Uniper condemns Russian activities and announce way forward
Uniper condemns the Russian invasion of Ukraine in the strongest possible terms. With this war, Russia is breaking international law and the principles of the UN Charter.
”I feel deep sympathy for all people who are directly or indirectly affected by a war in Ukraine for which there is no justification whatsoever. Especially in light of our long-standing business relations with Russia, we are both shocked and moved by these unprecedented developments,” said Uniper CEO Klaus-Dieter Maubach. ”It is important that the German government is currently doing everything humanly possible to reduce Germany’s dependence on Russian commodity exports. As an energy supplier, it is our duty to make our contribution to securing energy supply, especially in such difficult times. Due to the existing contracts with Russia or Russian companies, we bear a special responsibility not only for ourselves, but also for large parts of German industry and many people in Germany and across Europe. Two things need to be done now: Maintain the existing energy flows, and at the same time find ways and means to make the gas supply for Germany and Europe more diverse in the short-, medium- and long-term and thus less vulnerable to geopolitical risks. In the short-term, we have resumed work on a national LNG import terminal in Wilhelmshaven and are fully supporting the German government in this, as well as other projects.”
Uniper has taken decision to record a full impairment loss on the Nord Stream 2 financial claim
Uniper will recognize an impairment loss of its loans towards Nord Stream 2 AG in the amount of €987 million. The book value results from the loans originally provided to Nord Stream 2 (€695 million) plus the current amount of accrued interests (€292 million). This non-operating impairment loss will impact the consolidated IFRS-result in the first quarter of the current financial year, but will not affect the adjusted earnings figures. Going forward, Uniper will stop accruing the related interest income of around €100 million per year.
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