Uniper SE has canceled a EUR 1 billion ($1.17 billion) loan remaining from government bank KfW as part of the German power and gas utility’s push to diversify its funding sources.
“The need for a EUR 1 billion committed line from KfW becomes redundant given Uniper’s solid cash position and access to various funding instruments”, Uniper said in a statement on its website.
“Uniper has secured two bilateral bank facilities with a combined commitment amount of EUR 0.7 billion which serve to partially replace the remaining KfW facility”, the Düsseldorf-headquartered company added, not naming the lenders.
“The KfW facility was initially taken on to master the extraordinarily high funding needs at the beginning of the gas and energy crisis in early 2022 and was a key pillar of the stabilization over the course of 2022.
“By canceling the remaining facility amount with KfW, Uniper underpins its good standing in commercial banking market and with bilateral facilities Uniper diversifies its funding sources”.
Before the government bailed out Uniper in 2022, it had already been supporting Uniper through KfW loans. While Berlin’s takeover scaled back the loans, the Economy Ministry said in an online statement December 19, 2022, that KfW would continue bankrolling Uniper in 2023 and 2024.
In its quarterly statement November 6, 2025, Uniper said, “Despite repaying EUR 2,551 million to the Federal Republic of Germany in March, Uniper had an economic net cash position of EUR 3,319 million at the end of the first nine months of 2025”.
“The Federal Republic of Germany’s reimbursement claims stemming from its financial stabilization of Uniper in 2022 are fully settled now”, Uniper said.
For January-September 2025 Uniper reported EUR 44.83 billion in sales, down from EUR 48.26 billion for the first three quarters of 2024 partly due to a portfolio decrease from asset sales. The divestments have been required by the European Commission as part of fair competition guardrails related to Berlin’s bailout of Uniper.
Net profit adjusted for nonrecurring items for the first nine months of 2025 was EUR 268 million, compared to EUR 1.32 billion for the same period last year. Earnings per share for January-September 2025 landed at EUR 1.35, down from EUR 1.92.
Before adjustment, net income was EUR 568 million, down from EUR 841 million year-on-year.
Adjusted EBITDA totaled EUR 641 million, compared to EUR 2.18 billion for the 2024 comparable period. Adjusted EBIT came at EUR 235 million, compared to EUR 1.72 billion for the first nine months of 2024.
To contact the author, email jov.onsat@rigzone.com
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