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1、Taking actionnowQ1 2023 Results10 May 20232Solid start to the year allowing for FY guidance confirmationE.ON Q1 2023 ResultsSolid performance in Q1 2023 in both Energy Networks and Customer SolutionsSignificant year-over-year increase driven by investment-backed underlying growth,strong execution an

2、d timing effectsNormalization of weak Q1 2022 outturn supporting growth1.Core business only(segments:Energy Networks,Customer Solutions,Corporate Functions&Other);excl.Non-Core contribution in Q1 2022:EBITDA -246m;ANI -144m.2.Adjusted for non-operating effects.EBITDA2Economic Net DebtQ1 2022Q1 2023A

3、dj.Net Income2 0.40 0.20Key financialsbnQ1 development EPS21.812.70.511.032.735.1FY 2023 guidance and FY 2027 targets,including dividend policy,fully confirmed2023 outlook assumes energy crisis not over yetAccelerated energy transition in Europe underpins E.ONs growth strategyFY outlook FY 20223Grow

4、th from investments,strong execution and timing effects drive year-over-year EBITDA increaseE.ON Q1 2023 Results1.Adjusted for non-operating effects 2.See explanation in annex slide 13 3.Turkey generation EBITDA Q1 2023 53m;EBITDA Q1 2022 53m Energy Networks+RAB growth+Germany:Timing effects,e.g.red

5、ispatch cost2+Sweden and CEE:Recovery of network lossesCustomer Solutions+Increased energy procurement cost passed through to customers+Germany/Netherlands:Procurement optimization+/-UK:Improvement on cap allowances balanced by weather effects and temporary one offs+Romania:Normalization of business

6、 conditionsCorporate Functions&Other+Turkey generation3and Urenco moving in from non-core+436+399+38Q1 2022-246Non-CoreCore Q1 2022Energy NetworksCustomer SolutionsCorp.Functions&OtherQ1 20232,0881,8422,715+873EBITDA1mKey financials1.Adjusted for non-operating effects4Adjusted Net Income following E

7、BITDA development E.ON Q1 2023 ResultsTax rate at 25%EPS1(per share)2,7152,0361,8031,031EBITDA1-679D&A1EBIT1-233Economicinterest resultProfitbefore Taxes1-451Income taxes-321MinoritiesAdjustedNet Income10.40ANI1m5Payment behavior remains unchanged,bad debt exposure continues to be tightly managedE.O

8、N Q1 2023 Results1.Aggregation of maturity of receivables and country specific KPIs in comparison to FY 2022 2.For trade receivables in Customer Solutions 3.P&L effective additions in relation to relevant Customer Solutions revenuesIndicators for relevant marketsBad debt allowances2bnRatio of bad de

9、bt additions to revenue2,3%Q1 2022FY 20221.31.5Q1 2022FY 20220.60.7Direct government support packages and price caps still supportive for payment behaviorPrice adjustments did not meaningfully affect payment behaviors across E.ON markets(Customer Solutions revenues increased by 65%Q1 2023 vs.Q1 2022

10、)Stringent management of bad debt exposureGovernmentinterventionPayment behavior1GERUKNLOther(incl.CEE)positive/unchangedneutral/slight changenegative/worsenedEarnings effective additions to bad debt provisions up by 0.1bn in Q1 yoyQ1 20231.8Q1 20230.7Economic Net Debt quarterly comparisonbn6Solid E

11、ND position despite typical seasonal cash outflowsE.ON Q1 2023 ResultsAsset Retirement Obligations(ARO)Pension provisionsNet financial position1.Net of divestments excl.margining effects 2.Actuarial interest rates for German pensions at 3.65%(vs.3.71%FY 2022),for UK pensions at 4.77%(vs.4.80%FY 2022

12、)3.Economic Net Debt/EBITDA,EBITDA adjusted for non-operating effects-7.4-7.4-3.7-0.8-0.90.0-0.3-3.8-21.6ENDFY 2022OCFQ1 2023Net Investments Q1 20231Pensions2Margining Effects-0.2Other(incl.AROs)-23.9ENDQ1 2023-32.7-35.1END development fully in line with expectationsInvestments ramp up fully on trac

13、k(+30%YOY increase in Q1)Expectation on 2023 CCR broadly unchangedDebt factor1target of 5.0 xSecuring a strong BBB/Baa rating7Fully on-track for FY 2023 and 2027 outlookE.ON Q1 2023 Results1.Adjusted for non-operating effects 2.Core business only(segments:Energy Networks,Customer Solutions,Corporate

14、 Functions&Other)3.Subject to 2023 AGM approval4.Cash-effective investments including Corporate Functions&Other and Non-Core 5.Based on EU taxonomy eligible capex 6.2023-2027 7.Average for period 2023-2027bnActuals FY 2022FY 2023FY 2027EBITDA16.97527.8-8.09.0Energy Networks5.4596.0-6.26.5-6.7Custome

15、r Solutions1.6861.8-2.02.3-2.6Energy Retail1.1181.3-1.41.5-1.7Energy Infrastructure Solutions5680.5-0.60.8-0.9Corporate Functions&Other-0.170-0.1-0.1Adj.Net Income11.94422.3-2.52.5EPS1 0.7520.88-0.960.97Dividend 0.513Up to 5%p.a.Up to 5%p.a.Capex44.7535.8336Energy Networks3.8454.6266Customer Solutio

16、ns0.8311.166Capex EU Taxonomy aligned498%95%595%5ROCE8.8%7-8%77-8%7Debt factor4.1x5.0 x5.0 xSolid start to Q1supported by timing effects in Energy Networks and Energy Retail2023 outlook assumes energy crisis not over yetDue to strong Q1,FY 2023 outturn now likely closer to the higher end of guidance

17、 rangesFY 2027 outlook fully confirmedFinancial AppendixFinancial OverviewE.ON Q1 2023 Results|Financial Appendix1.Adjusted for non-operating effects 2.As of 31 December 2022 and 31 March 2023;Bonds formerly issued by innogy are recorded at their nominal value.The figure shown in the Consolidated Ba

18、lance Sheet is 1.6 billion higher(year-end 2022:1.7 billion higher);this figure includes again the same as the asset-retirement obligations shown in the Balance Sheet(7.369 million on March 31,2023;7,445 million at December 31,2022).mQ1 2022Q1 2023%YoYSales29,50733,543+14EBITDA12,0882,715+30EBIT11,3

19、962,036+46Adjusted Net Income16831,031+51OCFbIT-476-431+9Investments7901,038+31Economic Net Debt2-32,742-35,086-791.Cash Conversion Rate(CCR):OCFbIT excl.OCFbIT related to dismantling activities and generation activities until April 15th of nuclear power plants/Adj.EBITDA 2.Adjusted for non-operatin

20、g effects 3.Incl.non-cash-effective EBITDA items,provision utilizations and payments related to non-operating earningsCash conversion rate of-19%in Q1 2023 following typical seasonal patternsFirst Quarter2023|Financial AppendixCCR1bn-19%CCROCFEBITDA20.7CapexFCFCash adjustments3-3.9Change in WCOCFbIT

21、-0.2Interest payments-0.2Tax payments2.7-0.4-0.8-1.9-1.0151.Adjusted for non-operating effects11Key performance drivers for 2023E.ON Q1 2023 Results|Financial AppendixEnergy Networks All+Organic RAB growthGermany+Increasing efficiencies+Redispatch costsSweden+Network losses recovery-Lower volumes CE

22、E&Turkey+Network losses recovery-Lower volumes Customer SolutionsAll+Normalization of procurement costEnergy Retail+Germany:Procurement optimization,solutions business growth+UK:Market stabilizationNL:Business normalization+Other:Solutions business growthEnergy Infrastructure Solutions+Organic growt

23、h from new projectsEBITDA11.Adjusted for non-operating effects 2.Due to the retrospective first-time application of IAS 29 as of January 1,2022 in the first half of 2022,the comparative figures for the first quarter of 2022 have been adjusted12Energy Networks EBITDA1mDriversSweden+Increased recovery

24、 for network lossesFXCEE&Turkey+Increased recovery for network lossesGermany+Increasing efficiencies+Redispatch cost All+RAB growthLower volumesQ1 20221,899Q1 20231,463+30%E.ON Q1 2023 Results|Financial AppendixCEE&TurkeyGermanySwedenmQ1 2022Q1 2023%YoYQ1 2022Q1 2023%YoYQ1 2022Q1 2023%YoYQ1 2022Q1 2

25、023%YoYRevenue4,0964,895+20265297+126811,026+515,0426,218+23EBITDA1,1961,489+24117168+44150242+611,4631,899+30EBIT8251,095+3374122+6570158+1269691,375+42thereof equity-method earnings5250-41427+936677+17OCFbIT797-75-109+296992383-61Investments389526+357088+26152211+39611825+35GermanySwe

26、denCEE&TurkeyTotal213Redispatch cost E.ON Q1 2023 Results|Financial Appendixt=0 expectedt=0actualt+3t+4t+5100%100%100%100%100%2026Q10.51.31.0%1.0%0.51.6%0.7Q2Q20.70.50.9%0.718.20.82026202520242023E.ON Q1 2023 Results|Financial AppendixAnnual ReportsFinancial calendar&important linksMay 17,2023Annual

27、 General MeetingAugust 09,2023Half Year Financial Report 2023 November 08,2023Quarterly Statement January November 2023Financial calendarImportant linksTo be directed to our products please follow the links:E.ON Q1 2023 Results|CalenderPresentationsFacts&Figures 2023Interim ReportsAnnual General Mee

28、tingGreen Bond FrameworkSustainability Report23March13,2024Full Year Financial Report 202324E.ON Investor Relations teamE.ON Q1 2023 Results|Financial AppendixIris EveleighHead of Investor R+49 170 7688749Milagros DEliaManager Investor R+49 151 52298030Martin JgerManager Investor R+49 162 2754355Jul

29、ian JostManager Investor R+49 1520 9137925Max SadrinaManager Investor R+49 172 8344377 Bjrn SiggemannManager Investor R+49 175 1996123Andreas ThielenManager Investor R+49 151 67114918DisclaimerThis presentation contains information relating to E.ON Group(E.ON)that must not be relied upon for any pur

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34、 contain forward-looking statements based on current assumptions and forecasts made by E.ON management and other information currently available toE.ON.Various known and unknown risks,uncertainties and other factors could lead to material differences between the actual future results,financial situa

35、tion,development orperformance of the company and the estimates given here.E.ON does not intend,and does not assume any liability whatsoever,to update these forward-looking statements or toconform them to futureevents or developments.Neither E.ON nor any respective agents of E.ON undertake any oblig

36、ation to provide the recipient with access to any additional information or to update this presentation or anyinformation or to correctany inaccuraciesin any suchinformation.Certain numerical data,financial information and market data(including percentages)in this presentation have been rounded acco

37、rding to established commercial standards.As aresult,the aggregate amounts(sum totals or interim totals or differences or if numbers are put in relation)in this presentation may not correspond in all cases to the amountscontained in the underlying(unrounded)figures appearing in the consolidated financial statements.Furthermore,in tables and charts,these rounded figures may not add up exactlyto the totals contained in therespective tables and charts.25E.ON Q1 2023 Results|Financial Appendix