German utility Uniper incurs net loss of 538 million euros, raises dividend proposal

German utility Uniper incurred a net loss of 538 million euros in 2017, down from a loss of 3.2 billion euros in the year before, the company said in a press release. The fossil spin-off of utility E.ON, which was partly sold to Finnish company Fortum, confirmed that it increases the dividend proposal for its shareholders to 271 million euros and aims to reach 310 million euros in 2018. It added that its earnings before income and taxes (EBIT) of 1.1 billion euros met the company’s expectations. ”Despite continued challenging market conditions and a difficult regulatory environment, Uniper posted solid numbers,” CEO Klaus Schäfer said. Uniper says its loss is “entirely attributable to non-cash-effective one-off items”, such as the disposal of its stake in a Russian gas field.

Find the press release in English here.

See the CLEW dossier Utilities and the energy transition for background.