Uniper: no further government money needed for now

Bailed-out German utility Uniper won’t need any further state aid for the time being, it said on Wednesday, helped by lower gas prices that radically cut the costs it incurs to replace Russian volumes.

According to preliminary results ahead of official earnings scheduled for May 4, Uniper expects first-quarter adjusted operating profit (EBIT) of 749 million euros, compared with a 917 million loss in the same period last year, it said.

Adjusted net income for the period is seen at 451 million euros, up from a year-earlier loss of 674 million.

“Uniper does not require new equity injections from the German Government for the time being,” the company said, adding that given the volatility of gas prices, potential future equity injections could not be ruled out going forward.

($1 = 0.9054 euros)