Uniper adjusted EBITDA falls 78% on lower generation, trading activity

Published 07/08/2025, 09:44
© Reuters.

Investing.com -- Uniper’s adjusted EBITDA fell 78.2% to €379 million in the first half of 2025, down from €1.74 billion a year earlier, due to weaker generation output, lower trading earnings and the absence of prior gains from gas replacement contracts, the company reported on Thursday.

Net income dropped to €267 million from €903 million. Adjusted net income declined to €135 million, down from €1.14 billion in the same period last year. 

Sales rose 4.2% to €33.06 billion, supported by higher commodity prices despite reduced trading volumes and electricity output. 

Operating cash flow turned negative at –€374 million, compared with €2.95 billion in the first half of 2024.

Electricity sales fell 13.2% to 65.1 billion kWh, while gas sales dropped to 533.3 billion kWh from 685.6 billion kWh. 

Own electricity generation decreased to 21.7 billion kWh, down from 25.6 billion kWh, mainly due to the closure of coal plants, reduced operating times, and outages at facilities such as Datteln 4 and Oskarshamn 3.

By segment, adjusted EBITDA in Flexible Generation fell 59.7% to €333 million, affected by plant decommissionings and lower fossil output. 

Green Generation posted €420 million, down 20.3%, due to outages and low price zones in Sweden. 

Greener Commodities recorded a loss of €296 million versus €682 million profit a year ago, reflecting reduced trading gains and no further benefit from Russian gas replacement.

Revenue from electricity rose 12.4% to €6.61 billion. Gas sales revenue grew 1.9% to €25.6 billion. Other revenues increased 19.2% to €850 million.

Materials costs rose to €31.43 billion from €28.83 billion. Personnel expenses increased to €518 million. 

Depreciation and impairment charges fell slightly to €314 million. Other operating income dropped to €6.54 billion from €19.85 billion, while operating expenses declined to €7.12 billion from €21.03 billion, reflecting reduced derivatives volume and volatility.

Uniper’s economic net cash position was €3.26 billion in debt as of June 30, a slight improvement from €3.40 billion in debt at year-end. 

The company repaid €2.6 billion to the Federal Republic of Germany in March to settle obligations under the EU’s 2022 state-aid approval.

Divestments during the period included the North American power business, Gönyű gas plant in Hungary, and LIQVIS GmbH. 

New renewables projects are underway in Germany, the United Kingdom (TADAWUL:4280) and Hungary, including Uniper’s first UK wind farm and solar farms with a combined 212 MW capacity.

The company secured LNG supply deals with Woodside (OTC:WOPEY) and a European supply agreement with Octopus Energy. 

It also began construction on an ammonia cracker plant in partnership with thyssenkrupp Uhde. Uniper reaffirmed its full-year outlook for adjusted EBITDA and adjusted net income.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.