At the largest German gas importer Uniper, losses are increasing due to the rise in gas prices. A clearly negative result is expected for the third quarter, as Uniper surprisingly announced in Düsseldorf. The group has had to buy more expensive gas on the market for months because of the Russian gas supply restrictions in order to be able to continue to meet its delivery obligations.
The losses also affect Uniper’s balance sheet equity. The company therefore announced the loss of more than half of the share capital. In terms of stock corporation law, this entails the obligation to convene an extraordinary general meeting (AGM). This should take place in the second half of December. Then the management wants to report the loss to the investors and explain the situation of the company to the shareholders.
For the first nine months, Uniper expects an adjusted operating loss before interest and taxes (EBIT) of 4.8 billion euros. In the previous year, the energy company, which was about to be nationalized, had made a profit of 614 million euros. According to preliminary figures, the adjusted net result amounts to minus 3.2 billion euros, after plus 487 million euros in the previous year. In addition, there is a non-operational valuation effect in the tens of billions. Uniper is thus anticipating losses from gas supply restrictions, which will probably occur in the coming months.
