Uniper (UNO) Q4 2025 (Media) earnings summary

Executive summary

• Achieved 2025 financial targets with adjusted EBITDA of EUR 1.097 billion and adjusted net income of EUR 544 million, reflecting normalization after exceptional prior years and resilience amid geopolitical and energy market upheavals.

• Celebrated 10th anniversary, highlighting a decade of transformation and resilience.

• Resumed dividend payments, proposing EUR 0.72 per share for 2025, reflecting improved financial stability.

• Significant progress in risk reduction, balance sheet restructuring, and capital market readiness.

Financial highlights

• Adjusted EBITDA for 2025: EUR 1.097 billion, down from EUR 2.612 billion in 2024.

• Adjusted net income for 2025: EUR 544 million, down from EUR 1.653 billion in 2024.

• Economic net cash position of EUR 2.823 billion after repaying EUR 2.551 billion to the German government.

• Liquidity at EUR 5.5 billion; debt-free on a net basis.

• Sales for 2025 totaled EUR 60.955 billion, down from EUR 69.636 billion in 2024.

Outlook and guidance

• 2026 guidance: Adjusted EBITDA between EUR 1.0–1.3 billion; adjusted net income between EUR 350–600 million.

• Earnings base considered stable and normalized, with 2026 performance expected broadly in line with 2025.

• Expect further reduction in Scope 1 emissions due to asset sales.

• Confident outlook based on improved resilience, diversified portfolio, and strong liquidity.