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Energy company Uniper reduces losses


Because the gas price has fallen significantly, the loss of the energy company Uniper is only half as high as previously feared. However, the minus of 19 billion euros is still impressive.

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Uniper headquarters in Düsseldorf

Photo: Christoph Hardt / Panama Pictures / IMAGO

The minus of the energy group Uniper is apparently lower than previously feared: The sum of the losses incurred for the 2022 financial year plus the expected future losses as of December 31, 2022 totaled 19.1 billion euros, as the nationalized group announced on Wednesday.

The fact that the losses are lower than initially feared is due to the fall in gas prices.

According to preliminary figures, losses from gas replacement procurement costs for the 2022 financial year amounted to 13.2 billion euros.

In addition, there are expected future losses due to ongoing gas replacement procurement costs of around 5.9 billion euros, making a total of around 19.1 billion euros.

At the beginning of November, the recently nationalized group put this value at around 40 billion euros in view of higher gas prices.

The costs arose after Russia initially delivered less and then no more pipeline gas to Germany last year.

Since then, Uniper has been buying natural gas on other markets at significantly higher prices so that it can continue to supply industrial companies and more than 500 municipal utilities with gas.

Uniper stressed that actual losses and expected losses from gas replacement procurement costs would continue to fluctuate significantly in the future with changing gas prices.


Source: spiegel

All business articles on 2023-02-01

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