The losses of the energy supplier Uniper are widening because the company has to continue to buy expensive alternatives for the lack of Russian gas supplies.
According to preliminary figures, the utility expects a “significantly negative result” for the first nine months of the financial year, with the adjusted net loss expected to be EUR 3.2 billion.
In the same period of the previous year, Uniper had made a profit of 487 million euros.
Jonas Jansen
Business correspondent in Düsseldorf.
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Due to the ongoing, daily losses in the millions, Uniper has now used up more than half of its equity, which is why the company has to call an extraordinary general meeting for mid-December to inform its shareholders.
There could then also be further details on the nationalization of Uniper, which is currently being worked on.
So far, it has been assumed that the federal government will provide an aid package of around 30 billion euros, but this rescue should also be partially refinanced by income from the planned gas levy.
However, that is now history, which is why Uniper may need further financing depending on how the gas price develops.
At the end of September, the federal government, Uniper and the previous owner Fortum – whose largest shareholder is the Finnish state – agreed on a stabilization package, in the course of which the federal government would take a stake of around 99 percent in Uniper by means of an equity increase of 8 billion euros by the Issue of new shares at a price of EUR 1.70.
He also takes over the shares of Fortum.
Several authorities have to agree to the stabilization package, including the EU Commission, and the shareholders vote on the capital increase at an extraordinary general meeting.
Because Uniper's losses will probably continue to have to be intercepted by the state,
the remaining investors flee the paper.
The share price of the S-Dax company temporarily lost more than 6 percent on Wednesday.