Nearly €3bn ($3.8bn) was erased from E.ON’s market capitalisation as shares fell more than 10% on 13 November on the update.
E.ON, by some accounts the world’s largest non-state energy utility, insists it will meet the updated 2012 forecast it issued in August. However, its guidance for next year no longer seems achievable “considering the substantial economic uncertainties and the structural changes in the energy industry” in Europe, according to chief executive Johannes Teyssen.
E.ON’s
