German utility E.ON (EONGY.PK) strikes an agreement with Russia's Gazprom over the commercial...

|About: E.ON SE ADR (EONGY)|By:, SA News Editor

German utility E.ON (EONGY.PK) strikes an agreement with Russia's Gazprom over the commercial terms of long-term gas procurement contracts, and raises its 2012 earnings outlook as a result. E.ON now expects 2012 EBITDA of €10.4B-€11B vs. its previous outlook of €9.6B-€10.2B; after-tax profit is seen at €4.1B-€4.5B vs. previous €2.3B-€2.7B.