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Uniper posts 22.4% drop in full-year 2018 adjusted EBIT

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Uniper posts 22.4% drop in full-year 2018 adjusted EBIT

Uniper SE booked €865 million in full-year 2018 adjusted EBIT, a 22.4% drop from €1.11 billion in the full year of 2017. The S&P Global Market Intelligence consensus adjusted EBIT estimate for 2018 was €878.8 million.

The Düsseldorf, Germany-headquartered utility narrowed net loss attributable to its shareholders to €452 million in 2018, from €656 million in the prior year.

Adjusted fund from operations grew to €756 million from €753 million in 2017. Sales totaled €78.18 billion in 2018, up 8.2% from €72.24 billion in 2017.

Uniper posted operating cash flow for the year of €1.24 billion, down 10.4% from €1.39 billion in 2017.

"Although our operating performance was somewhat weaker, we kept the company on course in an extremely difficult market environment," Uniper CFO Christopher Delbrück. "The stable performance of our adjusted funds from operations again enables us to make our shareholders an attractive dividend proposal."

The company is proposing an increased dividend payout of €329 million, or 90 euro cents per share, for 2018.

Uniper expects 2019 adjusted EBIT to be between €550 million and €850 million and adjusted funds from operations of between €650 million and €950 million. The proposed dividend for the 2019 financial year is €390 million.