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E.ON Defines New Strategic Focus

Source: www.gulfoilandgas.com 11/9/2010, Location: Asia

E.ON will focus in the future on competitive businesses in Europe and enhance its efforts to leverage synergies across its businesses and business areas in Europe’s converging energy markets. E.ON is systematically implementing its new-build projects in Russia and will further expand its renewables capacity in North America.

In addition, E.ON intends to leverage its expertise in power generation and renewables in two other regions outside Europe and to expand its trading business on a global scale. By achieving a broader international footprint, E.ON plans for its businesses outside Europe to deliver one quarter of its total earnings by 2015. Going forward, E.ON will put even greater emphasis on the profitability of its existing and new businesses. E.ON aims to further enhance its performance through a new, simplified organizational setup and renewed efforts to enhance efficiency.

This new strategic focus will enable E.ON to achieve less capital-intensive growth and to address the business challenges it expects in the years ahead, resulting from publicpolicy decisions and an altered market environment.

The E.ON Supervisory Board thoroughly discussed the new strategic course on several occasions and fully supports it. Supervisory Board Chairman Ulrich Hartmann said: “Corporate strategy must be swiftly and resolutely adjusted to fit with the altered business environment. The strategic plan presented by the E.ON Board of Management is exactly the right answer to this challenge. It gives our company a clear, ambitious profile.”

E.ON will accelerate its climate-protection efforts: it now plans to halve the specific carbon emissions of its power generation in Europe by 2020 from a 1990 baseline, ten years earlier than previously planned. “We have the climate-policy objectives of the 2/4 European Union and the German federal government firmly in view. By systematically decarbonizing our power generation and by offering customers energyefficient products and services, E.ON will make a very substantial contribution to bringing about the transition to a climate-friendly energy supply and to reducing carbon emissions. Our motto at home and abroad is: Cleaner & Better Energy,” E.ON CEO Johannes Teyssen explained.

“E.ON will become more focused and at the same time more international. In Europe, we’re going to concentrate on what we can do best and on areas where we see the biggest opportunities for profitable growth. Outside Europe, we’re going to achieve additional business growth by deploying our expertise in areas where we’re a true outperformer. This approach will enable us to become an international energy specialist,” Teyssen said.

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