-to-capital ratio,
the more debt the company has compared to its equity. This indicates to investors whether a
company is more prone to using debt financing or equity financing. A company with high debt-to-
capital ratios, compared to a general or industry average, may show weak financial strength
because the cost of these debts may weigh on the company and increase its default risk.
Calculation: {Total Debt / (Total assets - Current Liabilities)}
Interest Coverage Interest Coverage Ratio is used to determine how easily a company can pay interest on
Ratio outstanding debt, calculated as earnings before interest and tax by interest expense.
Calculation: EBIT / Interest Expense
Source: GlobalData
Efficiency Ratios
Efficiency ratios measure a companys effectiveness in various areas of its operations, essentially looking at maximizing its
use of resources.
Fixed Asset Fixed Asset Turnover ratio indicates how well the business is using its fixed assets to generate
Turnover sales. A higher ratio indicates the business has less money tied up in fixed assets for each
currency unit of sales revenue. A declining ratio may indicate that the business is over-invested
in plant, equipment, or other fixed assets.
Calculation: Net Sales / Fixed Assets
Asset Turnover Asset turnover ratio measures the efficiency of a companys use of its assets in generating sales
revenue to the company. A higher asset turnover ratio shows that the company has been more
effective in using its assets to generate revenues.
Calculation: Net Sales / Total Assets
Current Asset Current Asset Turnover indicates how efficiently the business uses its current assets to generate
Turnover sales.
Calculation: Net Sales / Current Assets
Inventory Turnover Inventory Turnover ratio shows how many times a companys inventory is sold and replaced over
a period. A low turnover implies poor sales and, therefore, excess inventory. A high ratio implies
either strong sales or ineffective buying.
Calculation: Cost of Goods Sold / Inventory
Working Capital Working Capital Turnover is a measurement to compare the depletion of working capital to the
Turnover generation of sales. This provides some useful information as to how effectively a company is
using its working capital to generate sales.
Calculation: Net Sales / Working Capital
Capital Employed Capital employed turnover ratio measures the efficiency of a companys use of its equity in
Turnover generating sales revenue to the company.
Calculation: Net Sales / Shareholders Equity
Capex to sales Capex to Sales ratio measures the companys expenditure (investments) on fixed and related
assets effectiveness when compared to the sales generated.
Calculation: (Capital Expenditure / Sales) *100
Net income per Net income per Employee looks at a companys net income in relation to the number of
Employee employees they have. Ideally, a company wants a higher profit per employee possible, as it
denotes higher productivity.
Calculation: Net Income / No. of Employees
Revenue per Revenue per Employee measures the average revenue generated per employee of a company.
Employee This ratio is most useful when compared against other companies in the same industry.
Generally, a company seeks the highest revenue per employee.
Calculation: Revenue / No. of Employees
Efficiency Ratio Efficiency Ratio is used to calculate a banks efficiency. An increase means the company is losing
a larger percentage of its income to expenses. If the efficiency ratio is getting lower, it is good for
the bank and its shareholders.
Calculation: Non-interest expense / Total Interest Income
Source: GlobalData
Notes
Financial information of the company is taken from the most recently published annual reports or SEC filings
The financial and operational data reported for the company is as per the industry defined standards
Revenue converted to USD at average annual conversion rate as of fiscal year end
About GlobalData
GlobalData is one of the worlds leading providers of company operational data and strategic analysis, providing detailed
information on tens of thousands of companies globally. Our highly qualified team of Analysts, Researchers, and Solution
Consultants use proprietary data sources and various tools and techniques to gather, analyze and represent the latest and the
most reliable information essential for businesses to sustain a competitive edge. Data is continuously updated and revised by
large teams of research experts, so that it always reflects the latest events and information. With a large dedicated research and
analysis capability, GlobalData employs rigorous primary and secondary research techniques in developing unique data sets and
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ON SE Financial and Strategic SWOT Analysis

Financial Performance Recent Developments

E.ON SE , Key Facts

Other Locations and Subsidiaries

E.ON Kernkraft GmbH E.ON Sverige AB

E.ON Energie AG Amrumbank-West GmbH

E.On U.S. LLC E.ON Hungaria Zrt

E.ON Energy from Waste Helmstedt GmbH Interargem GmbH

E.ON Energy from Waste Grobraschen GmbH Bayernwerk AG

E.ON Wasserkraft GmbH E.ON Ruhrgas UK North Sea Limited

E.ON Bayern AG Kernkraftwerk Unterweser GmbH

E.ON Avacon AG E.ON Engineering GmbH

E.ON Bulgaria EAD E.ON Italia SpA

E.ON Energiaszolgaltato Kft E.ON Netz GmbH

E.ON Ruhrgas E&P GmbH E.ON Energy Projects GmbH

E.ON Elektrarne s.r.o. E.ON edis Vertrieb GmbH

Thor Cogeneration Limited E.On Varme Sverige AB

Hansa Werk AG E.ON Venture Partners GmbH

CHN Group Ltd. E.ON Produzione S.p.A.

E.ON Karnkraft Sverige AB E.ON Energy Limited

E.ON Ceska republika, s.r.o. E.ON Distribucion S.L.

E.ON Vind Sverige AB E.ON UK Cogeneration Limited

E.ON Distribuce a.s. E.ON Elnat Stockholm AB

E.ON Elnat Sverige AB Kraftwerk Plattling GmbH

E.ON Climate & Renewables Italia S.r.l. E.ON Danmark A/S

E.ON New Build & Technology GmbH E.ON Czech Holding AG

2PRCE Energies SARL Aliden Vind AB

Biogas Steyerberg GmbH Bioerdgas Schwandorf GmbH

ANCO Sp. z o.o. Aquila Power Investments Limited

Bjorn Kraft Oy Champion WF Holdco, LLC

Debreceni Kombinalt Ciklusu Eromu Kft Dutchdelta Finance SARL

E.ON Argentina S.A. E.ON Climate & Renewables Canada Ltd.

E.ON Slovensko, a.s. E.ON Renovaveis Portugal, SGPS S.A.

E.ON Ruhrgas Dogalgaz A.S. Infrastructure Alliance Limited

PEG Infrastruktur AG E.ON Bayern Verwaltungs AG

E.ON Energy Trading S.p.A. MEON Pensions GmbH & Co. KG

MEON Verwaltungs GmbH Mer. Wind S.r.l.

E.ON Ruhrgas E&P Russia Terminal Alpi Adriatico S.r.l.

The Power Generation Company Limited E.ON IT Sverige AB

E.ON Kraftwerke 6. Beteiligungs-GmbH E.ON Kundsupport Sverige AB

DOTTO MORCONE S.R.L. e.dialog Netz GmbH

e.distherm Warmedienstleistungen GmbH e.inkasso GmbH

E.ON Achtzehnte Verwaltungs GmbH E.ON Austria GmbH

GCE Energies SARL Gelsenberg GmbH & Co. KG

E.ON E&P Norway AS E.ON Hanse Warme GmbH

E.ON Energy Trading AB E.ON Russia Power

E.ON Connecting Energies GmbH GELSENWASSER Beteiligungs-GmbH

E.on Energihandel Nordic Aktiebolag E.On Energie, A.S.

E.ON Energy Services E.ON Metering GmbH

E.ON Energie Deutschland GmbH KGW - Kraftwerk Grenzach-Wyhlen GmbH

E.ON Bioerdgas GmbH E.ON Bayern Vertrieb GmbH

E Wie Einfach Strom & Gas GmbH

E.ON SE , Joint Venture

Yorkshire Windpower Limited Gaz de Normandie S.A.S

Adria LNG d.o.o.

Business Description - Customer Solutions

Customer Solutions - Key Stats

Customer Solutions - Performance

Customer Solutions - Overview

Business Description - Energy Networks

Energy Networks - Performance

Energy Networks - Key Stats