Uniper (UNO) investor relations material

Executive summary

• Adjusted EBITDA reached €407 million and adjusted net income €231 million in Q1 2026, both significantly above the prior-year period and in line with expectations, driven by strong operational performance across segments.

• Net income for Q1 2026 was €327 million, up from €82 million in Q1 2025, with earnings per share at €0.80.

• Economic net cash position improved to €4.4 billion by end of March 2026, reflecting robust liquidity and reduced provisions.

• The business remains resilient due to a diversified gas portfolio, successful de-risking, and limited direct exposure to the Middle East.

• Major business developments included the launch of a helium business sale, new battery storage and renewable agreements, and expanded partnerships in India.

Financial highlights

• Adjusted EBITDA improved to €407 million from -€139 million year-over-year; adjusted net income rose to €231 million from -€143 million.

• Net income for Q1 2026 was €327 million, up from €82 million in Q1 2025.

• Operating cash flow was strong at €1,588 million, supporting a net cash position of €4,394 million.

• Sales for Q1 2026 totaled €17,342 million, down from €21,261 million year-over-year, mainly due to lower spot prices and reduced trading volumes.

• Proposed dividend for FY 2025 is €0.72 per share, totaling about €300 million, pending AGM approval.

Outlook and guidance

• Full-year 2026 guidance reaffirmed: adjusted EBITDA expected between €1 billion and €1.3 billion; adjusted net income between €350 million and €600 million.

• Earnings expected to be front-loaded in 2026, with a strong Q2 anticipated, especially in Greener Commodities.

• All segments expected to exceed prior-year levels, with Green Generation benefiting from improved nuclear plant availability.

• Scope 1 GHG emissions are expected to decline significantly in 2026, driven by coal asset divestments.

• Around 80% of 2026 Nordic exposure is hedged, 45% for 2027, and 25% for 2028.