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Uniper 2017 Loss Narrows

Uniper reported that its net loss attributable to shareholders for fiscal year 2017 narrowed to 656 million euros from 3.217 billion euros last year. It was entirely attributable to non-cash-effective one-off items, primarily in conjunction with the disposal of its stake in gas field Yuzhno-Russkoye in Siberia.

At the closing of the transaction, currency-translation losses of 890 million euros, which had already been recorded in group equity, had to be recorded in the income statement, which had a corresponding adverse, but value-neutral impact on net income.

Adjusted funds from operations of 753 million euros were up significantly, rising by 274 million euros year on year.

Sales for the year grew to 72.24 billion euros from 67.29 billion euros last year.

As communicated in early December 2017, Uniper expects its 2018 Adjusted EBIT to be between 0.8 billion euros and 1.1 billion euros. In line with its revised strategy, Uniper had also announced a target for medium-term dividend growth. Based on a dividend payout of 200 million euros for the 2016 financial year, the company plans to increase the dividend by an average of 25 percent per year through the 2020 financial year. Uniper intends to pay out about 310 million euros to its shareholders for the 2018 financial year.

by RTTNews Staff Writer

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