E.ON, Europe's largest energy grid operator, has reported nine-month results in line with forecasts and stepped up investment in its power networks, as it works to connect growing volumes of renewable energy and meet rising electricity demand. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) came in at €7.11 billion for the first nine months of 2026, matching a Vara-compiled analyst consensus.

Investment rises to €5.2 billion

Investments in January to September rose to €5.2 billion, up from €5.1 billion a year earlier, with around 80 per cent flowing into energy networks. The German company said it ramped up grid investment in the third quarter after weather-related delays earlier in the year. Adjusted group net income rose 4 per cent to €2.2 billion.

Guidance reaffirmed for 2026

E.ON confirmed its targets for 2026, expecting adjusted EBITDA of €9.4-€9.6 billion and adjusted net income of €2.7-€2.9 billion, and reaffirmed its mid-term outlook through 2030. Its Energy Networks division recorded adjusted EBITDA of more than €5.3 billion, while Energy Infrastructure Solutions rose 15 per cent to €460 million.

Chief financial officer Nadia Jakobi pointed to "a substantial and growing need for investment in energy infrastructure" across the company's markets. E.ON expects to invest around €7 billion in its network business in 2026, as demand for grid connections from battery storage, data centres and electrified industry continues to grow.