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Germany’s Uniper raises 2024 outlook after disputes settlement
Global Banking & Finance Review®
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(Reuters) -German state-owned utility Uniper raised its full year 2024 adjusted EBITDA outlook on Wednesday to a range of 2.5 billion euros ($2.64 billion) to 2.8 billion euros due to the settlement of legal disputes.
(Reuters) -German state-owned utility Uniper raised its full year 2024 adjusted EBITDA outlook on Wednesday to a range of 2.5 billion euros ($2.64 billion) to 2.8 billion euros due to the settlement of legal disputes.
Settling the legal disputes will release funds that were set aside for this purpose, which will show in the fourth-quarter results of this year, it said.
The company said it now expects an adjusted net income of between 1.5 billion euros and 1.8 billion euros in 2024, up from a previous forecast of 1.1 billion euros to 1.5 billion euros.
In June, Uniper won a multibillion-euro arbitration against former supplier Gazprom, marking a landmark victory after Gazprom suspended supplies in 2022, forcing it to buy replacement volumes at high spot-market prices.
The company said the released funds were not related to the Gazprom case.
Uniper’s Frankfurt-listed shares were up 3.9% at 2013 GMT following the news.
($1 = 0.9466 euro)
(Reporting by Urvi Dugar and Riham Alkousaa; Editing by Bill Berkrot and Jonathan Oatis)
EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure used to analyze a company's operating performance without the effects of capital structure and tax rates.
Net income is the total profit of a company after all expenses, taxes, and costs have been deducted from total revenue. It is often referred to as the bottom line.
A stock market is a public market for buying and selling shares of publicly traded companies. It provides a platform for investors to trade securities and is an essential component of the economy.
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