German utility giant E.On has reported adjusted pre-tax earnings (Ebit) of ?7.7 billion ($11.5 billion) in the first nine months of 2009, 1% less than its high year-ago figure. Net income to shareholders doubled to ?6.1 billion, but stripped of exceptional items grew just 1% to ?4.5 billion. Net income to shareholders in the third quarter was ?1.8 billion, bolstered by divestments, compared to a mere ?100 million in the 2008 third quarter. Restructuring continues, with E.On earlier this week announcing the sale of its highvoltage German grid to Dutch TenneT (IOD Nov.11,p8).
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