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Innogy reports Q3 loss of €573M

Innogy SE on Nov. 13 posted a third-quarter 2018 loss of €573 million, or a loss of €1.12 per share, compared to a loss of €377 million, or a loss of 77 euro cents per share, the same quarter of 2017.

The Essen, Germany-based energy company recorded revenue of €6.23 billion in the most recent quarter, a drop from €7.56 billion a year earlier. Income from continuing operations totaled €78 million, or 5 euro cents per share, compared with €174 million, or 22 euro cents per share, a year ago.

For the first nine months of 2018, the company reported adjusted EBIT of €1.87 billion and adjusted net income of €721 million, compared to adjusted EBIT of €2.10 billion and adjusted net income of €978 million for the first nine months of 2017.

Innogy continues to target 2018 adjusted net income of over €1.10 billion and adjusted EBIT of about €2.7 billion.