E.ON Posts Lower Profit

E.ON SE EONGY reported a drop in its nine-month profit. E.ON's net profit for the period fell 3% to EUR2.61 billion versus EUR3.01 billion, while underlying after-tax profit dipped to EUR1.91 billion from EUR4.02 billion. Its earnings before interest, taxes, depreciation and amortization tumbled to EUR7.12 billion from EUR8.81 billion. However, analysts were expecting an EBITDA of EUR7.22 billion. E.ON now projects 2013 earnings before interest, taxes, depreciation and amortization of 9.2 billion euros to 9.3 billion euros ($12.3 billion to $12.4 billion). E.ON shares closed at $18.18 yesterday.