EON SE’s profit fell 30% after the firm wrote-off EUR8.3billion ($8.9billion) in generation assets.
The firm, which is Germany’s largest utility company, recoded a turnover of EUR962million for the first nine months of the year – down from last year’s EUR1.37billion.
EON’s unadjusted net loss was EUR6.1billion, the most for the period since the company was created in 2000.
Chief financial officer Michael Sen said: “Our operating environment remains very difficult.
“The impairment charges were triggered by the significant decline in commodity and energy prices, which is mainly a result of structural changes on global energy markets and on the regulatory framework.”
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