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https://www.bloomberg.com/news/articles/2023-10-31/uniper-says-extraordinary-2023-profits-unlikely-to-repeat-soon
Submission: On October 31 via api from US — Scanned from DE
Submission: On October 31 via api from US — Scanned from DE
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Get in Touch Before it’s here, it’s on the Bloomberg Terminal Bloomberg Terminal LEARN MORE FacebookTwitterLinkedInEmailLink Gift By Petra Sorge October 31, 2023 at 7:30 AM GMT+1 BookmarkSave Listen 1:11 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 LinkCopy Link Follow all new stories by Petra Sorge Plus FollowingPlus Get AlertsPlus Get Alerts Twitter FacebookTwitterLinkedInEmailLink Gift BookmarkSave Have a confidential tip for our reporters? Get in Touch Before it’s here, it’s on the Bloomberg Terminal Bloomberg Terminal LEARN MORE MORE FROM BLOOMBERG Germany’s Uniper Updates Profit as Hedging Pays Off Siemens Energy Weighs Sale of Indian Stake to Siemens Germany to Fast-Track Hydrogen Grid in Cleaner Energy Transit ‘Made in Germany’ Won’t Go Out of Fashion, Bundesbank’s Nagel Says TOP READS Israel-Hamas War Escalation Puts Qatar’s Clout to the Test by Fiona MacDonald How This Israel-Hamas Conflict Is Like Nothing That’s Happened Before by Lisa Beyer Ravaged Florida Town Becomes a Magnet for Risk-Taking Homebuyers by Michael Smith and Prashant Gopal Bloomberg Green’s Electric Car Ratings | UK Edition by Kyle Stock, Christopher Cannon and Brittany Harris Terms of ServiceManage CookiesTrademarksPrivacy Policy©2023 Bloomberg L.P. All Rights Reserved. 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