FRANKFURT, May 15 Reuters E.ON on Wednesday posted firstquarter profits that were roughly stable yearonyear, adding that investments were up by around a quarter as Europe39;s biggest operator of energy grids is massively ramping up spending on grids.

Firstquarter adjusted core profit EBITDA was up 1 at 2.745 billion euros, while adjusted net profit was up 2 at 1.047 billion, the company said, confirming its outlook for the current financial year.

The group said it still expects adjusted EBITDA of 8.8 billion to 9 billion euros and adjusted net profit of 2.8 billion to 3.0 billion.

According to a poll provided by the company, analysts on average expected adjusted EBITDA of 8.9 billion euros and adjusted net profit of 2.9 billion.

Reporting by Christoph Steitz, Editing by Rachel More

Source Reuters