Uniper has started the process of repaying the German government approximately €530 million (£444m) as part of its obligations following a bailout during the energy crisis.
The bailout was implemented due to changes in the gas market after Russia’s invasion of Ukraine, which left many energy firms, including Uniper, in a difficult financial position.
In addition to the repayment, Uniper’s financial statements show a provision of nearly €2.5 billion (£2.1bn) for anticipated obligations to the German government related to financial assistance provided in 2022.
For the first nine months of 2024, Uniper reported adjusted EBITDA of €2,1 million (£1.7m) million, a decrease from €6,086 million (£5m) recorded during the same period in 2023.
This decline was expected, as last year’s figures included transactions related to gas replacement procurement amid the disruption of Russian gas supplies.
Nonetheless, the company’s performance aligns with its revised full-year expectations, which forecast adjusted EBITDA between €1.9 billion (£1.5bn) and €2.4 billion (£2bn).
The Green Generation segment, which includes Uniper’s nuclear business in Sweden, reported adjusted EBITDA of €738 million (£619m), an increase from €590 million (£494m) year-on-year, attributed to higher electricity output and market conditions.
The Flexible Generation segment reported a drop to €1,056 million (£885m) from €1,595 million (£1,338m) in the previous year due to reduced earnings from fossil fuel hedging and a decline in price levels.
Copyright © 2024 Energy Live News LtdELN