Uniper Shares Rise After Hedging Activities Boost Performance
25 Octubre 2023 - 3:26AM
Noticias Dow Jones
By Giulia Petroni
Shares in Uniper rose on Wednesday after the bailed-out utility
said hedging transactions boosted performance in the first nine
months of the year and refined its outlook.
At 0734 GMT, the stock traded 6.2% higher at EUR4.33 after
soaring 11% at opening.
Based on preliminary results, the energy company expects to post
an adjusted net income of 3.74 billion euros ($3.96 billion) for
the period ended Sept. 30, while adjusted earnings before interest
and taxes are seen at EUR5.48 billion.
For the full year, Uniper now sees adjusted net income between
EUR4 billion and EUR5 billion, and adjusted EBIT in a range of EUR6
billion to EUR7 billion.
The utility said performance is benefiting from hedging
transactions tied to coal and gas power generation and its gas
midstream businesses.
Uniper was bailed out by the German government last year after
booking record losses due to Russian gas curtailments and
sky-rocketing prices on the spot market. It has since then taken
steps that pave the way to exit government ownership, including a
capital reduction to eliminate accumulated loss from 2022.
The state currently owns a 99.12% stake in the company.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 25, 2023 04:11 ET (08:11 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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