E.ON’s spin-off Uniper satisfies shareholders

The prospect of an improving performance has given the shares of E.ON’s conventional energy spin-off Uniper a boost, the Reuters news agency reports. Uniper expects an adjusted ‘earnings before interest, taxes, depreciation and amortization’ of 1.9 billion to 2.2 billion euros this year, the company said in a press release on its report on the first nine months 2016. Uniper continued a “solid operating performance”, especially in the gas business, but reports a nine-month net loss of 4.2 billion euros. This was “attributable to non-cash effective valuation effects”. This figure was largely already disclosed in the results for the first half of 2016 and “more than offset” adverse effects caused by “significantly lower achieved power prices” in Europe, writes Uniper in the release.
Uniper’s parent company E.ON recently announced a loss of 9.3 billion euros, caused by the spin-off’s unexpectedly low market capitalisation.

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

For background on the creation of Uniper, see the CLEW factsheet E.ON shareholders ratify energy giant's split.