“Uniper first-quarter operating profit beats estimates on cost cuts”

German utility Uniper’s operating earnings in the first quarter 2017 fell by 41 percent compared to the same period 2016, due primarily to last year’s lucrative deal with Russian Gazprom, the company announced in a press release.
This was less than what had been anticipated by analysts, as cost cuts at its power plant division helped the group offset weaknesses at its hydroelectric plants, writes Christoph Steitz in an article for Reuters. E.ON’s fossil spin-off Uniper generated adjusted earnings before interest and taxes of 514 million euros in the first quarter of 2017.

Read the Reuters article in English here and find Uniper’s press release in English here.

Find background in the CLEW factsheet E.ON shareholders ratify energy giant’s split.