By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Investing > Uniper Shares Rebound Significantly on Recovery Expectations
Investing

Uniper Shares Rebound Significantly on Recovery Expectations

News Room
Last updated: 2023/05/30 at 9:07 PM
By News Room
Share
3 Min Read
SHARE
By Giulia Petroni

Shares in Uniper have bounced back strongly as the bailed-out gas supplier now expects a strong earnings recovery and no additional losses related to the replacement of Russian gas volumes.

At 1221 GMT, shares trade 13.2% higher at EUR5.25. The stock price has more than doubled from EUR2.23 a share at the end of December, after months of deep struggle that saw the utility at the brink of insolvency and that prompted a historic bailout from the German government.

The utility said last week there would be no additional losses related to the replacement of Russian gas volumes and that it expects pretax profits of more than 2 billion euros ($2.14 billion) from the procurement of replacement volumes thanks to hedging transactions.

“Uniper has solid ground under its feet again,” said Chief Financial Officer Jutta Doenges.

Supply obligations to municipal utilities and industrial customers for the 2023-24 period are currently almost fully hedged by forward contracts, according to the utility, and further equity increases by the government won’t be necessary.

At its annual general meeting, Uniper said it will present a strategy update during the summer and opened up to the possibility of a re-privatization of the company.

“The German Federal Government has pledged to the European Union to indicate by the end of this year how it intends to reduce its Uniper stake to 25% plus one share. We’ll be proposing our ideas for this in the months ahead,” Doenges said. “Our aim is to return Uniper to predominantly private hands as an independent company as quickly as possible.”

Uniper also confirmed its outlook for the full year, reiterating it expects positive adjusted net income and adjusted earnings before interest and taxes.

Meanwhile, following the government’s takeover, the company is undergoing leadership changes, with newly appointed Michael Lewis expected to take over as chief executive earlier than initially planned on June 1 and Carsten Poppinga as chief commercial officer on August 1.

Write to Giulia Petroni at giulia.petroni@wsj.com


Read the full article here

News Room May 30, 2023 May 30, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
China improves ability to launch sudden attack on Taiwan, officials say

China has increased its ability to launch a sudden attack on Taiwan…

Emmanuel Macron touts France as ‘reliable’ partner for south-east Asia

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

President Trump delivers remarks at ‘Investing in America’ event

Watch full video on YouTube

Cargo thieves are attacking the U.S. supply chain at alarming rates

Watch full video on YouTube

EU urges Trump to return to 90-day trade negotiation period

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

- Advertisement -
Ad imageAd image

You Might Also Like

Investing

Nursing Home Stocks Could Suffer from this Medicaid Spending Remedy

By News Room
Investing

Bitcoin Drops Below $90,000 Again. What Could Move It Next.

By News Room
Investing

These Stocks Are Moving the Most Today: Marvell, Nvidia, Broadcom, GM, Tesla, MongoDB, Burlington, and More

By News Room
Investing

Nvidia Stock Falls as Marvell Earnings Compound AI Gloom. The Rising Risks for Chips.

By News Room
Investing

This analyst says Tesla deliveries will be 16% below expectations. Musk is part of the problem.

By News Room
Investing

BP CEO was awarded no bonus pay from oil giant’s financial performance

By News Room
Investing

Shares of Starlink’s European competitor have tripled. CEO says it can do the job in Ukraine.

By News Room
Investing

GE Vernova Stock Rises as Analyst Flips to Upgrade After Rating Cut

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?