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Uniper: lower annual loss than expected thanks to lower gas prices


German gas giant Uniper, recently rescued from bankruptcy by the government, was able to halve its 2022 loss, compared to its...

German gas giant Uniper, recently rescued from bankruptcy by the government, was able to halve its 2022 loss, compared to its forecast, thanks to the fall in gas prices in recent months which limited the impact of power cuts. Russian gas.

The group still shows a gigantic loss of “

19.1 billion euros as of December 31,

” he said in a statement on Wednesday.

It is the second heaviest in history for a German company, after a loss of 25 billion euros for Deutsche Telekom in 2002, according to the German press.

Last November, Uniper, nationalized in December by Berlin, estimated its losses at 40.37 billion euros since the beginning of 2022. However, these figures were based on “

significantly higher (gas) prices on the markets outside era

," the company says.

Concretely, the 40 billion consisted of 10 billion losses already realized, to which were added "

about 31 billion anticipated losses and provisions

", registered beforehand in the group's accounts.

With the fall in gas prices on the short-term markets, where Uniper is supplied, these anticipated losses have melted to “

5.9 billion euros


Result: "

the figures have improved significantly compared to expectations

", notes the group.

Uniper, the leading importer and storer of gas in Germany, was hit hard by the reduction, then the total end in September, of Russian gas deliveries, against a backdrop of war in Ukraine.

The company was the main customer of the Russian group Gazprom in the country.

To honor its contracts, it had to obtain gas on the spot market where prices exploded during the summer.

Threatened with bankruptcy, Uniper appealed to the German government led by the social democrat Olaf Scholz, which decided to initiate a nationalization, by injecting tens of billions of euros to save the group.

Since September, prices on short-term markets have fallen, thanks to a mild winter in Europe, and Berlin's efforts to increase its supply of liquefied gas.


Uniper's results over the next few quarters will continue to be influenced by (...) the evolution of gas prices

", however warned the group, in its press release.


- Energy: agreement of the 27 to cap the wholesale price of gas at 180 euros/MWh

Source: lefigaro

All business articles on 2023-02-01

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