Germany · Delayed Price · Currency is EUR Uniper SE Earnings Call Transcripts
Fiscal Year 2026
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The AGM highlighted normalized financial performance, a return to dividend payments, and major strategic investments for energy transition and security of supply. Board changes and compliance with new regulations were addressed, with all agenda items recommended for approval.
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Q1 2026 saw strong earnings and cash flow, driven by resilient operations and effective hedging, with full-year guidance reaffirmed despite ongoing market volatility and geopolitical risks. Major investments in hydrogen-ready flexible generation are planned, supported by robust liquidity.
Fiscal Year 2025
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2025 earnings normalized after prior exceptional years, with solid Adjusted EBITDA and net income. Portfolio risk and CO₂ emissions were reduced, liquidity remains strong, and a dividend is proposed for 2026. Guidance for 2026 anticipates stable earnings and further decarbonization.
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Met 2025 financial targets with €1.1bn EBITDA and €544m net income, resumed dividends, and maintained a strong €2.8bn net cash position. 2026 guidance is €1–1.3bn EBITDA, with growth in renewables and flexible generation, and limited risk from current market volatility.
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Solid nine-month results with EUR 641 million adjusted EBITDA and EUR 268 million net income, confirming full-year guidance. Strategic transformation advanced with leadership changes, asset divestments, and increased investment in green and flexible generation.
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Solid H1 2025 results with adjusted EBITDA of EUR 379 million and net income of EUR 135 million, driven by strong Q2 performance and contributions from both flexible and green generation. Strategic focus remains on transformation, cost management, and AI adoption, with EUR 1 billion CapEx planned for 2025.
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Q1 2025 saw a slow start with negative adjusted EBITDA and net income, mainly due to normalization after prior exceptional years and high-priced gas withdrawals. Full-year guidance is reaffirmed, with recovery expected in gas midstream and continued strategic investments in LNG and flexible generation.
Fiscal Year 2024
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2024 delivered strong financial results with EUR 2.6 billion Adjusted EBITDA and EUR 1.6 billion Adjusted Net Income, driven by all segments and major strategic progress. 2025 guidance anticipates normalized earnings amid volatile markets and lower commodity price tailwinds.
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Strong nine-month results with adjusted EBITDA of EUR 2.2 billion and net cash of EUR 5.6 billion, driven by robust green and flexible generation. Asset disposals and decarbonization are progressing, with full-year guidance confirmed and a focus on organic growth amid normalizing market conditions.
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Strong H1 2024 results with adjusted EBITDA of EUR 1.7 billion and net income of EUR 1.1 billion, driven by operational performance and successful de-risking. Full-year guidance was raised, with continued focus on green and flexible generation investments.