Earnings before interest, taxes, depreciation and amortisation (Ebitda) at the German utility fell less dramatically, to €5.36bn ($5.76bn) in the January-September period, down from €6.53bn in the same period in 2014.

But impairment charges of €8.6bn led to a net loss in the first three quarters of 2015 of €5.67bn, compared to a net profit of €255m in the year-earlier period.