Wednesday 24 May 2017

E.On annual report 2016

Front page of the annual 2016 report from E.On

For the report in full please go here and to see my previous summary please visit E.On annual report 2015 and to find out more about E.On then please go to analysis of E.On 2016.

In the financial statement below we can very clearly see how bad the situation is for E.On. Sales decreased with another -10% compared to last year and E.On made the spectacular loss of -16 billion €. MINUS SIXTEEN BILLION EURO! Well done guys, well done! What I love even more right now with E.On is that they even have negative equity. Great guys! Well done! Keep it up!

Financial statement of E.On 2016

Conclusion: E.On is pretty messed up to say it mildly. In my silly mind I expected either E.On or Uniper to be able to show a positive result after the split. Silly me. Both made huge losses as you will see when I get around to report on Uniper. The fantastic story with E.On is how long can a completely incompetent CEO still remain without getting fired? Is the answer really until he decides himself that it is time to leave? Can the German institutional shareholders really be that incompetent in their functions? By the look of it the answer is yes to that one. I will remain as an extremely grumpy shareholder cursing the day that I decided to step into the energy sector and to buy E.On.

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