Q1 2025 Uniper SE Earnings Call Transcript

May 06, 2025 / 06:30AM GMT

Release Date Price: $44.34

Transcript

Key Points

Positve

Uniper SE (UNPRF) confirmed its full-year 2025 outlook for adjusted EBITDA in the range of EUR900 million to EUR1.3 billion and adjusted net income between EUR250 million and EUR550 million.
The company maintains a strong financial position with an economic net cash position of EUR2.6 billion at the end of March 2025.
Uniper SE (UNPRF) successfully signed new LNG long-term supply contracts, enhancing its strategic development and diversification of its gas portfolio.
The UK power plant portfolio remains a significant earnings driver, with successful participation in the T-4 capacity auction, securing future earnings contributions.
Uniper SE (UNPRF) is well-positioned to contribute to Germany's energy transformation, with plans to build up to 20 gigawatts of new gas-fired power plants by 2030, aligning with the new capacity market scheme.

Negative

Uniper SE (UNPRF) reported a significant decline in earnings for Q1 2025, with an adjusted EBITDA of minus EUR139 million and an adjusted net income of minus EUR143 million.
The Gas Midstream business faced challenges due to high-priced inventory gas and past optimization activities, negatively impacting margins.
The Greener Commodities segment posted an operating loss of EUR492 million in Q1 2025, primarily due to negative effects in the gas portfolio and the lapse of gas curtailment gains.
The Flexible Generation business experienced a year-on-year decline in adjusted EBITDA due to less favorable commodity price developments and weaker power generation hedging.
Uniper SE (UNPRF) faced a negative operating cash flow of minus EUR1.1 billion in Q1 2025, driven by payment obligations towards the Federal Republic of Germany.

Operator

Dear ladies and gentlemen, welcome to the Uniper Analyst and Investor conference call first quarter results 2025. At our customer's request, this conference will be recorded. (Operator Instructions)

May I now hand you over to the Executive Vice President of Investor Relations, Sebastian Veit, who will start the meeting today. Please go ahead.

Sebastian Veit

Uniper SE - Executive VP & Head of Investor Relations

Thank you, operator. Dear investors and analysts, good morning. I'm pleased to welcome you to our conference call on the first quarter results 2025. Next to me on today's call is Jutta Donges, our Chief Financial Officer; and will lead you through the presentation today. As usual, there will be a Q&A session after the presentation.

And now let me hand over to Jutta Donges, please.

Jutta Donges

Uniper SE - Chief Financial Officer, Member of the Management Board

Thank you, Sebastian. I would also like to welcome you and wish you all a good morning. Let me start with the key financial

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