Uniper SE recorded no losses in the first quarter related to replacing natural gas supplies that were cut off by Russia last year, and the company expects a “strong earnings recovery” after being bailed out by the German government in 2022. 


The steep decline in global gas prices since last year has eased the costs of replacement supplies. As a result, Uniper said it currently doesn’t need any additional equity from the German government. 

“However, we can’t allow this success to make us forget that there are still risks in connection with gas replacement procurement,” said CFO Jutta Dönges. “Uniper’s earnings in future quarters will continue to depend to a large extent on the level of costs for gas replacement procurement and thus on gas prices.”

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