The energy company Uniper, which is about to be nationalized, suffered a loss of billions in the first nine months of 2022. Provisional adjusted earnings before interest and taxes (EBIT) amounted to approximately minus 4.8 billion euros, after a profit of 614 million euros in the same period last year.
The adjusted net loss is likely to be EUR 3.2 billion after a profit of EUR 487 million in the previous year.
In addition, Uniper’s IFRS equity will be charged with a non-operational valuation effect in the tens of billions as of September 30 to anticipate losses from gas supply constraints, which are likely to continue to increase in the coming quarters.
Video: Energy giant Uniper is nationalized
The development of the profit also has a direct effect on Uniper’s equity on the balance sheet. As a result, more than half of the company’s share capital has now been lost. Uniper’s board of directors will convene an extraordinary general meeting shortly. These will take place in the second half of December to explain the situation to shareholders. Detailed third quarter results are scheduled for November 3.
Uniper ran into trouble due to exploding gas prices. The federal government wants to take over the supplier completely. This could happen as early as this year.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
