After nearly going bankrupt during the 2022 energy crisis and posting a record profit last year, the German energy company Uniper has returned to normality, the company's chief executive said on Wednesday.
"2024 will now be the year of new beginnings," Michael Lewis said in Dusseldorf. "Uniper is not only back, it is more resilient, financially stronger and more focused than before."
The company, which was taken over by the German government in the wake of the energy crisis, confirmed the key figures for 2023 published a fortnight ago. These showed that good business from electricity generation and gas trading resulted in an adjusted net profit of over €4.4 billion ($4.76 billion), compared to 2022's negative €7.4 billion.
Uniper reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of €7.2 billion.
Due to falling raw material prices, the firm anticipates a significantly lower profit for 2024. Adjusted EBITDA is expected to be in the range of €1.5 billion to €2 billion. Adjusted net profit is expected to be between €0.7 billion and €1.1 billion.
"The earnings situation of 2023 will normalize significantly this year," said Lewis.
The chief executive reaffirmed the new strategy presented last year, which includes a reorganization of electricity generation towards renewables. The current share of green production of 20% is to be increased to 80% by 2030.
"We want to have phased out coal by 2029," said Lewis. The natural gas supply portfolio of currently more than 200 terawatt hours is to be gradually converted into a green portfolio.
"Our long-term goal is to be completely climate-neutral by 2040," emphasized Lewis.
