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E.ON SE's adjusted net income surges 58% YOY in FY'17

Energy utility company E.ON SE saw its adjusted net income surge 58% to €1.43 billion in fiscal year 2017 from 904 million in the prior period.

The company attributed the increase to lower interest accretion of nuclear provisions and a decrease in its tax rate to 26% in 2017 against 29% in 2016.

Net income attributable to shareholders of the company jumped 146% to 3.93 billion for fiscal year 2017 from a loss of 8.45 billion a year earlier.

Sales were down 1% to 37.97 billion from 38.17 billion previously.