Innogy EBIT amounted to €1,615 millionChristian Fernsby ▼ | March 23, 2020
Innogy closed fiscal 2019 below the previous year, as anticipated, and achieved the outlook amended in November 2019.
Innogy Adjusted net income amounted to €427 million
Adjusted net income amounted to €427 million, a reduction of around 39 percent.
The main reasons for the decline in results were regulatory interventions in the British retail business in relation to introducing the price cap for standard tariffs and intense competitive pressure.
Furthermore, higher grid fees and wholesale prices for electricity and gas in the German retail business were not fully passed on to the customers.
In the Grid and Infrastructure division, earnings were reduced due to the sale of the Czech gas grid business at the end of February 2019. ■