Uniper ends quarter with €6.7bn profit after 2022 losses – Kommersant
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The net profit of the German energy company Uniper in the first quarter amounted to €6.7 billion against a net loss of €3.1 billion a year earlier. Company introduced quarterly reporting today, May 4th.
The company suffered losses throughout the past year, which was due to the fact that Gazprom, due to the situation in Ukraine, sharply reduced and then completely stopped deliveries of Uniper gas to it. Because of this, the German company had to buy gas from other sources at higher prices.
Since the summer, the German authorities have provided multibillion-dollar aid packages to Uniper several times, and in September there were The decision was made on the transfer of a controlling stake in the company to the government. In November Uniper filed a lawsuit to Gazprom in the International Court of Arbitration in Stockholm, demanding that the Russian company compensate it for losses due to underdelivered gas totaling €11.6 billion.
Previously Uniper reported on the exclusion from the financial statements of the Russian subsidiary Unipro due to the loss of control over it and the write-off of related amounts. In the current reporting, these assets are no longer taken into account.
Uniper’s position was also helped by lower gas prices after a sharp rise last year and the establishment of stable supplies from new sources that have replaced supplies from Russia. At the same time, as the financial director of the company Jutta Donges noted, “the risks associated with the supply of gas to replace (Russian.— “b”) are still preserved.
Uniper shares after the publication of financial statements rose by 6.5%.
About how the generating companies Fortum and Unipro, owned by the Finnish Fortum and the German Uniper, came under the control of the Russian state, Kommersant wrote in the material “Change Me”.
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