The energy group E.ON has confirmed its forecasts following stable results in the first quarter.

From January to the end of March, the company roughly maintained its operating result (adjusted EBITDA) at around 2.7 billion euros, Europe's largest grid operator announced on Wednesday. The result was due in particular to investment-driven growth and operational improvements. While the grid business declined slightly, E.ON was able to increase its sales business with electricity and gas.

The Group confirmed its outlook of achieving an adjusted EBITDA of between 8.8 and 9.0 billion euros for the full year. E.ON sees its investment and growth strategy confirmed, said CFO Marc Spieker. In the first three months of the financial year alone, E.ON invested around €1.3 billion in the European energy transition. This corresponds to an increase of around 25 percent compared to the first quarter of 2023. The majority of the investments, just under one billion euros, were made in the grid business. The focus here was on new connections for renewable energy systems and the modernization and digitalization of the grid infrastructure.

(Report by Tom Käckenhoff, edited by Myria Mildenberger. If you have any queries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)