German power giant E.ON makes record loss

Germany Power generation and energy trading separated in new listed company.

Germany's largest energy company E.on reported a net loss of €7 billion in 2015. This is the company's largest reported loss so far, to be compared with a loss of €3.2 billion in 2014. The reported loss in 2015 is primarily due to impairment charges of €8.8 billion on generation assets. The underlying net income was €1.6 billion. The company expects the tough market conditions to put pressure on earnings also in the future. E.ON has initiated a spin-off of its business activities in conventional power generation and energy trading into a new company called Uniper, that is planned to be stock exchange listed. The future E.on will focus on renewable generation, distribution and customer solutions.

http://www.eon.com/en/media/news/press-releases/2016/3/9/eon-results-in-line-with-expectations.html

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