The energy company Eon is completely writing off its stake in the leaking Baltic Sea gas pipeline Nord Stream 1 and increasing its investment program. By 2027, the energy group wants to increase its investment plans by around 6 billion euros to 33 billion euros, Eon announced on Wednesday. "However, we also expect regulation and politics to create the necessary framework conditions for this."

In the past fiscal year, Eon was able to increase its adjusted Ebidta by 2 percent to 8.1 billion euros thanks to growth in the network and customer solutions business.

For 2023, Eon expects adjusted EBITDA of EUR 7.8 to 8.0 billion. Shareholders are to receive a dividend of 2022 cents per share for 51, compared to 49 cents for the previous year. Eon is feeling a strong tailwind for its businesses, explained CEO Leonhard Birnbaum. "We also see great growth potential for this in the coming years."

Under the participation in the Baltic Sea gas pipeline Nord Stream 1, which was severely damaged by explosions, Eon first drew a line. The 15.5 percent stake deposited in a pension fund was last on the books at 100 million euros. Eon had originally estimated its stake at 1.2 billion euros.