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Uniper (DE:UN0)
XETRA:UN0
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Uniper
(XETRA:UN0)
Rating:61Neutral
Price Target:―
Uniper (UN0) vs. iShares MSCI Germany ETF (EWG)
Market Cap
$15.43B
Dividend YieldN/A
Average Volume (3M)2.63K
Price to Earnings (P/E)55.4
Beta (1Y)0.74
Revenue Growth-35.47%
EPS Growth-95.28%
CountryDE
Employees7,431
SectorUtilities
Sector Strength76
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)0.20
Shares Outstanding416,475,340
10 Day Avg. Volume2,760
30 Day Avg. Volume2,629
Financial Highlights & Ratios
PEG Ratio1.59
Price to Book (P/B)1.50
Price to Sales (P/S)0.00
P/FCF Ratio-9.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$30.00Price Target Upside-19.04% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
Uniper Business Overview & Revenue Model
Company DescriptionUniper SE operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally. It operates in three segments: Green Generation, Flexible Generation, and Greener Commodities. The Green Generation segment operates emission-free electricity generation facilities, including hydroelectric, nuclear, wind, and solar power plants. The Flexible Generation segment operates power and heat generation plants, such as gas-fired, combined gas and steam, coal, and oil-fired power plants, as well as provides energy services. The Greener Commodities segment sells natural gas to distributors, large industrial customers, power plant operators, and international energy markets. This segment also engages in gas storage operations; infrastructure investments; import, trade, and process or store green molecules comprising hydrogen, biomethane, and ammonia; procurement of fuels; trading carbon dioxide certificates; and trading green certificates for the supply of green energy. The company was founded in 1894 and is headquartered in Düsseldorf, Germany. Uniper SE operates as a subsidiary of UBG Uniper Beteiligungsholding GmbH.
How the Company Makes MoneyUniper generates revenue through several key streams: First, the company earns income from the sale of electricity generated by its power plants. This includes both selling directly to the market and through long-term contracts. Second, Uniper's global commodity trading operations contribute significantly to its revenue, as it engages in the trading of natural gas, coal, and electricity across various markets. This trading activity is supported by Uniper's extensive infrastructure, including storage facilities and pipelines. Third, the company offers energy services, such as asset management and engineering solutions, which provide additional income. Strategic partnerships and joint ventures in different regions also play a role in enhancing its market presence and financial performance.
Uniper Earnings Call Summary
Earnings Call Date:May 06, 2025
(Q1-2025)
| % Change Since: -7.72%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with significant financial losses in the first quarter of 2025 due to challenges in the gas midstream business and high-priced inventory gas. However, strategic advancements in LNG supply and successes in the UK power market were notable positives. The overall sentiment is balanced with both challenges and achievements.Q1-2025 Updates
Positive Updates
Strong Economic Net Cash Position
Uniper ended the first quarter of 2025 with an economic net cash position of EUR 2.6 billion, demonstrating a strong financial situation even after fulfilling significant repayment obligations to the Federal Republic of Germany.
Strategic Advances in LNG Supply
Uniper signed two new LNG contracts with the Australian gas player, Woodside, each for around 14 terawatt hours per year supply until 2039, enhancing its long-term supply portfolio.
UK Power Market Success
Uniper's UK power plants secured contracts in the T-4 capacity auction for the delivery years '28 and '29, with a total capacity of 4.4 gigawatts awarded, expected to contribute about EUR 300 million in future earnings.
Positive Outlook for Green Generation Segment
Despite a negative price trend in Sweden, the Green Generation segment is expected to achieve higher results compared to the previous year, driven by improved hydro results in Germany.
Negative Updates
Significant Decline in Adjusted EBITDA and Net Income
Uniper reported an adjusted EBITDA of minus EUR139 million and an adjusted net income of minus EUR143 million for the first quarter of 2025, significantly below the previous year's figures.
Challenges in Gas Midstream Business
The Gas Midstream business posted an operating loss of EUR492 million in Q1 2025, primarily due to high-priced inventory gas and a normalization of earnings after previous crisis years.
High Withdrawal from Gas Storage
Uniper's gas filling levels fell from about 80% at the end of 2024 to 27% at the end of March 2025, impacting the Gas Midstream business negatively.
Company Guidance
During Uniper's Q1 2025 earnings call, CFO Jutta Donges reported an adjusted EBITDA of minus EUR139 million and an adjusted net income of minus EUR143 million, attributing the decline to weaker gas midstream margins and a normalization following exceptional years. Despite the slow start, Uniper affirmed its full-year 2025 guidance, expecting an adjusted EBITDA between EUR900 million and EUR1.3 billion, and adjusted net income ranging from EUR250 million to EUR550 million. The company maintained a strong financial position with an economic net cash of EUR2.6 billion after fulfilling EUR2.6 billion in contractual recovery claims to Germany. Strategic developments included new LNG contracts and participation in UK capacity auctions, projecting a EUR300 million earnings contribution. Uniper's market strategy aligns with Germany's plans for 20 gigawatts of new gas-fired power plants by 2030, leveraging sites and expertise to maintain its 10% market share in conventional power plant capacity.Uniper Financial Statement Overview
Summary
Uniper's financial performance shows mixed trends. The company has improved gross profit margins and cash flow generation, which are strengths. However, profitability is under pressure with a net profit margin drop, and return on equity has significantly weakened. Despite reduced leverage, the focus on profitability and revenue growth remains crucial.Income Statement
Uniper exhibits fluctuating revenue trends with significant revenue decline in recent years. The gross profit margin improved to 7.71% in 2024 from a negative in 2022, indicating better cost management. However, net profit margin fell sharply from 5.85% in 2023 to 0.43% in 2024, highlighting profitability challenges.65
Positive
Balance Sheet
The company shows a strong equity position with an equity ratio of 26.98% in 2024. The debt-to-equity ratio improved significantly to 0.00 in 2024 from 0.18 in 2023, reflecting reduced leverage. However, the return on equity decreased from 61.81% in 2023 to 2.86% in 2024, indicating reduced efficiency in generating returns on equity capital.70
Positive
Cash Flow
Uniper's free cash flow improved significantly, growing from €984 million in 2024, up from a negative in 2022. The operating cash flow to net income ratio was 5.61 in 2024, showing strong cash generation relative to net income, although free cash flow to net income was notably lower at 3.31.75
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 69.64B | 107.92B | 274.12B | 162.97B | 50.97B |
| Gross Profit | 5.37B | 2.72B | -4.63B | 4.70B | 512.00M |
| EBITDA | 3.39B | 8.24B | -11.40B | -3.80B | 1.51B |
| Net Income | 297.00M | 6.31B | -19.00B | -4.17B | 397.00M |
Balance Sheet | |||||
| Total Assets | 38.49B | 54.96B | 146.92B | 157.48B | 44.64B |
| Cash, Cash Equivalents and Short-Term Investments | 6.73B | 4.26B | 4.63B | 2.97B | 384.00M |
| Total Debt | 0.00 | 1.85B | 11.94B | 8.97B | 1.74B |
| Total Liabilities | 27.95B | 44.52B | 142.53B | 150.69B | 33.45B |
| Stockholders Equity | 10.38B | 10.21B | 4.19B | 6.30B | 10.75B |
Cash Flow | |||||
| Free Cash Flow | 984.00M | 5.99B | -15.60B | 3.04B | 516.00M |
| Operating Cash Flow | 1.67B | 6.55B | -15.08B | 3.62B | 1.24B |
| Investing Cash Flow | -432.00M | 3.09B | 1.23B | -7.52B | -1.13B |
| Financing Cash Flow | 1.00M | -10.12B | 15.95B | 6.56B | -679.00M |
Uniper Technical Analysis
Negative
37.05
Price Trends
38.59
Negative
40.26
Negative
41.85
Negative
Market Momentum
-0.41
Positive
40.34
Neutral
7.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:UN0, the sentiment is Negative. The current price of 37.05 is below the 20-day moving average (MA) of 37.65, below the 50-day MA of 38.59, and below the 200-day MA of 41.85, indicating a bearish trend. The MACD of -0.41 indicates Positive momentum. The RSI at 40.34 is Neutral, neither overbought nor oversold. The STOCH value of 7.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DE:UN0.
Uniper Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | HK$30.48B | 8.75 | 5.37% | 4.10% | -3.09% | 4.51% | |
61 Neutral | $15.43B | 55.37 | -0.73% | ― | -35.47% | -95.28% | |
| ― | €2.84B | ― | -20.91% | ― | ― | ― | |
| ― | €22.69B | 19.72 | 9.65% | 2.26% | ― | ― | |
| ― | €2.06B | 15.20 | 11.68% | ― | ― | ― | |
| ― | €1.98B | 12.82 | 7.20% | 4.27% | ― | ― | |
| ― | €2.28B | 4.95 | 16.14% | 3.17% | ― | ― |
* Utilities Sector Average
Performance Comparison
DE:UN0
Uniper
37.05
-2.79
-7.00%
DE:ECV
Encavis AG
17.56
0.58
3.42%
GB:0IHQ
EnBW Energie Baden-Wurttemberg
69.00
2.48
3.73%
GB:0ORL
Gelsenwasser
518.25
0.00
0.00%
GB:0FCK
MVV Energie
30.00
0.00
0.00%
DE:MNV6
Mainova AG
342.00
-1.63
-0.47%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.