The E.ON Group reports an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of €7.1 billion for the first nine months-a figure in line with the previous year and consistent with expectations-while the Group’s adjusted net profit rose by 4% to €2.2 billion. Furthermore, the €5.2 billion invested during the first nine months contributes to strengthening the energy transition and Europe’s competitiveness.
E.ON remains on the trajectory set for the 2026 financial year, according to company officials. Despite a market environment that remains challenging, the company’s results for the first nine months met expectations, and it has reaffirmed its full-year forecasts. Growth driven by investments and solid operational performance once again contributed to these positive results. At the same time, as part of its investment program, E.ON has continued to systematically expand and modernize Europe’s energy infrastructure.
“The results from the first nine months once again demonstrate the resilience of our business model. Our solid financial and operational performance keeps us firmly on track to meet our annual targets. Simultaneously, across all the markets where we operate, we see a significant and ever-growing need for investment in energy infrastructure,” stated Nadia Jakobi, CFO of E.ON. In the first nine months of 2026, the Group’s adjusted EBITDA stood at €7.1 billion, remaining at the same level as in the same period of the previous year (9 months 2025: €7.1 billion), in line with expectations. The Group’s adjusted net profit increased by 4%, reaching €2.2 billion (9 months 2025: €2.1 billion).
For 2026, the Group maintains its forecast for an adjusted EBITDA in the range of €9.4 to €9.6 billion and an adjusted net profit between €2.7 and €2.9 billion. Furthermore, E.ON fully reaffirms its medium-term outlook through 2030.
The Energy Networks segment recorded an adjusted EBITDA of over €5.3 billion, remaining-as expected-at the same level as the previous year (9 months 2025: €5.3 billion). The growth of the regulated asset base in Germany and other European markets, driven by investments, as well as the accelerated rollout of smart meters, continued to support financial performance. However, these positive factors were offset, in particular, by the deconsolidation of the NEW Group, the sale of the gas distribution business in the Czech Republic, and higher expenditures required to support sustainable growth.
Energy Infrastructure Solutions continued its positive trajectory during the first nine months of 2026. Its adjusted EBITDA rose by 15% to €460 million (9 months 2025: approximately €400 million). The primary growth driver was the commissioning of new projects for industrial and commercial clients.
Despite strong operational performance, the adjusted EBITDA for the Energy Retail segment stood at €1.3 billion-below the previous year’s level, as anticipated (€1.4 billion in the first 9 months of 2025). In addition to the deconsolidation of the NEW Group in Germany, this trend primarily reflects developments in the UK market: the gradual expiration of legacy contracts with industrial and commercial clients, as well as certain temporary effects. Conversely, operations in the United Kingdom benefited from favorable trends in the residential customer segment and a reduction in expenses related to energy efficiency measures.
Investment program progressing according to plan
In the first nine months of 2026, E.ON invested €5.2 billion, an increase of 2% compared to the same period last year (9 months 2025: €5.1 billion). Investments focused primarily on the expansion, modernization, and digitalization of energy networks.
“The implementation of our investment program is proceeding according to plan. The next phase of the energy transition requires high-performing networks, greater flexibility within the energy system, and increasingly advanced smart solutions for customers. These are precisely the areas we are working on every day. Our investments lay the foundation for a secure and affordable energy supply, while also contributing to strengthening Europe’s competitiveness. However, investments of this scale also require a stable and predictable long-term regulatory framework that is aligned with international standards,” stated Nadia Jakobi.
By the end of the third quarter, the Energy Networks division had invested €4.2 billion, an increase over the same period the previous year (9 months 2025: €4.1 billion). Investments were directed mainly toward network infrastructure across E.ON’s European markets, including new grid connections for customers, industry, and renewable energy generation facilities. At the same time, the company invested in digital solutions that enable more efficient use of existing network capacity. E.ON reaffirms its investment plans for the full year and projects total investments of approximately €7 billion in networks by 2026.
Investments by Energy Infrastructure Solutions, totaling €580 million, remained at the same level as the previous year (9 months 2025: approximately €580 million). These were primarily directed toward expanding integrated energy solutions for cities, municipalities, and industrial clients. Key projects included battery energy storage systems, as well as heating and district heating solutions.
Energy Retail increased its investments by 12%, reaching €355 million (9 months 2025: approximately €320 million). Investment priorities included the Europe-wide expansion of charging infrastructure for electric mobility and the continued digitalization of customer relations.
