Uniper, the German utility company, has revised its guidance for the year following what it describes as “extraordinarily strong results” in the first half. The company’s performance was driven by hedging transactions in coal and gas-fired power generation, as well as the gas midstream business.
According to preliminary figures, Uniper now expects an adjusted net profit and adjusted earnings before interest and taxes (EBIT) in the mid-single digit billion-euro range for this year, which is a significant improvement compared to previous expectations.
Uniper had previously announced in May that it had successfully hedged its uncovered gas supply obligations resulting from Russian gas curtailment. The positive impact of this one-time effect has become evident in the financial results for the first six months of the year.
For the first half, Uniper is projecting an adjusted net profit of €2.49 billion ($2.75 billion), a remarkable turnaround from last year’s loss of €490 million. Additionally, the company expects adjusted EBIT to reach €3.70 billion compared to a loss of €757 million in 2022.
These impressive results reflect the success of Uniper’s hedging strategies and its ability to navigate challenges in the ever-evolving energy market.
