(November 05)
Uniper recorded adjusted EBIT of €614 million in the first nine months of 2021. The prior-year figure was €405 million. The primary reason for the more than 50-percent earnings increase was a higher contribution of the international and gas mid-stream commodity business. Earnings were adversely affected by a price- and volume-driven increase in provisions for carbon allowances relative to the prior-year period. The provisions are mirrored by carbon hedging transactions that will be unwound in the fourth quarter of 2021. This effect therefore will not adversely impact adjusted EBIT for the year as a whole.
Earnings at the European Generation segment surpassed the prior-year figure. The segment benefited above all from the commissioning of Datteln 4 coal-fired power plant in late May 2020 and the return to commercial operations of Irsching 4 and 5 gas-fired generating units in the fourth quarter of 2020. Higher income from the UK capacity market also had a positive impact on earnings.
Read More: https://www.uniper.energy/news/unipers-operating-business-delivers-strong-nine-month-performance
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