E.ON SE, Q1 2013 Earnings Call, May 08, 2013

E.ON SE reported group earnings results for the year 2012. For the year, the company reported sales of EUR 132,093 million compared to EUR 112,954 million a year ago. EBITDA was EUR 10,786 million compared to EUR 9,293 million a year ago. EBIT was EUR 7,027 million compared to EUR 5,438 million a year ago. Net income was EUR 2,641 million compared to net loss was EUR 1,861 million a year ago. Net income attributable to shareholders of the company was EUR 2,217 million compared to net loss attributable to shareholders of the company of EUR 2,219 million a year ago. Underlying net income was EUR 4,187 million compared to EUR 2,501 million a year ago. Cash provided by operating activities of continuing operations was EUR 8,808 million compared to EUR 6,610 million a year ago. ROACE was 11.1% compared to 8.4% a year ago. Earnings per share were EUR 1.16 compared to loss per share of EUR 1.16 a year ago.

The bids for the first round for Bord Gáis Energy Trading Limited are likely to be made in coming weeks as the State moves to sell the company as part of an asset disposal programme agreed with the EU/IMF troika. Michael G O' Sullivan, Finance Director of Bord Gáis, confirmed that it will be issuing an information memorandum, detailing what exactly is up for sale, to likely suitors by the end of this month. That will mark the formal beginning of a sales process that both the group itself and its shareholder, the Government, hope will be completed at some point later this year. According to reports, E.ON SE (DB:EOAN), GDF Suez S.A. (ENXTPA:GSZ) and Centrica plc (LSE:CNA) have all been named as bidders for Bord Gáis with a price tag of approximately €1 billion. O'Sullivan did not speculate about possible bidders' identity, but said that he expected that it would be a mix of industry players and possibly private equity funds. O'Sullivan added that there were "no surprises" on the list of those who had expressed an interest in buying the business. Pat Rabbitte, Minister for Communications, Energy and Natural Resources of Ireland said that he expected the sale to begin in the coming weeks.