Uniper Expects Pretax Gains Of More Than EUR2 Billion From Replacement Gas Hedge
23 Mai 2023 - 05:22PM
Dow Jones News
By Giulia Petroni
Germany's Uniper said on Tuesday that it expects to book pretax
gains of more than 2 billion euros ($2.16 billion) from the
procurement of replacement gas volumes following Russia's
curtailments.
The gas trader said it doesn't expect additional costs from the
procurement of replacement gas volumes for the 2023-24 period and
that further equity increases by the government won't be
necessary.
"Uniper has effectively hedged its gas supply obligations in
this regard for this period through, among other instruments,
futures contracts," it said.
The use of the aformentioned profits, which are based on
preliminary figures, is set to be coordinated with the German
government in line with EU state-aid requirements.
Uniper confirmed its outlook for the full year, saying it
continues to foresee a strong earnings recovery compared to the
previous year, with positive adjusted net income and adjusted
earnings before interest and taxes.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
May 23, 2023 11:07 ET (15:07 GMT)
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