E.ON SE
E.ON SE: Agreement reached with Gazprom on price adjustments to long-term gas supply contracts
E.ON SE / Key word(s): Change in Forecast 29.03.2016 15:52 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- E.ON SE: ad-hoc announcement Agreement reached with Gazprom on price adjustments to long-term gas supply contracts Non-recurring effect improves E.ON's outlook for financial year 2016 Negotiations between Uniper, the fully-owned E.ON subsidiary, and Gazprom on price adjustments to long-term gas supply contracts have led to an agreement earlier than anticipated. The agreement resolves pending arbitration proceedings between the companies. The agreement will enable E.ON to release some of the provisions recorded in prior years, resulting in a non-recurring positive EBITDA effect of about EUR380 million in the first quarter of 2016. The release of the remaining provisions, made in several years, will result in cash outflow of circa EUR800 million probably in the second quarter. The non-recurring positive effect serves to increase E.ON's forecast range for its 2016 EBITDA from between EUR6.0 and EUR6.5 billion to between EUR6.4 and 6.9 billion.1 Similarly, instead of underlying net income of EUR1.2 to EUR1.6 billion, E.ON now expects the range to be between EUR1.5 and EUR1.9 billion. 1) As already stated on March 9, 2016, in conjunction with its outlook, considering the vote at the E.ON SE Annual Shareholders Meeting on June 8, 2016, on the spinoff of a majority stake in Uniper and assuming that the spinoff will become effective in 2016, E.ON's outlook for 2016 will have to be adjusted due to accounting effects resulting from the spinoff. E.ON then expects its outlook to be significantly lower. Further details will be communicated along with the publication of the spinoff documents for the Annual Shareholders Meeting. Due to accounting effects, this does not allow any conclusions on the expected EBITDA and underlying net income for Uniper in 2016. 29.03.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: E.ON SE E.ON-Platz 1 40479 Düsseldorf Germany Phone: +49 (0)211 4579-0 Fax: +49 (0)211 45 79-5 01 E-mail: investorrelations@eon.com Internet: www.eon.com ISIN: DE000ENAG999 WKN: ENAG99 Indices: DAX, EURO STOXX 50 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Terminbörse EUREX; Mailand End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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