Uniper Q1 Net Profit Surges, Adj. EBIT Down; Confirms FY19 Outlook - Quick Facts

(RTTNews) - German energy generation and energy trading company Uniper SE, a subsidiary of E.ON SE (EONGY.PK), reported Tuesday that its first-quarter net income attributable shareholders totaled 768 million euros, significantly higher than last year's 114 million euros.

The company attributed the increase to positive effects resulting from the marking to market of commodity derivatives at the balance-sheet date.

Adjusted EBIT, meanwhile, declined 47.3 percent to 185 million euros from last year's 350 million euros. The company said the year-on-year decline was largely anticipated. The adverse factors included temporary effects in power generation in Europe and a weaker gas and LNG business.

First-quarter adjusted funds from operations amounted to 243 million euros, down 56.8 percent.

Uniper sales increased 3.8 percent to 21.83 billion euros from prior year's 21.03 billion euros.

Further, Uniper reaffirmed its financial targets for 2019 as well as its intended dividend target.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.