Uniper 9-month Adj. EBIT Rises; Increases Guidance

Uniper said its adjusted EBIT in the first nine months of 2021 rose more than 50 percent year-over-year due to a higher contribution of the international and gas mid-stream commodity business. The company said the "Global Commodities' extraordinarily good performance and its assumptions for the remainder of the financial year enable it to again raise forecast for adjusted EBIT and adjusted net income for fiscal 2021.

For the nine month period, adjusted EBIT was 614 million euros compared to 405 million euros, prior year. Adjusted net income was 487 million euros compared to 308 million euros.

Uniper reported a IFRS net loss of 4.77 billion euros or 13.20 euros per share in the first nine months. The company said the main reason is a IFRS-related inconsistency in the fair value measurement of hedging transactions and hedged items. Sales were 78.50 billion euros compared to 30.82 billion euros, previous year.

The company increased its outlook range for adjusted EBIT for fiscal 2021 to 1.05 billion euros to 1.30 billion euros from formerly 800 million euros to 1.05 billion euros. It also increased the range for adjusted net income to 850 million euros to
1.05 billion euros, from prior guidance of 650 million euros to 850 million euros.

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