Earnings before interest and tax at Eon’s renewables division increased by €53m to €254m in the first six months of the year.
The energy company said its “solid” performance was led by offshore wind which recorded an EBIT increase of €150m compared to the same period in 2015.
Eon said the spike was due to its 288MW Amrumbank West wind farm in the German North Sea and 219MW Humber Gateway off the UK east coast being fully operational during the period.
The offshore wind result was offset by an adjusted EBIT decrease of almost €100m at Eon’s onshore wind and solar division from €150m in the first six months of 2015 to €53m this year.
“Onshore wind/solar’s sales and adjusted EBIT decreased primarily owing to declining prices and lower output in Europe. In addition, prior-year adjusted EBIT had benefited from book gains and a one-off effect,” it said.
Overall, the company recorded adjusted EBIT of €1.7bn for the first six months, up 15% on the previous year’s result.
Chief executive Johannes Teyssen said the results were “solid” despite the “persistently difficult environment”.
“We intend to further sharpen our clear focus on businesses with strong earnings,” he said.
Image: the Humber Gateway wind farm (Eon)
