The E.ON AG with seat in Duesseldorf is one the energy service provider with a strong market position, leading world-wide, in the German gas and company developed in the year 2000 from a fusion of the VEBA and the VIAG.

Company structure

The E.ON AG (Duesseldorf) is getting thing a society with 100%-Beteiligungen at the E.ON energy AG (Munich), the E.ON Ruhr gas (meal), the English E.ON UK (Coventry) and the American E.ON U.S. (Louisville, Kentucky) as well as to the E.ON Nordic OFF, formerly Sydkraft OFF

The E.ON energy AG belonged beside RWE, EnBW and Vattenfall to the four large current supply enterprises in Germany and possesses numerous participation in regional power suppliers (revue) in Germany. The substantial participations of the majority at revue in Germany are: E.ON Avacon, E.ON Bavaria, E.ON edis, E.ON Hanse, E.ON center, E.ON Westphalia Weser and E.ON energy. Besides E.ON possesses energy of portions of enterprises in the Netherlands, Hungary, the Slowakei, Romania, Tschechien, Switzerland, Italy and Poland. The E.ON energy AG produces well 30 per cent of its generation of current by nuclear power stations.

The E.ON Ruhr gas is one of the prominent gas companies in Europe and one of the world largest private natural gas importers. Customers are regional and local energy enterprise and industrial companies. The chairman of the board of the E.ON Ruhr gas, Dr. Burckhard miner, belonged as only Germans in the management board of the Russian natural gas company Gazprom on, to the Ruhr gases a minority participation holds. To the E.ON Ruhr gas company internationally AG also - particularly as a holding company set up - the AG beside the E.ON Ruhr gas AG, the E.ON to Ruhr gas AG&Co kg, the E.ON Ruhr gas belong to transport.

The E.ON Sverige Sydkraft, and E.ON Finland is combined into the Market unit E.ON Nordic OFF, formerly.

The operational business of the E.ON U.S. becomes of the Louisville gas and Electric company (LG&E) as well as of Kentucky utilities company (KU) cares for.

Executive committee

Chairman of the board of the E.ON AG is Dr. Wulf Bernotat. It stepped at the 1. May 2003 the follow-up by Ulrich Hartmann and Professor Dr. Wilhelm Simson on. Since May 2003 Johannes Teyssen, attained a doctorate political economist and lawyer leads, as a chairman of the board the E.ON energy AG.

Reference numbers

In the financial year 2005 the conversion (according to, published prematurely, in the context of the assumption requirement for Endesa the provisional reference numbers) was about 56.4 billion euro. The company surplus amounted due to the sales of business parts to 7.4 billion euro. The tidy dividend for each share is to rise around 17 per cent to 2,75 euro; additionally are still 4.25 euro from the sales from Degussa portions RISE UP as special dividend to be paid. This increase would represent the sieved dividend increase in consequence.

Company history

After an appropriate announcement on a press conference on 27 September 1999 fuse-fusing those steeped in tradition energy companies VEBA and VIAG in the year 2000 to the E.ON AG. One of its daughters, the E.ON energy AG, Munich, developed thereby from Prussias Elektra and Bayernwerk.

In November 2001 the E.ON AG announced the assumption of a majority that at the Federal Cartel Office Ruhr gas AG, meal. After the refusal by the office for trust and the following distribution of a Minister permission a right conflict developed around the execution of the assumption with competitors, which until March 2003 dragged on. The E.ON AG became then the exclusive owner that Ruhr gas AG, that with a market share of approx. 60% the largest German gas supply company with seat in meals. Umfirmiert on 1 July 2004 those Ruhr gas AG in E.ON Ruhr gas AG and so also outward part of the E.ON company.

Since then E.ON sold numerous participation, e.g. so the portable radio range VIAG Interkom (to the British Telecom; today CO2 Germany) and the real estate company Viterra and thereby on the current and gas business focuses itself. Instead in Eastern Europe numerous participation was acquired on now denationalized power supply firms. Chairman of the board Wulf Bernotat called the change from E.ON after the sales of Ruhr gas Industries in the second quarter 2005 to a "“magnifying glass-pure energy enterprise"” almost final. Only exception represents the remaining 43-prozentige participation in the Degussa AG, which must be sold however in the context of the Minister permission of the undersecretary of state Alfred Tacke among ministers of economics Werner Mueller for the assumption from Ruhr gas to in the middle of 2007. It is intended to pay proceeds from the sales directly to the shareholders. A probable scenario consists of the fact that RISE UP the remaining portions acquires, which already holds the stock majority by Degussa and possesses a purchase option.

Of many years the ready money existence high by the numerous the investments and profit (end of the 3.Quartals 2005 scarcely 16 billion euro) and the likewise high Free cash-flow (2004: 3.2 billion euro) ensures again and again for voices that E.ON needs a large assumption around its capital profitable to put on. Before this background it appears surprising that the bid for Scottish power was not continued to supplement by 570 pence for each share (altogether approx. 18 billion euro) and the assumption attempt failed thus. Despite this failure the discipline of the management to want to pay in view of this pressure no superelevated purchase price taken up by analysts such as investors quite positively. Inquiries after a special dividend were abgeblockt repeated by chief executive Bernotat. Therefore it is conceivable that E.ON thinks about further assumptions. However for during the coming decade the which are approaching power station new buildings in the course of the atomic door (E.ON produces 50% of its river from nuclear power) investments in two digit billion height will become due. E.ON is about further to enter into the business with liquefied Naturgas (LNG) which makes extensive investments necessary into the appropriate infrastructure, and builds beyond that together with Gazprom and BASF the northEuropean gas line by the Baltic Sea. Therefore it is also conceivable that E.ON for these projects holds back moneys.

Since the fusion of VEBA and VIAG in the year 2000 due to the numerous enterprise sales the number of persons employed of 200.000 coworkers reduced company to approximately 78,000 (of it 50 per cent abroad) with the new E.ON.

Beginning of the yearly 2006 shook an affair around the payment of journeys for important decision makers of local big customers the subsidiary company E.ON Ruhrgas. Supervisory board members of public utilities, local politicians, were in most cases invited from E.ON to journeys, whose technical necessity for the activity in the supervisory board is not to be recognized necessarily. A connection with so-called "“political landscape conservation"” and long-term supply contracts of public utilities with E.ON Ruhrgas is obvious.

Possible fusion with the Spanish ENDESA

On 21 February 2006 E.ON submitted a bid for the Spanish power supplier Endesa at a value of 29.1 billion euro in bar; that corresponds to 27.50 euro for each share and thus net about 20% more, than the katalonische competitor gas Natural had ordered in August 2005 (21.30 "€). Nevertheless is not yet to judge whether E.ON with its requirement success will have; one speculates to much upon counter offers of other European enterprises or an intervention of the Spanish government, that is interested in a national solution shown, and which had supported assumption plans of gas Natural. This offer had rejected Endesa in December, because it was much too low and the industrielle logic is missing. Unofficially also reservations of Madrid played a role against Barcelona.

The E.ON Offert of 29.1 billion euro could be supplemented according to the first negotiations by at the end of of February some more, because Endesas of market prices had risen between August and February of 12-14 to 22-28 euro. E.ON boss Wulf Bernotat estimates that the transaction inclusive. Endesas 18 billion net debts, 3 billion pension resetting and about 5 billion for minority shareholders on 55 billion "€ comes, with which it would be the largest of German history.

In case of a fusion, for whose financing E.ON of the 2005 sales took place from Ruhrgas Industries and Viterra benefits, the world-wide largest power supplier would develop: 50 million customer, 75 billion conversion (47 E.ON, 18 the Spaniards) in approximately 30 states and altogether 107,000 persons employed in the current and gas market as well as with the alternative energy. The stock exchange courses of the two enterprises tightened in consequence around some per cent.

Articles in category "E.ON"

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