Sunday, March 22, 2015

E.On annual report 2015

E.On, front page, annual report, 2014

The share price of E.On has lately been going down, down, down and no wonder when the clowns keep running the puppet show. I no longer remember exactly what the market response was but no matter what it was it should have been down by a significant figure! What was then in the report?
For the report in full please go here, for the previous summary by me then clock on E.On report Q3 2014 and to find out more about E.On then please visit analysis of E.On. 2014.

Back in the Q3 report I was not very happy but now I am simply one step more furious! There is the Peter Lynch and later on Warren Buffett saying: invest in companies that an idiot can run because one day an idiot will run it. Energy is pretty basic. Every individual as well as company needs it to be able to do ANYTHING! Any idiot can sell energy! My question in this situation is why does the idiot remain and how long will the idiot keep sitting there? Below is the answer to that question!

E.On, shareholder structure, 2014

And as you can see, obviously the idiot will sit there for ever, at least for as long as they keep paying out a dividend since many institutional investors demand that and the idiot was clever enough to avoid that issue. This was done by simply once again changing the dividend payment rules that last year were fixed to 50% of the earnings which this year would then have meant that they should get money of us investors so they quickly changed it to paying 50 cents per share... so the idiot remains... the idiot did however half remove himself by saying that the company would be split in two parts and he would obviously not be the boss of both of them but let us see what will happen there. The idiot seems to be clever enough for maximizing his own profit and benefit.

Below are the wonderful highlights for the year 2014! Show me a value of importance in that table that increased and I will buy you a beer! Practically everything was down! Ok, ok, increased electricity sales that that is good and more female managers are also good but even better would be to replace the idiot with one of those females managers.

E.On, highlights, annual report, 2014

Finally is the income statement which does contribute with that much more besides from what is already above... Sales down and I want you to really observe the loss figure: -3160 MILLION euro! I mean Q3 I found awful because then they reported a nine month income of 255 million euro. So during those final three months in the end of the year when theoretically AND practically people are using more energy to heat their homes and bring some light into their lives... during THIS period E.On makes a loss of -3415 million euro.  Wooow! I give standing ovation to the idiot! Well done! Bravo! Here we see the downside of selling off part of a company. All of a sudden you must look over your balance sheet and woooopsy was the value of that company part 2 billion lower then what we had in the books? Woopsy! Oh, well, these things happen... or?

E.On, annual report, 2014, income statement

Conclusion: It is time to fire the idiot! Please, please, please with sugar on the top. If you are sitting as one of those institutional investors actually trying to protect your customers money then please remove the idiot from E.On. Please take your responsibility as a majority shareholder and stop this nonsense from going any further. Fire the idiot!

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