Home Business Uniper: record loss of over 12 billion in the first half of the year

Uniper: record loss of over 12 billion in the first half of the year

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Uniper SE, a German energy company that was bailed out by the government last month, reported a net loss of € 12.3 billion in the first half of 2022, mainly due to the drop in Russian gas supplies that forced the company. to buy at higher prices from other buyers. It is one of the largest balance sheet liabilities in the history of German companies.

“Uniper has played a crucial role in stabilizing Germany’s gas supply for months, at the cost of billions in losses resulting from the sharp drop in gas deliveries from Russia,” said Uniper CEO Klaus-Dieter Maubach. .

Uniper is Germany’s largest gas importer. Last month, the German state intervened by taking over 30% of the stake held by the largest shareholder, the Finnish state-owned energy company Fortum, through the subscription of approximately 157 million new registered ordinary shares at a nominal value of € 1.70 per share. against a cash consideration of approximately 267 million euros. The bailout plan also provides for a loan of up to € 7.7 billion in convertible bonds and an extension of the group’s credit line with the public bank KfW to € 9 billion.

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