The EBITDA (earnings before interest, taxes, depreciation and amortization) of “other regional units” rose by EUR45 million, to EUR216 million, due to higher profits for the units of Connecting Energies and those in Romania and the Netherlands, the company said in a statement.
“Earnings in Romania benefited from the positive effect of tariff increases in the gas distribution business instituted in 2014 and from a weather-driven increase in gas sales volume; these effects were partially mitigated by a reduction in reimbursements for gas procurement costs,” the company said.
“Other regional units” include the France, Netherlands, Slovakia, Romania and Italy regional units. Until December, this group also included the Spain regional unit and certain operations in Italy, which were sold. Additionally reported here are the activities of E.ON Connecting Energies, which concentrates on providing decentralized, complete solutions.
Investments in the remaining EU countries totaled EUR87 million in the first nine months, compared with EUR96 million in the same period a year before. The decline mainly reflects E.ON Connecting Energies’ acquisition, in the second quarter of 2014, of a company that generates power and heat in Russia.
By contrast, investments in Romania rose by EUR13 million and went primarily toward power and gas networks there, according to the company.
E.ON runs several gas and electricity distribution units in Romania, serving around 3 million customers in 20 counties.
For 2015, German utility group E.ON expects a 2015 EBITDA between EUR7 and EUR7.6 billion and a net income of EUR1.4-1.8 billion.
In January-September, E.ON’s EBITDA fell 18% to EUR5.4 billion, while its net profit fell 30% to EUR962 million.