Uniper delivers its best financial results since foundation and confirms investment ambition

German energy company Uniper has reported an exceptional financial year in which it delivered adjusted net income of €4.4 billion (US $4.79 billion).

The 2023 results, announced on Wednesday, show that at €6.4 billion, adjusted EBIT was around €17 billion higher than in the “crisis year” 2022.

The Uniper Annual Shareholders’ Meeting was told these “exceptionally good results” were achieved based on a strong operating performance in a favourable market environment.

Thriving in its sector

CEO Michael Lewis confirmed the past financial year as Uniper’s most successful since it was founded in January 2016. 

“Not only did we achieve an exceptionally good result, but we also set the course for the future with our new strategy in August 2023,” he said.

“2024 is the year of new beginnings for us…our focus is on project development and the growth of our strategic business areas. We want to invest around €8 billion in this by 2030.”

Capital market recognition 

Uniper’s positive development has been recognised in recent months, including at the beginning of March when the rating agency S&P confirmed the company’s long-term credit rating of 'BBB'- and ‘stable outlook’. 

At the same time, S&P raised Uniper’s stand-alone credit profile from “b” to “bb”, which is attributable to Uniper’s improved business and financial risk profile. 

Earlier refinancing and increase of a syndicated credit facility, with a volume of €3 billion, was successfully completed this March.

Results bring bright expectations

For the full year 2024, Düsseldorf-based Uniper expects adjusted EBITDA in a range of €1.5 billion to €2 billion and adjusted net income in a range of €0.7 billion to €1.1 billion.

The company, with activities in more than 40 countries and about 7,000 employees, continues to make an important contribution to supply security in Europe, particularly in its core markets of Germany, the UK, Sweden, and the Netherlands.

Uniper also confirmed it is playing a pioneering role “setting the pace” in establishing Europe’s hydrogen economy.

“We are developing and implementing hydrogen projects across Europe in the areas of production, transport, storage, and application,” the company stated. 

“It’s important to us to create value with these investments and to seize the opportunities of emerging markets like hydrogen.”