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E.ON
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E.ON AG , an energy corporation based in Düsseldorf, Germany, is one of the 30 members of the DAX stock index of major German companies and a member of the "Global Titans 50" index. Its chief executive officer (Vorstandsvorsitzender) is Dr. Wulf H. Bernotat. The name comes from the Greek word aeon.
Company came into existence in 2000 through the merger of VEBA and VIAG.
In the UK, Powergen was eventually taken over itself by E.ON, an acquisition which was completed in January 2002.
In 2003 E.ON entered the gas market through the acquisition of Ruhrgas (now E.ON Ruhrgas).
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Encyclopedia
E.ON AG , an energy corporation based in Düsseldorf, Germany, is one of the 30 members of the DAX stock index of major German companies and a member of the "Global Titans 50" index. Its chief executive officer (Vorstandsvorsitzender) is Dr. Wulf H. Bernotat. The name comes from the Greek word aeon.
History
The Company came into existence in 2000 through the merger of VEBA and VIAG.
In the UK, Powergen was eventually taken over itself by E.ON, an acquisition which was completed in January 2002.
In 2003 E.ON entered the gas market through the acquisition of Ruhrgas (now E.ON Ruhrgas). E.ON Ruhrgas is represented in more than 20 countries in Europe.
E.ON attempted to acquire Endesa in 2006, however this acquisition was overtaken by a joint bid from Italian utility Enel in conjunction with Spanish company Acciona. E.ON did however acquire about €10 billion of assets that the enlarged Enel was required to divest under EU competition rulings.
Operations
E.ON is one of the major public utility companies in Europe and the world’s largest investor-owned energy service provider. It has, for example, acquired Sydkraft in Sweden, OGK-4 in Russia and Powergen in the United Kingdom. Sydkraft and Powergen have now been rebranded to E.ON Sverige and E.ON UK respectively.
As result of the merger E.ON inherited the subsidiaries of VEBA, VIAG and Ruhrgas in Central and Eastern Europe. It is also present in Russia, where it has a stake in the natural gas company Gazprom (6.4%) and control of the generation company OGK-4. E.ON is present in most of Scandinavia.
In the United States, E.ON has renamed LG&E Energy to E.ON US, and is headquartered in Louisville, Kentucky.
In Britain, E.ON will open a windfarm off the coast of Cornwall in 2008 and has, during Autumn and Summer 2007, been running "Wind of Change" adverts on British TV networks; the main advert was filmed in the English seaside town of Broadstairs.
Currently, E.ON is organized in five market units:
- E.ON Energie AG, which supplies power in continental Europe
- E.ON Sverige, which supplies power in Scandinavia
- E.ON UK, which supplies power in the UK
- E.ON US, which supplies power in the US
- E.ON Ruhrgas, which supplies gas in Europe
Financial Data
Financial data in millions
of euro Années | 2002 | 2003 | 2004 | 2005 | 2006 | Sales | 37 059 | 46 363 | 49 103 | 56 399 | 67 759 | EBITDA | 7 680 | 9 458 | 10 520 | 10 272 | 11 353
| Net results | 2 777 | 4 647 | 4 339 | 7 407 | 5 057 | Net debt | 13 979 | 7 855 | 5 483 | -3 863 | -268
| Staff | 107 856 | 66 549 | 69 710 | 79 947 | 80 612 |
- Source:
Sponsorship
In February 2006 it was announced that E.ON UK would sponsor the FA Cup. The four year deal which included the Womens FA Cup and the FA Youth Cup is worth around £40 million. E.ON are also the official energy partner of The Football League and now also sponsor a collection of home programmes on Channel Five in the UK. E.ON have previously sponsored the ITV Weather, Ipswich Town football club and the Rugby Cup.
E.ON were the main kit sponsor of Borussia Dortmund in the German Bundesliga.
E.ON Ruhrgas are the main sponsors of the IBU biathlon World Cup and are the main sponsors of the Ski jumping World Cup.
E.ON Sverige sponsors the E.ON Arena, the home arena of Swedish ice hockey team Timrå IK.
In The Netherlands E.ON is one of the main sponsors of the current Dutch Eredivisie Champion: PSV Eindhoven.
Environmental projects
E.ON's UK arm, E.ON UK, owns 50% of the London Array project, which is a very large wind generation scheme that will be built in the Thames estuary.
Criticism
The Company has come up against heavy criticism for its plans to build a new coal power station to replace its current facility at Kingsnorth, Kent in the UK. This would be the first new coal power station in the UK in 30 years.
Facilities
See also
External links
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