Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio.
Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes :
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E.ON is an investor-owned energy company. The Generation global unit consists of all Co.'s existing (fossil and nuclear) generation assets in Europe. The Renewables unit is engaged in managing Co.'s carbonsourcing and renewables businesses. The Global Commodities unit buys and sells electricity, natural gas, liquefied natural gas, oil, coal, freight, biomass, and carbon allowances. The Exploration & Production unit is a active in the focus regions of the North Sea (U.K., Norway), Russia and North Africa. The New Build & Technology unit include Co.'s project-management and engineering operations to support the construction of new power plants and the operation of existing plants.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
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As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
We reiterate our EUR 8.60 fair value estimate along with our no-moat, negative trend ratings after E.On released 2018 results above our estimates and set 2019 guidance in line with our outlook but slightly below consensus' expectations. The shares look overvalued. Recurring EBIT decreased 3% to EUR 3 billion, in line with guidance, though above consensus' EUR 2.9 billion and our EUR 2.85 billion forecast. Recurring EBIT decreased 33% in the fourth quarter after 11% growth at the end of September. The main negative driver was the networks division, whose EBIT decreased 9% to EUR 1.84 billion f...
We reiterate our EUR 8.60 fair value estimate along with our no-moat, negative trend ratings after E.On released 2018 results above our estimates and set 2019 guidance in line with our outlook but slightly below consensus' expectations. The shares look overvalued. Recurring EBIT decreased 3% to EUR 3 billion, in line with guidance, though above consensus' EUR 2.9 billion and our EUR 2.85 billion forecast. Recurring EBIT decreased 33% in the fourth quarter after 11% growth at the end of September...
General: Supervisory Board member Prof. Dr. Theo Siegert is a member of the Adivsory Committee of DSW, the local partner of ECGS. This report has been prepared using standard ECGS guidelines. Item 1: Unlike at German stock corporations, shareholders of a KGaA are legally required to vote on the annual accounts. Item 5: In financial year 2018, the Supervisory Board of Henkel Management AG, in line with recommendations of the Shareholders' Committee's Human Resources Subcommittee, decided to adopt various changes to the Management Board members' remuneration system, applicable as of financial ...
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