Uniper announced a loss of 19.1 billion euros

Uniper announced its financial results for 2022.

Accordingly, the company made a loss of 19.1 billion euros last year. The aforementioned high loss occurred due to the fact that the company bought gas at much higher prices in the spot market, as it has not purchased natural gas from Russia since September 2022.

In recent months, the price of natural gas in Europe has fallen due to the mild weather conditions, with gas tanks being refilled in many countries, which has benefited Uniper.

The company, which announced a profit of 1.2 billion euros in 2021 before the energy crisis in Europe, was expected to report a loss of 40 billion euros last year.

The adjusted earnings before interest and taxes (EBITDA) of the company for fiscal year 2022 were announced as minus 10.9 billion euros.

Troubles will be overcome by 2024

Uniper also announced that it will overcome the problems caused by natural gas cuts from Russia by 2024 at the latest.

Uniper, which supplies gas to municipalities and large industrial companies in Germany, was among the companies most affected by the Russia-Ukraine war.

In order to secure supply and prevent the company’s bankruptcy during the global energy crisis, the German government nationalized 99.1% of Uniper, in which Finnish public company Fortum has a majority stake, for approximately 35 billion euros.