As of today, Uniper expects earnings for the first three months of the fiscal year 2022 to come in significantly below market expectation and prior-year figures.

Preliminary adjusted earnings before interest and taxes (adjusted EBIT) for the first three months of 2022 amount to around EUR -830 million (prior year: EUR 731 million). Preliminary adjusted net income (ANI) for the first three months of 2022 amounts to EUR -615 million (previous year: EUR 594 million).

The decline in earnings is mainly attributable to the gas mid-stream business, in particular due to gas storage optimization: In view of the current market environment, Uniper has reduced its anticipated gas storage withdrawals in the first quarter to the benefit of future quarters. This results in a significant earnings shift from the first quarter into the remaining quarters of 2022. Aside from commercial reasons, this allows Uniper to hold higher gas volumes in reserve, thereby contributing to security of supply.

The preliminary unadjusted net income for the first three months amounts to approximately EUR -3 billion. In addition to the aforementioned operating development, the net income is expected to be further impacted by impairment charges of approximately EUR 2 billion, mainly related to the Nord Stream 2 loan and Uniper's Russian subsidiary Unipro.

Against the background of the described intra-year earnings shift and based on the assumptions for the further course of the fiscal year 2022, the Management Board confirms the communicated outlook for adjusted EBIT of EUR 1.0 to 1.3 billion and ANI of EUR 0.8 to 1.1 billion for the full fiscal year 2022.

All published figures and statements are preliminary and unaudited. Detailed results for the first three months for fiscal year 2022 will be published on 3 May 2022 as announced.

The key figures used are explained in Uniper SE's Annual Report 2021. Uniper SE's Annual Report 2021 is available at www.uniper.energy.

Uniper will offer an investor and conference call with Tiina Tuomela (CFO) and Niek den Hollander (CCO) on the preliminary quarterly results tomorrow (Wednesday, 27 April 2022) at 8:30 CET. The participation link can be found at ir.uniper.energy. The presentation will be made available online shortly before.


Contact:
Person making the notification:
Dr. Sascha Fehlemann
SVP Corporate Legal Affairs

Contact for investors and analysts:
Stefan Jost
Executive Vice President
Group Finance & Investor Relations
Uniper SE
Holzstraße 6
40221 Düsseldorf
Telefon +49 211 4579 8200
Telefax +49 211 4579 2022
Email ir@uniper.energy

Media contact:
Georg Oppermann
Senior Vice President
External Communication & Sustainability Communication
Uniper SE
Holzstraße 6
40221 Düsseldorf
Telefon +49 211 4579 5532
Mobile +49 178 439 48 47
press@uniper.energy