innogy’s operating business develops as expected in the first nine months of 2019
- Divestment Business
- Adjusted EBIT at about €1.1 billion, adjusted net income at around €0.2 billion due to structural effects
- 2019 outlook technically adjusted for effects related to the takeover by E.ON
Essen, 28 November 2019
In the first nine months of fiscal 2019, innogy SE’s earnings declined year on year as expected, with adjusted EBIT of €1,060 million and adjusted net income of €212 million.
innogy’s takeover by E.ON results in significant structural effects in the reporting: activities to be sold off in relation to the E.ON/RWE transaction have been assigned to the new segment Divestment Business and are stated as discontinued operations going forward. Consequently, these activities no longer contribute to adjusted EBIT and adjusted net income; the prior-year figures were adjusted accordingly. The 2019 outlook has been technically adjusted for the same reason: for the current fiscal year, innogy now forecasts adjusted EBIT of about €1,600 million and adjusted net income of about €400 million.
Takeover of innogy by E.ON
Following approval of the transaction by the European Commission, the shares in innogy held by RWE amounting to roughly 76.8 per cent were transferred to E.ON on 18 September. As a result, E.ON is innogy’s new majority shareholder. Furthermore, innogy’s minority shareholders which had accepted E.ON’s voluntary public takeover offer and held approximately 9.4 per cent of the shares received the offer consideration for their shares by the end of September 2019.