RWE reported EBIT of EUR 4.1 billion (+4% yoy) and net income of EUR 2.2 billion (+5%). The company reitarated its medium-term target of growing net income by 10% to 2012. E.On’s adjusted EBIT was EUR 5.7 billion (-1%), while its adjusted net income grew by 7% to EUR 3.6 billion. The company also announced a restructuring plan aiming to deliver EUR 1.5 billion of cost cutting by 2011. E.On surprised the market with the early announcement of a buyer for its Thuega assets. The expected proceeds of EUR 2.9 billion were in line with market expectations and further strengthen E.On‘s balance sheet.