$EOAN (-2,67%) published its quarterly figures for the first quarter of 2025 on May 14, 2025 and recorded significant growth (E.ON)

Key financial figures Q1 2025

• Turnover5.87 billion euros (Q1 2024: € 5.09 billion) - an increase of 15%.
• Adjusted EBITDA3.2 billion euros - an increase of 18% compared to the previous year.
• Adjusted EBIT1.49 billion euros - an increase of 23%.
• Adjusted consolidated net profit1.3 billion euros - an increase of 22%.Reuters, investor.atmeta.com)

The strong result is primarily attributed to higher investments in the network business and an improved operating performance. (MarketScreener)

Forecast for the full year 2025

E.ON confirms its forecast for the full year:

• Adjusted EBITDA: between 9.6 and 9.8 billion euros.
• Adjusted net income: between 2.85 and 3.05 billion euros(Reuters, MarketScreener)

Share price performance

In the wake of the positive quarterly figures, E.ON's share price rose to 14.89 euros. (Börse am Sonntag)

For further information and detailed presentations on the quarterly figures, you can visit E.ON's Investor Relations page: (E.ON).

E.ON ($EOAN (-2,67%) ) recorded a strong operating result in the first quarter of 2025: adjusted Group EBITDA rose by 18% to €3.2 billion and adjusted Group net income by 22% to €1.3 billion. The Group invested € 1.5 billion, primarily in energy networks (€ 1.2 billion). The Energy Networks business division benefited from higher transmission volumes and catch-up effects. Energy Retail and Infrastructure Solutions also showed growth momentum. The forecast up to 2028 remains confirmed. A dividend of € 0.55/share is planned for FY 2024 (+4% compared to the previous year).

Tui customers book summer vacation later and winter loss falls + Eon increases operating profit strongly at the start of the year + Barclays starts CTS Eventim with 'Overweight' and target price 130 euros + Deutsche Pfandbriefbank confirms forecast

Tui customers $TUI1 (-0,96%)book summer vacations later and winter losses fall

• The late Easter date is pushing back the business of the travel group Tui this year.
• On the one hand, the Group missed out on sales and profits from Easter vacations in the winter half-year.
• On the other hand, people booked their trips for the summer later than usual, as the travel group announced in Hanover on Wednesday.
• Nevertheless, Tui was able to reduce the typical seasonal loss in the months from October to March.
• For the financial year to the end of September, CEO Sebastian Ebel sees the company on course to achieve its targets thanks to higher travel prices.
• In the winter half-year, Tui achieved a turnover of just under 8.6 billion euros, almost eight percent more than a year earlier.
• The operating loss adjusted for special effects (adjusted EBIT) shrank by 15 percent to 156 million euros, although the second quarter was weaker due to the lack of Easter business.
• The bottom line for the shareholders in the six months was a loss of just under 392 million euros, six percent less than in the previous year.
• For the current financial year, Ebel is still aiming for an increase in turnover of 5 to 10 percent.
• Adjusted operating profit is expected to increase by 7 to 10 percent.

Eon $EOAN (-2,67%)increases operating profit strongly at the start of the year

• Higher investments and colder weather have helped the energy supplier Eon to achieve a jump in earnings in the first quarter.
• Adjusted operating earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 18 percent year-on-year to €3.2 billion at the start of the year, as Eon announced in Essen on Wednesday.
• "We have laid a good foundation for a successful financial year 2025," said CFO Nadia Jakobi according to the press release.
• She confirmed the annual forecast as well as the targets for 2028.
• In the first quarter, Eon invested almost 1.5 billion euros, around 22 percent more in the expansion of the electricity grid, such as the modernization and digitalization of the infrastructure and new grid connections.
• The grid business accounts for the lion's share of the Group's earnings and is dependent on regulatory framework conditions.
• At the same time, however, Eon was also helped by the fact that it was colder this year than in the previous year and the demand for energy was correspondingly higher.
• Adjusted net profit for the first three months amounted to EUR 1.3 billion, which corresponds to an increase of 22 percent.
• Meanwhile, the profit attributable to shareholders fell by 9 percent to 529 million euros, which is attributable to non-operating earnings effects from derivatives, for example.

Barclays starts CTS Eventim $EVD (+2,19%)with 'Overweight' and target price 130 euros

• The British investment bank Barclays has started the valuation of CTS Eventim shares with an "Overweight" rating and a target price of 130 euros.
• According to a recommendation issued on Tuesday, Bernd Klanten expects the solid growth and profitability increases at the ticket retailer and event organizer to continue.
• He expects the share price to double within five years.

Deutsche Pfandbriefbank $PBB (+2,12%)confirms forecast

• Deutsche Pfandbriefbank (pbb) has confirmed its targets after a slightly better quarter than expected by analysts.
• The commercial real estate financier continues to be concerned about the situation in the USA.
• For this reason, the Pfandbriefbank is reviewing all options for its existing business in the United States as well as the timing of the share buyback announced at the beginning of the year.
• In the first three months, the SDax-listed company announced on Wednesday in Garching near Munich that pre-tax profit had fallen by around 18 percent year-on-year to 28 million euros.
• Earnings fell by almost a fifth to 118 million euros.
• However, analysts had expected an even weaker result.
• Bank CEO Kay Wolf therefore also spoke of a solid quarter.
• "We were able to consolidate earnings in our core business and significantly reduce risk costs," he said and also confirmed the forecast for 2025 as well as the medium-term targets up to 2027.

Wednesday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• SAP SE € 2.35
• Rheinmetall AG €8.10
• freenet AG € 1.97
• WashTec AG € 2.40
• PNE AG € 0.08
• NORMA Group SE € 0.40
• Uzin Utz SE € 1.90
• Deutsche Real Estate AG € 0.04

• Quarterly figures / company dates USA / Asia
• 05:00 Sony annual results and strategy update
• 08:30 Foxconn quarterly figures
• 17:00 American International Group | American Tower AGM
• 18:00 First Solar | AMD AGM
• 22:00 Cisco Systems quarterly figures | Harley-Davidson AGM

• Quarterly figures / Company dates Europe
• 07:00 Bilfinger | Brenntag | Daimler Truck | Eon | Tui | Deutsche Pfandbriefbank
• 07:00 Knaus Tabbert | ABN Amro | Grand City Properties Quarterly figures
• 07:00 Fraport traffic figures April
• 07:30 Renk | Telefonica SA | Alstom | Indus Holding | Bouygues quarterly figures
• 07:45 Eni annual results and AGM
• 07:55 PVA TePla quarterly figures
• 08:00 Verbund AG | PVA TePla | Imperial Brands | Burberry quarterly figures
• 08:00 Daimler Truck | Tui Analyst Conference
• 08:30 Alstom Analyst Conference
• 09:00 Brenntag PK
• 09:30 Deutsche Pfandbriefbank PK
• 10:00 Porsche Automobil Holding SE Quarterly Figures | BMW | Deutsche Börse
• 10:00 K+S | Traton AGM | Bilfinger PK
• 10:15 ES: ECB Governing Council member Nagel, participation in panel discussion at Nova Economia Forum
• 11:00 1&1 AGM | Eon Analyst Conference
• 13:00 Bilfinger AGM
• 14:00 Brenntag Analysts' Conference | Renk Analysts' Conference
• 15:00 Patrizia Analyst Conference 1Q
• 17:50 Pirelli quarterly figures
• 18:00 Deutsche Euroshop | Euronext Quarterly figures

• Economic data

08:00 DE: Consumer prices (final) April PROGNOSE: +0.4% yoy/+2.1% yoy Preliminary: +0.4% yoy/+2.1% yoy Previous: +0.3% yoy/+2.2% yoy HICP PROGNOSE: +0.5% yoy/+2.2% yoy Preliminary: +0.5% yoy/+2.2% yoy Previous: +0.4% yoy/+2.3% yoy

11:15 MA: Fed Governor Waller, speech on Central Bank Research

14:40 EU: ECB board member Cipollone, chairs the panel on liquidity issues

15:10 US: Fed Vice Chairman Jefferson, speech on economic outlook

No time given:

- EE: Governing Council member Muller, presentation of the Eesti Pank Financial Stability Report

- AT: Opec monthly oil market report

- Company portrait

- Leading energy network operator

- Provider of energy-related services

- Stable business model

- Attractive market environment

- Value development

- Profiteer of the energy transition

- Nuclear energy phase-out in April 2023

- Management & strategy

- Financial situation

- Company outlook

Link: https://shorturl.at/PPI2I

$EOAN (-2,67%)
$RWE (-0,46%)
$ENR (-0,15%)
#eon

April was here and it's already over again. Trump's liberation day was not as liberating as we now know. Nevertheless, a lot happened and the stock market remained very volatile in April. After initially falling sharply, it stabilized towards the middle of the month and ultimately rose again, leaving the S&P500 at -3.62% at the end of the month.

In April, I recorded a loss of 3.68%. Given the size of my portfolio, this corresponds to a value of almost €4,000.

Thanks to the dividends, which are gross here in the picture (net = €272.65), this amount is then reduced to just under €3,700.

The Dax (+0.80%) has beaten me again, but compared to the HSBC MSCI World (-4.24%) I am doing better again.

Over the year as a whole (YTD), I have lost ground again to the DAX, which has risen again. At the same time, however, I was able to further extend my lead over the MSCI World. However, as can be seen above, the MSCI World caught up considerably towards the end of the month.

April again showed that my portfolio is quite stable. That's the price you pay if you give up positive returns. Of course, everyone has to decide for themselves how well they can sleep.

My high and low performers in April were (top 3):

Nintendo ($7974 (+2,49%) ) +15,32%

Eon ($EOAN (-2,67%) ) +10,42%

Tesla ($TSLA (+2,05%) ) +8,87%

Pepsi ($PEP (+0,31%) ) -14,93%

UnitedHealth ($UNH (+4,71%) ) -20,62%

Petroleo Brasileiro ($PETR4 (+0,61%) ) -20,89%

Interesting that UnitedHealth was the second-worst stock in February, the second-best in March and now the second-worst again. A very volatile stock at the moment. Understandable, however, after the recent events.

Dividends:

In April, I received €272.65 net from a total of 15 distributions.

Compared to March 2024 (€182.13), this was an increase of 49.7%.

I now expect another increase in May before it falls sharply again afterwards.

Investments:

As in February and also in March, I am still building up my nest egg again. This was actually planned to be completed in April or May at the latest. But now the car is broken and the repairs will cost a lot. So the replenishment continues.

The special payment in April went into the $XEON (+0,03%). I also treated myself to a South African government bond, which will also mature in the year the first loan is due. I'm happy to take the 8% until then and if I don't see the money again, then it was a try and I can cope with it.

Buying and selling:

I sold Monster with a plus of 12.3%. Simply because I want to reduce the size of the portfolio, Monster does not pay a dividend and we were very close to the all-time high in April.

I bought or increased Gladstone Investment (I'm happy to take the special dividend in June), Texas Instruments, LVMH, Rio Tinto, United Health, Lockheed Martin and Waste Management.

Savings plans (125€ in total):

• Cintas ($CTAS (+1,28%) )
• LVMH ($MC (+0,4%) )
• Microsoft ($MSFT (+0,27%) )

Target 2025:

My goal is still to have € 130,000 in my portfolio at the end of the year. The goal is to be achieved by reinvesting the dividend, making payments and, of course, increasing the share price. The share price increase is of course impossible to predict in any way, so the motto is: if the share price falls or does not rise enough, more cash is needed.

This comes from selling useless stuff on eBay, additional income from e.g. "neighborhood help" etc.

The worse the share price, the more additional cash has to be raised.

Target achievement at the end of April 2025: 22.22%

I'm slowly lagging behind the average. It's definitely going to be very sporty this year.

Let's see what else is coming. Now that Trump has probably signed a commodities deal with Ukraine, the share price will rise again somewhat, at least in the next few days. After that it will be uncertain again.

How was your April? As the getquin monthly report for March was not published, I am now looking forward to the April report.

If you liked the report and would like to read more, feel free to follow me,

If you're not interested, you can keep scrolling or use the block function.

March is already over, daylight saving time is on and by the time you read this, it will be "liberation day". Let's see what Mr. Trump does today at noon. But that will probably be the subject of April.

For now, let's take a look back at my March 2025.

I posted a loss of 3.09% in March. With my portfolio size, this corresponds to a value of almost €4,000. The Dax (-1.72%) beat me again, but compared to the HSBC MSCI World (-7.88%) I am still doing very well.

Over the year (YTD), I lost ground to the DAX, which remained fairly stable, but at the same time I was able to extend my lead over the MSCI World. After all...

Overall, however, I am also satisfied in March. As in February, my portfolio is quite stable compared to the MSCI World. Yes, in good phases I forego profits, but I don't have so many losses now. Volatility is supposed to be a real mental challenge for some people. I'm just glad that things are a bit more subdued for me.

My high and low performers in February were (top 3):

$EOAN (-2,67%) EON +13.45%

$UNH (+4,71%) UnitedHealth +7.15%

$ALV (+0,6%) Allianz +6.60%

$RACE (+1,12%) Ferrari -12.35%

$LLY (+3,39%) Lilly -13.04%

$MC (+0,4%) LVMH -17.71%

Funny that UnitedHealth was the second worst performing stock in February and now the second best.

Dividends:

In March, I received a net €165.60 from a total of 22 distributions.

Compared to March 2024 (€128.38), that was an increase of 28.99%

Investments:

As I mentioned in February, I am still building up my nest egg again. This is also not yet complete.

A special payment is due in April, but this will go into the $XEON (+0,03%) as I am saving all the special payments for the loan repayment in 5 years' time.

I have actually stopped some savings plans in order to have more money for individual purchases or to build up cash. More on this later.

Buying and selling:

There were no sales this month.

I bought Ferrari, and there is still room here until the position is full.

As I mentioned above, I stopped some savings plans. Realty, STAG, Gladstone Investment and Hercules Capital have been stopped. I would like to add to Realty again to fill the position (I'm still €300 short). The price of the others is moving sideways, so I imagine that I will be able to buy them at a later date at the same price.

Savings plans (total €175):

• Cintas ($CTAS (+1,28%) )
• LVMH ($MC (+0,4%) )
• Monster Beverage ($MNST (+1,3%) )
• Microsoft ($MSFT (+0,27%) )

Goals 2025:

My goal is to have €130,000 in my portfolio at the end of the year. The goal is to be achieved by reinvesting the dividend, making payments and, of course, increasing the share price. The share price increase is of course impossible to predict in any way, so the motto is: if the share price falls or does not rise enough, more cash is needed.

This comes from the sale of useless items on eBay, additional income from e.g. "neighborhood help", etc. The worse the share price, the more additional cash has to be raised.

Target achievement at the end of March 2025: 21.05%

So I'm on the right track (so far), although I would have needed a bit more in March to maintain the average. Well, everything is still open at the moment.

Now I'll wait and see what tariffs come in today (or not), look forward to the dividends and just wait and see. "Because doing nothing often leads to the very best of something."

How was your March? I have the latent hope that, for once, I did better in March than my usual 50% or so of the getquin community.

#washbaerreview

1. energy consumption of data centers and the role of RWE

One user shared a detailed analysis on the increasing energy demand of data centers, especially due to Artificial Intelligence (AI) applications. He emphasized that companies like RWE could benefit from this growing energy demand, as they play a key role in supplying this infrastructure as an energy provider. The article highlights that RWE is well positioned to benefit from this trend by providing power to data centers and investing in renewable energy.

2nd target price adjustment by Berenberg

According to an article on Getquin, Bank Berenberg has lowered its target price for RWE from €46.50 to €42, but maintains its Buy recommendation. This adjustment could be due to current market conditions or company-specific factors.

3 RWE's exposure to CO₂ utilization

In a discussion on carbon capture and utilization (CCU), RWE is mentioned as one of the companies that filters and compresses gases with CO₂ from the air and makes them usable for industrial purposes. This commitment underlines RWE's efforts to integrate more sustainable practices into its business models.

4. expected dividend increase

Another article points out that RWE is one of the companies expected to increase its dividend. This expectation could be interesting for investors looking for stable and growing dividend yields.

🔥In summary, the discussion on Getquin shows that RWE is active in various areas, from adapting to increasing energy demand through technological developments to implementing sustainable practices and the prospect of financial benefits for investors.

$RWE (-0,46%)
$EOAN (-2,67%)
$JPM (-0,08%)
#energy
#energie
#strom

At 53 billion euros, the 40 DAX companies are likely to pay out almost one billion euros more this year than a year ago - more than ever before.

The reason for the strong development is high consolidated profits and unexpectedly rising dividends at a good dozen companies, including $ALV (+0,6%) Allianz, $MUV2 (-0,44%) Munich Re and $RHM (+2,55%) Rheinmetall.

At 109 billion euros net profit, the DAX companies are likely to have earned as much in 2024 as in the previous year, according to Handelsblatt calculations. Slump in earnings for the three car manufacturers $BMW (-1,03%) BMW, $MBG (-1,7%) Mercedes and $VOW (-0,99%) VW will be offset by companies in other sectors, in particular the major insurers Allianz, Munich Re and $HNR1 (+0,22%) Hannover Re, but also $DTE (+1,12%) Deutsche Telekom, $HEN (-0,55%) Henkel and $EOAN (-2,67%) Eon.

More than a dozen DAX companies have announced higher dividends than the market had previously expected. For example $ALV (+0,6%) 15.40 euros per share after 13.80 euros in the previous year. Analysts had forecast just under 15 euros. The insurer is thus distributing just under six billion euros. This is a record in the German corporate landscape.

The biggest jump is at $MUV2 (-0,44%) Munich Re: The reinsurer is increasing its dividend by five euros per share to 20 euros.

The two healthcare specialists $FRE (+0,9%) Fresenius and $FME (+1,26%) Fresenius Medical Care, the brand manufacturer $HEN (-0,55%) Henkel, the automotive supplier $BTR Continental, the $CBK (-1,65%) Commerzbank, $RHM (+2,55%) Rheinmetall and $HNR1 (+0,22%) Hannover Re have raised their dividends, in some cases significantly more than expected. This is also due to rising profits, which justify a higher profit share for shareholders.

The largest dividend payers in the DAX are

• $ALV (+0,6%)
• 
  $DTE (+1,12%)
• 
  $MBG (-1,7%)
• 
  $SIE (-0,96%)
• 
  $VOW (-0,99%)

Like the car manufacturers, a number of companies in the DAX remain below the usual international payout ratios, including the family-run groups $BEI (+0,67%) Beiersdorf and $MRK (-2,07%) Merck. They pass on less than 30 percent of their profits. This leaves enough of a buffer so that dividends do not have to be reduced immediately in more difficult times.

Germany's most valuable group, $SAP (+0,67%) SAP, with a payout ratio of 85%, is pushing the limit: net profit of 3.1 billion euros in the past year compares with a total dividend payout of 2.7 billion euros. However, the profit was burdened by a one-off effect.

So far, a total of 20 companies have increased their dividends, with only $BAS (-2,28%) BASF and the three car manufacturers. Four companies have yet to do so: $RWE (-0,46%) RWE, $SY1 (+0,97%) Symrise and $VNA (+1,44%) Vonovia are likely to increase their dividends, while analysts expect $PAH3 (-0,24%) analysts expect a reduction at Porsche Holding.

Source (excerpt) & chart: Handelsblatt, 15.03.25