The headquarters of German utility giant E.ON is seen in Essen, Germany in this December 17, 2011 file photo. REUTERS/Ina Fassbender/Files
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German power giant E.ON Wednesday said it booked a 7.0-billion-euro ($7.7-billion) net loss in 2015 and warned that "the course ahead will be tougher and longer than anticipated".Operating profit, as measured by earnings before interest, tax, depreciation and amortization (EBITDA), declined by 10 percent to 7.6 billion euros, last year.Management would propose a dividend payout of 0.50 euros per share for 2015 .As a result, Germany's two biggest players, E.ON and close rival RWE have had to make huge writedowns on their conventional coal-fired power plants.In E.ON's case, the conventional business is being spun off into a unit called Uniper.
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