By Giulia PetroniGerman utility Uniper swung to a profit in the first nine months of the year, when its performance benefited from lower commodity prices and hedging transactions tied to its power-generation and gas midstream businesses. The company said Tuesday that it registered a net profit of 9.77 billion euros ($10.37 billion) in the period compared with a loss of EUR40.31 billion a year prior. No additional costs for gas replacement procurement were incurred in the period, Uniper said. As anticipated during preliminary results, adjusted net profit was EUR3.74 billion, while adjusted earnings before interest and taxes came in at EUR5.48 billion. Uniper confirmed that it expects adjusted net profit between EUR4 billion and EUR5 billion and adjusted EBIT of EUR6 billion-EUR7 billion in the full year.

Source: Wall Street Journal October 31, 2023 07:16 UTC