“Uniper posts loss ahead of stock market listing”

E.ON’s spin-off Uniper, slated for a stock market listing soon, has posted its first half-year financial results, reporting a 3.9 billion euro loss. The hit is a result of value adjustments and provisions for impending losses of 3.8 billion euros that E.ON had already posted in its own bi-annual report, Jürgen Flauger writes in Handelsblatt. However, Uniper’s operating results improved – EBITDA was 1.5 billion euros in the first half of 2016, 50 percent more than the  pre-spinoff fossil energy division achieved in the same period last year. The result was put down to favourable changes to the  long term natural gas contracts with Russia and other areas of global trading, while earnings in European and international power generation decreased.

Read the Uniper press release in English here.

Read the Handelsblatt article in German here.