Uniper no longer needs state assistance – Kommersant

Interim CEO of German energy company Uniper Jutta Denges statedthat the company will not need additional financial assistance from the German authorities this year. Last year, Uniper experienced serious problems due to the reduction and then the cessation of gas supplies from Russia. Because of this, the German company had to buy gas from other sources at higher prices.

“I can confirm that there is no need for additional capital injections from the federal authorities,” Ms. Denges said at a meeting of Uniper shareholders on Wednesday, May 24th.

German authorities have provided multibillion-dollar aid packages to Uniper on several occasions, and in September there were The decision was made on the transfer of a controlling stake in the company to the government. In total, the German government has invested more than €13bn in the company. Another €20bn has been allocated to compensate Uniper for further losses, however, according to the company’s management, it will not need this money.

Uniper first quarter finished with a profit of €6.7 billion. “After a loss in 2022, Uniper started 2023 with a strong first quarter, and we expect a significant recovery in profits in 2023 compared to last year,” said Ms. Denges. According to her, no further losses associated with the replacement of gas from Russia are expected. Ms. Denges assessed the company’s condition as “healthy and very stable.” She also noted that the goal of the company’s management is “to transfer the main share in it to private hands as soon as possible.” According to Ms. Denges, this summer Uniper will present a strategy for the company’s further development.

Yana Rozhdestvenskaya