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Uniper records 49% YOY drop in H1'19 adjusted EBIT


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Uniper records 49% YOY drop in H1'19 adjusted EBIT

Uniper SE on Aug. 8 reported adjusted EBIT of €308 million in the first half of 2019, a 49% drop from €601 million in the same period of 2018.

The German utility's net income attributable to shareholders improved to €925 million from a net loss of €546 million in the prior-year period.

Adjusted funds from operations fell to €124 million in the first half of 2019, from €589 million in the comparable 2018 period. Sales grew year over year to €36.72 billion from €35.97 billion.

Uniper posted a negative operating cash flow for the first half of €322 million, compared with positive operating cash flow of €465 million a year ago.

"The first half of the year reflected the anticipated non-recurrence of positive one-off items recorded last year. But principally our business in Russia and our gas business are already showing significant year-on-year improvements," Uniper CFO Sascha Bibert said.

Uniper maintained its adjusted EBIT guidance of between €550 million and €850 million, and proposed a dividend of €390 million for 2019.