Uniper profit doubles to $448 mln as Germany launches sale process
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Uniper on Tuesday posted adjusted net income of $448 million for the first half of 2026, more than double the $156 million a year earlier. The German energy giant reaffirmed its full-year core earnings forecast and raised the lower end of its net income outlook. The results came as Germany launched a process to privatize the 99% stake it nationalized during the 2022 crisis, with Equinor, Brookfield Asset Management and others expressing interest.
Earnings Rebound
Uniper's adjusted net income for January–June 2026 reached $448 million, up from $156 million a year earlier, as its gas business performed without the negative effects that had weighed on earnings in previous years. CEO Michael Lewis said the company is now more resilient and well positioned to seize growth opportunities, enhance security of supply, and accelerate Europe's energy transformation. The utility also reaffirmed its full-year 2026 core earnings forecast, initially set in March, and raised the lower end of its adjusted net income guidance.
Privatization Process
Germany's government, which rescued Uniper with a $53 billion bailout during the 2022 energy crisis, announced in May that it is considering a sale or IPO for its 99% stake. Norway's Equinor, Canada's Brookfield Asset Management, Czech billionaire Daniel Kretinsky's EPH, and Abu Dhabi's Taqa have reportedly expressed interest in recent months. Analysts and investors are closely watching Uniper's financial performance as the sales process unfolds, viewing the earnings recovery as a test of the company's market value.
What's Next
Berlin is expected to select a divestiture path by year-end, with a public offering remaining an option. It remains unclear whether any suitor will meet the government's valuation expectations for the nationalized energy giant.
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Uniper profit doubles to $448 mln as Germany launches sale process
