E.ON is a major investor-owned energy supplier. At facilities across Europe, Russia, and North America, our more than 62,000 employees generated approx. EUR122.5 billion in sales in 2013. In addition, there are businesses in Brazil and Turkey we manage jointly with partners. E.ON’s diversified business consists of renewables, conventional and dezentralized power generation, natural gas, energy trading, retail and distribution. We supply around 35 million customers 1)[Footnote marker for Footnote No. 1] with energy. With our broad energy mix we own about 61 GW generation capacity and we are one of the world’s leading renewables companies. We have an ambitious objective: to make energy cleaner and better wherever we operate. With our strategy cleaner & better energy we’re transforming E.ON into a global provider of specialized energy solutions which will benefit our employees, customers, and investors alike.
Led by Group Management in Düsseldorf, the E.ON Group is segmented into global units (by function) and regional units (by country). Five global units manage our generation portfolio, renewables business, global commodities, new-build projects and innovative technology, and exploration and production business. Eleven regional units manage our retail operations, regional energy networks, and distributed-generation activities in Europe. We’re also engaged in power generation and wholesale power marketing in Russia, a special-focus country. We created a new unit, E.ON International Energy, to expand our business outside Europe. It will leverage our expertise in conventional and renewable power generation to regions where energy demand is growing rapidly. Group-wide entities deliver support functions like IT and procurement.
E.ON was formed in June 2000 by the merger of VEBA and VIAG, two of Germany’s largest industrial groups, each with an impressive history in its own right.
VEBA and VIAG were founded in the 1920s to serve as holding companies for state-owned industrial enterprises. Privatized in the 1960s and 1980s, the two corporations were listed in the Dax (the stock index of Germany’s top 30 blue chips) and continued their success, now as investor-owned companies. Following the merger, E.ON executed a far-reaching focus strategy and today is one of the world-wide largest investor-owned energy company.
The E.ON Story, which provides you with an overview of the group’s development from its foundation to the present, represents an important chapter in the history of European industry.
E.ON History 1923-99
E.ON is celebrating its 10 year-anniversary in 2010, but the company’s roots actually go back much further. In 2000, two conglomerates – VEBA and VIAG – merged, fusing together experience reaching back as far as the 1920s.
The same is also true of some of the companies that E.ON has acquired in its 10-year history. Take the subsidiary E.ON Ruhrgas for instance. It was founded in 1926 and today pools the group’s gas activities.
The corporate histories of VEBA and VIAG are characterized by constant change. The companies’ operations included everything from energy to specialty chemicals, telecommunications, real estate as well as many other areas besides. Their portfolios consisted of household names like VAW Aluminium, Klöckner & Co, Stinnes, Schmalbach-Lubeca, Degussa, E-Plus and Viag Interkom.
In 1923, the German government founded VIAG in Berlin to manage its industrial interests. The group held a range of companies, including precursors to VAW Aluminium AG and SKW Trostberg AG. The government of the State of Prussia in Berlin then established VEBA as a financial holding company in 1929.
In 1965, the Federal Republic of Germany listed the majority of VEBA shares on the stock market. This was followed up by further steps towards privatization in 1983 and 1987. During this process VIAG was also privatized, with the government selling its final shares in 1988. Both companies were admitted to the German stock market (DAX).
The next step was far-reaching realignment which focused on systematic cost management, divestment of non-core strategic business areas as well as comprehensive restructuring in the electricity, chemicals, logistics and real estate management divisions. Core business services were placed center stage, with energy and telecommunications on the one hand, and innovative aluminum, chemicals and packaging business on the other.
When VEBA and VIAG then merged to become E.ON, the focus was firmly fixed on energy and, at that time, chemicals.
E.ON Facts and Figures
E.ON is a major investor-owned energy supplier. At facilities across Europe, Russia, and North America, our more than 62,000 employees generated just more than EUR122 billion in sales in 2013. We have an ambitious objective: to make energy cleaner and better wherever we operate.
|EUR in millions||2013||2012||+/- %|
|Electricity sales (billion kWh)||704.4||740.9||-5|
|Gas sales (billion kWh)||1,091.7||1,162.1||-6|
|EBITDA 1)[Fussnotenmarker für Fussnote Nr. 1]||9,315||10,771||-14|
|EBIT 1)[Fussnotenmarker für Fussnote Nr. 1]||5,681||7,012||-19|
|Underlying net income 1)[Fussnotenmarker für Fussnote Nr. 1]||2,243||4,170||-46|
|Employees (at year-end)||62,239||72,083||-14|
- 1) [footnotes.accessibility]Adjusted for extraordinary effects