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UNIPER SAYS ‘EXTRAORDINARY’ 2023 PROFITS UNLIKELY TO REPEAT SOON

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By Petra Sorge
October 31, 2023 at 7:30 AM GMT+1
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Germany’s Uniper SE said it does not expect to see a repeat of this year’s
‘extraordinary’ profits any time soon, highlighting the utility’s stark
turnaround from 2022’s record losses.

“This result and the outlook are literally extraordinary, and I don’t expect
that we’ll see earnings figures of this magnitude in the next few years,
although we’re looking ahead with optimism,” Chief Financial Officer Jutta
Dönges said in a statement.

Last week, Uniper said it expects adjusted earnings before interest and taxes of
up to €7 billion this year, guidance which analysts said signaled scope for an
accelerated return to capital markets.



The German utility was bailed out by the government at the height of last year’s
energy crisis, after Russia stopped supplying gas through the Nord Stream
pipeline and prices soared. The rescue package was one of the largest in German
corporate history.

The company is now mapping out its next steps for the government to eventually
be able to exit its majority stake. Uniper has recently repaid a €2 billion
credit line from Germany’s KfW Development Bank, but has yet to return some of
the equity it used.

Read More:

Germany’s Uniper Updates Profit as Hedging Pays Off

Uniper Plans Capital Cut to Pave Way for Government ExitBloomberg Terminal


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