E.ON SE (EONGY) CEO Johannes Teyssen on Q2 2020 Results - Earnings Call Transcript

Aug. 13, 2020 1:34 AM ETE.ON SE (EONGY), ENAKF
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E.ON SE (OTCPK:EONGY) Q2 2020 Earnings Conference Call August 12, 2020 5:30 AM ET

Company Participants

Verena Nicolaus-Kronenberg – Head of Investor Relations

Johannes Teyssen – Chairman of Management Board and Chief Executive Officer

Marc Spieker – Chief Financial Officer

Conference Call Participants

Deepa Venkateswaran – Bernstein

Wanda Serwinowska – Crédit Suisse

Peter Bisztyga – Bank of America Securities

Sam Arie – UBS

Alberto Gandolfi – Goldman Sachs

Ahmed Farman – Jefferies

Vincent Ayral – JPMorgan

Rob Pulleyn – Morgan Stanley

James Brand – Deutsche Bank


Dear ladies and gentlemen, welcome to the E.ON’s Half Year 2020 Results Conference Call. At our customers' request, this conference will be recorded. [Operator Instructions] May I now hand you over to Dr. Johannes Teyssen, who will lead you through this conference. Please go ahead.

Verena Nicolaus-Kronenberg

Yes. I just wanted to do a brief introduction here. This is Verena. Hello, everybody. A warm welcome from my side before we – I hand over to Johannes. Many thanks for joining our H1 results call today. I’m here with actually Johannes and Marc, who will guide you through our business development and outlook. And with that, over to you, Johannes.

Johannes Teyssen

Thank you, Verena. Good morning, and a very warm welcome from my side. We are happy, and I repeat that we are happy to provide detailed and positive view about yet another successful quarter and outlook of E.ON. My extremely positive stance comes from very concrete and specific reasons.

First, in Q1, we had informed you that we have adjusted our procurement book for our commodity sales business in order to reflect the risk from lower volumes in the retail business due to COVID-19. Now after the second quarter, we have gained enough evidence that this adjustment that we already took will take us well through

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