March 12, 2018 / 6:45 PM / a month ago

E.ON sees Innogy deal boosting earnings in coming years

FRANKFURT (Reuters) - E.ON, Germany’s second-largest energy group, forecast its underlying net profit would remain broadly flat in 2018 but said that its joint plan with peer RWE to carve up Innogy would help boost earnings in the coming years.

FILE PHOTO - A shareholder carries a bag with the logo of E.ON during the company's annual shareholders meeting in Essen, Germany May 10, 2017. REUTERS/Thilo Schmuelgen

Adjusted net income will come to 1.3 to 1.5 billion euros ($1.60-1.85 billion) this year, compared with 1.4 billion in 2017, E.ON said on Monday.

The group said its bottom line would grow by 5 to 10 percent per year through 2020 but that the Innogy deal would help it surpass that target.

($1 = 0.8108 euros)

Reporting by Maria Sheahan; Editing by Christoph Steitz

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