Uniper posts operating profit drop as carbon costs increase

FILE PHOTO: A logo of German energy utility company Uniper SE is pictured in the company's headquarter in Duesseldorf, Germany, March 8, 2018. REUTERS/Thilo Schmuelgen - Copyright THILO SCHMUELGEN(Reuters)

By Reuters

Published on 08/08/2019 - 14:05•Updated 26/04/2024 - 07:00

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FRANKFURT (Reuters) - German energy firm Uniper <UN01.DE> on Thursday said that operating profit nearly halved in the first six months of 2019, blaming a temporary increase in costs for carbon allowances.

First-half adjusted earnings before interest and tax (EBIT) fell 49% to 308 million euros (£283.8 million). The company confirmed its outlook, still expecting adjusted EBIT of 550 million to 850 million euros in 2019.