BAKU, Azerbaijan, March 13
By Leman Zeynalova - Trend:
Germany’s Uniper company posted adjusted earnings before interest and taxes (EBIT) of €863 million in the 2019 financial year, which was at the prior-year level (2018: €865 million), Trend reports citing the company.
“Adjusted EBIT benefited from the fact that higher power prices and output enabled the company’s hydro and nuclear power stations to earn more. Another positive contribution came from the business in Russia and from the reinstatement of the U.K. capacity market,” said the company.
By contrast, earnings were adversely affected primarily by the non-recurrence of positive effects recorded in the prior year and by lower output at a small number of power plants, Uniper said in its report.
Uniper recorded IFRS (International Financial Reporting Standards) net income of €644 million in the 2019 financial year (2018: -€442 million).
“The year-on-year increase is principally attributable to positive effects resulting from the marking to market of commodity derivatives at the balance-sheet date. Uniper uses derivatives to shield its power and gas business from price fluctuations,” reads the report.
Adjusted funds from operations totaled €923 million, said Uniper.
At the Annual General Meeting on May 20, 2020, the Uniper Management Board and Supervisory Board will propose that the company pay out a dividend totaling €421 million (€1.15 per share). That will be a 28-percent increase relative to the prior year.
Uniper is a leading international energy company with operations in more than 40 countries and around 11,500 employees. Uniper’s business is to provide a reliable supply of energy and related services. Its main operations include power generation in Europe and Russia and global energy trading. Its headquarters are in Düsseldorf, Germany.
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