E.ON’s operating business grew in the first quarter of 2020 in large part thanks to the takeover of innogy. Sales rose by €8.5bn year-on-year to around €17.7bn. Adjusted EBIT for the E.ON Group rose by 24 percent, from €1,175 million to €1,46m. The company’s adjusted net income of €691m was 6 percent above the Q1 2019 result of €650m. Innogy operation ceased to be managed and disclosed as a separate segment. In early March, an Extraordinary General Meeting of innogy SE adopted a resolution to transfer the remaining minority shareholders’ innogy stock. The merger squeeze-out adopted at the meeting takes effect when the transfer resolution and merger are entered into the Commercial Register. E.ON issued three corporate bonds with a total volume of €2.25bn. These drew sufficient investor demand to enable the company to secure attractive interest terms across all maturities, including a €750m bond maturing in 2023 with a coupon of 0 percent.
