E.On records €16 bln loss

German utility E.On registered a net loss of €16 billion in 2016 – the highest in the company’s history.
By Staff reporter 15 March 2017 0 25050

German utility E.On registered a net loss of €16 billion ($17 billion) in 2016 – the highest in the company’s history – mainly as a result of €6.1 billion in writedowns it made on spin-off company Uniper, which started operations in January 2016, and payments made to Germany’s state fund to cover the costs of disposing and storing nuclear waste.

E.On plans to reduce its debt by €7 billion and cut 1,300 jobs.

Uniper was formed in 2016 to separate E.On’s fossil fuel assets and help it...

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up