Sunday, January 29, 2023
HomeMarketStruggling gas importer Uniper unveils record 40 billion euro net loss By...

Struggling gas importer Uniper unveils record 40 billion euro net loss By Reuters

© Reuters. FILE PHOTO: Logo of Uniper is pictured at the company’s headquarters in Duesseldorf, Germany, September 21, 2022. REUTERS/Wolfgang Rattay
- Advertisement -

FRANKFURT (Reuters) -Soon-to-be-nationalised gas importer Uniper on Thursday disclosed a record 40 billion euro ($39.3 billion) net loss for the first nine months of the year, reflecting expected future losses as a result of Russia’s move to stop supplies.

“Our half-year numbers already indicated that this has left massive scars in our financial results,” Chief Financial Officer Tiina Tuomela said, adding an agreed stabilisation package that will see Germany take over Uniper was currently being finalised.

Uniper said the net loss factored in 10 billion euros of realised losses the company incurred by replacing Russian gas volumes on the spot market at much higher prices as well as 31 billion euros of future losses related to this.

($1 = 1.0187 euros)

Story Credit: investing.com

RELATED ARTICLES
- Advertisment -

Most Popular