Uniper to Resume Dividend Payments

Uniper SE shareholders have approved a dividend of EUR 0.72 ($0.84) per share for 2025, the power and gas utility's first dividend payment since its bailout by the German government late 2022.

"In recent years, Uniper has made significant progress on its path back to capital market readiness. Key achievements include risk reduction, balance sheet restructuring, and the restoration of a strong financial foundation", it said in an online statement.

"In light of this progress and the amendment to the German Energy Security Act in December 2025, the Management Board and Supervisory Board proposed a dividend distribution of EUR 300 million - equivalent to EUR 0.72 per share - to the Annual General Meeting".

Chief executive Michael Lewis said, "The EUR 300 million dividend payout to all shareholders marks an important step in further strengthening Uniper's attractiveness in the capital markets. I welcome the fact that the German Federal Ministry of Finance has initiated the reprivatization process for Uniper".

"Our diversified gas and LNG procurement portfolio strengthens security of supply, particularly in the current tense geopolitical environment. We are confident of achieving our earnings guidance for 2026".

Uniper expects adjusted EBITDA this year to land at EUR 1-1.3 billion and adjusted net income to be EUR 350-600 million. For the first quarter it reported EUR 231 million in net profit adjusted for nonrecurring items, bouncing back from an adjusted net loss of EUR 143 million for the same three-month period last year.

"We don't currently source any LNG from the Middle East. Our broadly diversified gas and LNG procurement portfolio is well positioned to withstand geopolitical risks and the resulting market fluctuations", Lewis said in Uniper's quarterly report May 12.

For 2025 Uniper reported EUR 544 million in adjusted net income, compared to an adjusted net loss of EUR 7.4 billion for 2022. Adjusted EBITDA for 2025 landed at EUR 1.1 billion, more than halved from EUR 2.61 billion for 2024.

"As anticipated, our earnings in 2025 were significantly lower than in the prior year and, when adjusted for the changes to our business portfolio, were approximately at the prior-crisis level", chief financial officer Christian Barr said March 11. "We can't forget that our portfolio is smaller especially due to the coal exit and implementation of EU remedies.

"Our earnings reflected the consequences of the gas crisis for the last time. Our earnings base is now stable and normalized. In a dynamic market environment, our earnings forecast for 2026 is broadly in line with the prior year".

Uniper has sold assets as part of the conditions agreed with the European Commission for the German government's takeover, which served to recapitalize the company during the energy crisis.

Sales revenue totaled EUR 60.96 billion for 2025, down from EUR 69.64 billion for 2024. Electricity sales fell to 127.3 billion kilowatt hours (kWh) in 2025 from 146.6 billion kWh in 2024. Gas sales dropped to 1.12 trillion kWh in 2025 from 1.34 trillion kWh in 2024.

The government continues to own a 99.12 percent stake in Uniper. The remaining is held mainly by private shareholders, Uniper says on its website.

Germany has committed to cutting its ownership to a maximum of 25 percent plus one share by 2028, according to the bailout agreement with the European Commission.

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