Uniper shares experienced a decline on Wednesday, erasing earlier gains. The German gas importer reiterated its expectation for reduced earnings in 2024.
Share Performance
At 1137 GMT, shares were down by 6.5% at EUR55.54 after initially rising by 4.9% earlier in the day.
Earnings Forecast
Uniper restated its projection during the post-earnings conference call, anticipating earnings to normalize for the year due to lower commodity prices.
The company outlined an outlook of between 700 million euros ($759.2 million) and EUR1.1 billion in adjusted net income for this year. For 2024, it anticipated adjusted earnings before interest, taxes, depreciation, and amortization between EUR1.5 billion and EUR2 billion.
In 2023, Uniper reported EUR7.16 billion in adjusted Ebitda and EUR4.43 billion in adjusted net income.
Analyst Insights
UBS analysts noted that Uniper's guidance for the year fell below consensus expectations, with projected adjusted Ebitda of EUR2.2 billion and adjusted net income of EUR1.0 billion.
The analysts highlighted that updated hedges indicated a slight deterioration in prices for Germany and the Nordics in 2024 and 2025. However, newly revealed 2026 hedges appeared strong despite lower volumes.
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