IGY.DE - innogy SE

XETRA - XETRA Delayed Price. Currency in EUR
44.42
+0.07 (+0.16%)
As of 10:10AM CET. Market open.
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Previous Close44.35
Open44.35
Bid44.41 x 0
Ask44.43 x 0
Day's Range44.32 - 44.43
52 Week Range39.51 - 45.98
Volume5,689
Avg. Volume355,109
Market Cap25B
Beta (3Y Monthly)-0.22
PE Ratio (TTM)N/A
EPS (TTM)-1.17
Earnings DateNov 28, 2019
Forward Dividend & Yield1.40 (3.17%)
Ex-Dividend Date2019-05-02
1y Target Est33.34
  • Thousands of U.K. Jobs at Risk as EON Takes Npower Clients
    Bloomberg

    Thousands of U.K. Jobs at Risk as EON Takes Npower Clients

    (Bloomberg) -- Plans to restructure Innogy SE’s U.K. energy supplier Npower and migrate its household customers to EON SE’s British business could put as many as 4,500 jobs at risk, according to Unison, one of the nation’s biggest unions.Workers will be given details at briefings later on Friday and the companies said they will consult and work with the trade unions. Innogy isn’t providing any numbers regarding how many positions are at stake, a spokeswoman said.Npower has been bleeding money for years. The U.K. energy retail market has traditionally been dominated by the six big utilities, but their share is shrinking with smaller and more nimble rivals undercutting prices. In a far cry from Margaret Thatcher’s liberalization drive decades ago, lawmakers from all parties have turned against the traditional suppliers, with former Prime Minister Theresa May introducing a price cap to stop what she called “rip off” contracts.“The U.K. market is currently particularly challenging, margins are slim. We’ve emphasized repeatedly that we’ll take all necessary action to return our business there to consistent profitability,” EON Chief Executive Officer Johannes Teyssen said on a call with journalists on Friday. “Now we are talking to the unions on the adjustment. The 4,500 number is an order of magnitude of the targeted group, but I cannot confirm that will be the number.”EON took over Innogy as part of an asset swap with RWE AG that was completed earlier this year. The German utilities in the early 2000s flocked to the U.K market where light-touch regulation and low business rates offered a profitable alternative to increasing competition and higher taxes in Germany.EON lost about 400,000 customers in the U.K. in the first nine months of the year, said Teyssen.Npower’s market share for electricity has fallen from 15% in 2004 to 8% in the second quarter of 2019, according to regulator Ofgem. The company had 4.2 million retail customers by the end of 2018, according to the company.EON’s plan should be taken as “a small positive” because it could lead to medium term profitability above RBC Europe Ltd.’s estimates, John Musk, its utilities analyst, said in a note.The restructuring is seen to cost about 500 million pounds ($645 million), EON said. The company expects its combined U.K. business to deliver at least 100 million pounds in earnings before interest and taxes from 2022 onward and thus to generate positive free cash flow.EON raised its 2019 guidance and now expects adjusted net income for 2019 of between 1.45 billion euros ($1.6 billion) and 1.65 billion euros, up from previous range of 1.4 billion euros to 1.6 billion euros.Its shares rose to their highest level since July 30, advancing as much as 3.2% in Frankfur(Updates with CEO comment in fourth paragraph)To contact the reporters on this story: Lars Paulsson in London at lpaulsson@bloomberg.net;Vanessa Dezem in Frankfurt at vdezem@bloomberg.net;Jeremy Hodges in London at jhodges17@bloomberg.netTo contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net, Lars Paulsson, Andrew ReiersonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    Npower to cut up to 4,500 UK jobs in restructuring

    UK energy provider Npower is to cut up to 4,500 jobs as part of a significant shake-up by its German owner that will include the closure of the majority of its sites. Under plans announced on Friday, Eon, which recently acquired Npower, will fold the lossmaking UK company’s domestic and small business customers into its own British business. Eon declined to comment on the number of job losses involved but two people briefed on the plans confirmed that about 4,500 jobs were targeted.

  • MarketWatch

    Innogy cuts guidance due to E.On takeover

    The German utility made a net profit of 527 million euros ($580 million) in the first nine months of the year, up from EUR217 million.

  • E.ON to tackle Npower after EU clears Innogy takeover
    Reuters

    E.ON to tackle Npower after EU clears Innogy takeover

    ESSEN, Germany/BRUSSELS (Reuters) - E.ON will move quickly to address problems at Npower, the loss-making British retail business it is taking over after European regulators approved its purchase of assets from peer Innogy, the German energy group's CEO said on Tuesday. "(Npower) is an open wound which bleeds heavily," Johannes Teyssen told journalists. The approval seals the fate of Innogy, which was carved out from RWE and listed three years ago as a separate entity, with its assets being taken over by its parent and E.ON.

  • Thomson Reuters StreetEvents

    Edited Transcript of IGY.DE earnings conference call or presentation 9-Aug-19 10:30am GMT

    Half Year 2019 Innogy SE Earnings Call

  • French Engie, Portugal's EDP aim be second-biggest offshore wind developer with JV
    Reuters

    French Engie, Portugal's EDP aim be second-biggest offshore wind developer with JV

    LONDON/PARIS (Reuters) - French utility Engie and Portugal's EDP said on Tuesday they will invest 15 billion euros ($16.7 billion) with the aim of becoming the world's number two offshore wind developer after Denmark's Orsted. The two utilities, which have no operational offshore wind parks so far, said they will combine their offshore wind assets and project pipelines, starting with a total of 1.5 gigawatts (GW) under construction and 4 GW under development. "From day one, the JV will be among the top five players in this market," Engie CEO Isabelle Kocher said at a press briefing on the new joint venture in London.

  • Reuters

    RWE open to partnerships in U.S. wind market - CFO

    FRANKFURT (Reuters) - German utility RWE would consider teaming up with peers and oil companies to make a move in the U.S. wind market, its chief financial officer Markus Krebber said on Wednesday. RWE ...

  • Reuters

    RWE beats first quarter forecasts on strong trading performance

    RWE, Germany's largest electricity producer, on Wednesday, posted higher-than-expected profit for the first quarter, boosted by its volatile commodity trading unit. On a standalone basis, which excludes operational contributions from its Innogy subsidiary, RWE's first-quarter adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) surged 70% to 510 million euros (443 million pounds). "This was due to the strong performance of trading business, which improved considerably compared to the weak first-quarter of 2018," RWE said in a statement, also confirming plans to pay a dividend of 0.80 euros per share for 2019.

  • Reuters

    Innogy's retail woes continue as first-quarter profit drops a third

    German energy group Innogy, which is being broken up by parent RWE and rival E.ON, on Tuesday said operating profit fell more than a fifth in the first quarter as it continued to lose customers in Britain. "In the company's UK retail business ... the persistently poor market environment resulted in a decline in customer numbers," Innogy said on Tuesday, keeping its 2019 outlook. In Britain, Innogy lost 103,000 customers in the first three months.

  • Reuters

    E.ON chief says Germany should charge CO2 tax, but spare consumers

    E.ON Chief Executive Johannes Teyssen on Tuesday proposed a carbon dioxide tax of 35 euros ($39.34) a tonne that would widen the burden-sharing for climate protection to big emitters such as transport and heat provision. The energy industry has met its CO2 reduction targets, mostly thanks to the EEG that pays for carbon-free wind and solar power supply.

  • Reuters

    Innogy has been approached regarding Npower - CFO

    FRANKFURT (Reuters) - Innogy has been approached by third parties about its ailing British unit Npower, for which it is considering all strategic options, its finance chief said on Tuesday, adding the ...

  • Reuters

    British retail energy woes weigh on E.ON, Centrica

    FRANKFURT/LONDON (Reuters) - E.ON and Centrica, two of Britain's so-called "big six" energy providers, warned on Monday of a toughening retail market, raising the chance of cost cuts in response to falling profits. Britain's major energy utilities have faced competition from small, more flexible rivals entering the fray while the government has put a cap on electricity prices, causing several companies to cut their earnings outlooks. "We will have to talk to the regulator," E.ON finance chief Marc Spieker told journalists on Monday after reporting first-quarter results and flagging cost cuts at its British unit, where profits fell by 60 percent.

  • Reuters

    BP-backed UK energy supplier Pure Planet cuts prices 2.4 percent

    British energy supplier Pure Planet, in which oil giant BP has a 25 percent stake, has cut its average annual dual gas and electricity price by 2.4 percent, it said on Wednesday. The cut is the company's second price drop this year and comes after all of the country's 'big six' suppliers raised their average prices around 10 percent in April in line with an increase in the energy regulator's price cap.

  • Reuters

    Sustained low British gas prices point to price cap reduction

    The steady decline of British wholesale gas prices shows no sign of reversing this summer, which should provide some relief to households when it is reflected in a lower price cap on energy tariffs this autumn. A cap on default electricity and gas bills - a flagship policy of British Prime Minister Theresa May to end what she called "rip-off" prices - came into force in January to set a maximum price suppliers can charge consumers on certain tariffs. Energy market regulator Ofgem said it would remove around 1 billion pounds of overcharging from consumer bills by forcing suppliers to limit the price of their default tariffs to the level of the cap, or below.

  • Reuters

    Macquarie consortium pays 1.8 billion euro for rest of Innogy Grid

    DUESSELDORF (Reuters) - A consortium of investors managed by Macquarie Infrastructure and Real Assets has bought the rest of Innogy Grid Holding for around 1.8 billion euros (£1.55 billion), previous owner ...

  • Reuters

    Britain's SSE approaches firms over deal to shed retail arm - Sky News

    (Reuters) - British energy company SSE Plc has approached companies including broadband provider TalkTalk Telecom Group about a deal to sell its household supply unit, Sky News reported http://bit.ly/2Lm9c2T ...

  • More British energy customers switch supplier in first-quarter despite price cap
    Reuters

    More British energy customers switch supplier in first-quarter despite price cap

    The number of British customers switching energy supplier in the first quarter of 2019 rose by 12 percent compared with the same period last year, data from industry group Energy UK showed, despite a government price cap which began in January. Energy regulator Ofgem was told by parliament last year to set the price limit after lawmakers said customers on the most commonly used standard tariffs were being overcharged for electricity and gas. Prime Minister Theresa May had called the tariffs a "rip-off".

  • Reuters

    Telecom Plus warns on profit hit after Ofgem price cap, sees 2020 rebound

    Adjusted profit before tax for the financial year ended March 31 is expected to be towards the lower end of its prior forecast of about 56 million pounds, the company said. Telecom Plus reported an adjusted profit before tax of 54.3 million pounds in 2018. Shares of Telecom were down 2.8 percent at 1448 pence by 0713 GMT.

  • Reuters

    German utilities' plans for new capacity

    The table below details the building plans of Germany's power plant owners and operators, based on information gathered by industry association BDEW and presented at the annual Hannover industrial fair ...