BERLIN, Oct 24 (Reuters) - German state-owned utility Uniper expects an 80% drop in nine-month adjusted net profit, it said on Friday, citing reduced hedging gains and the loss of Russian gas supplies.
Nine-month adjusted net profit is seen at 268 million euros ($312 million), down from 1.3 billion in the same period last year, the company, which was bailed out by Berlin during Europe's energy crisis, said as it published preliminary results.
The company, which generates electricity and trades gas and other energy commodities, said it expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 641 million euros for the first nine months of 2025, down 71% from a year earlier.
Uniper, which will release full nine-months results on November 6, confirmed its full-year earnings outlook, which assumes adjusted EBITDA of 1 billion to 1.3 billion euros and adjusted net profit of 350 million to 550 million euros in 2025.
($1 = 0.8575 euros)
Reporting by Kirsti Knolle and Christoph Steitz Editing by Ludwig Burger and Matthias Williams
Source: Reuters