Uniper: Tension in front of the Fortum CMD

The figures for the third quarter at Uniper are roughly in line with expectations. The company reports an adjusted EBIT of -286 million euros (previous year: 105 million euros). The adjusted loss increases from 107 million euros to 219 million euros.

For the full year, the utility continues to expect adjusted EBIT of EUR 800 million to EUR 1 billion. In 2019 it was 863 million euros. Uniper sees the adjusted profit at 600 million euros to 800 million euros (2019: 614 million euros).

The analysts from Independent Research forecast adjusted earnings per share of 1.87 euros (old: 1.92 euros). The forecast for 2021 drops from 1.74 euros to 1.73 euros.

As before, there is a hold recommendation for Uniper shares. The price target remains at EUR 28.40.

The experts continue to see risks in the construction of the North Stream Pipeline. But it will also be important how the majority shareholder Fortum behaves in the future. There is a Markets Day (CMD) on December 3rd, which could bring new knowledge.

Uniper shares gain 0.5 percent at noon to EUR 28.64.


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