Uniper Se · XETR:UN0
Uniper — FY 2024 Earnings Presentation
33 slides from Uniper's earnings presentation, Feb 25, 2025
Slide 1: Full Year 2024 Results
Full Year 2024 Results Michael Lewis, CEO │ Jutta Dönges, CFO 25 February 2025 |
Slide 2: Agenda
Agenda 1. Review Full Year 2024 2. Review 1. FinancialFull Performance Year 2024& Outlook 3. Appendix 2. Financial Performance & Outlook 3. Appendix 2 |
Slide 3: Strategy execution taking shape in 2024
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Strategy execution taking shape in 2024 Strategy execution Coal exit advancing Business risk reduced • Around €250m investment • Significant progress in • Settlement of various legal decision taken f
Slide 4: Increased earnings outlook for FY 2024 delivered
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Increased earnings outlook for FY 2024 delivered €2.6bn €1.6bn €3.4bn -64%1 -64%1 +11%1 Adjusted EBITDA Adjusted Net Income Economic net cash FY 2024 FY 2024 YE 2024 FY 2024 results • Another excepti
Slide 5: The big picture – A challenging macro environment and volatile commodity markets
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 The big picture – A challenging macro environment and volatile commodity markets Gas prices1 Electricity prices and spark spreads2 Key messages €/MWh €/MWh and £/MWh • European gas and electricity de
Slide 6: Goals & outlook – Outlook 2025
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Goals & outlook – More growth investments, new projects and a prudent earnings outlook for FY 2025 Outlook 2025 • Uniper’s earnings outlook reflects realignment of global commodity markets and the we
Slide 7: Projects – At the top of the list in FY 2025
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Projects – At the top of the list in FY 2025 Green Generation Flexible Generation Greener Commodities • Several renewable projects in • Driving forward several major power • Rebuilding our global gas
Slide 8: Agenda
Agenda 1. Review Full Year 2024 2. Review 1. FinancialFull Performance Year 2024 & Outlook 3. Appendix 2. Financial Performance & Outlook 3. Appendix 8 |
Slide 9: Key financials FY 2024 – Outstanding performance albeit below prior-year's record figures
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Key financials FY 2024 – Outstanding performance albeit below prior-year’s record figures Adjusted EBITDA Adjusted Net Income (ANI) Key messages €m €m • Stellar year 2024 and fully in line with the g
Slide 10: Key earnings drivers FY 2024 – Gas Midstream and Flexible Generation
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Key earnings drivers FY 2024 – Gas Midstream and Flexible Generation on the way to normalized earnings Reconciliation Adjusted EBITDA FY 2023 to FY 2024 Key messages €m • Gas Midstream with solid ope
Slide 11: Adjusted Net Income FY 2024 – Supported by lower depreciation
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Adjusted Net Income FY 2024 – Supported by lower depreciation and a positive economic interest result Reconciliation Adjusted EBITDA FY 2024 to Adjusted Net Income FY 2024 Key messages €m • Lower dep
Slide 12: Operating cash flow FY 2024 – Strong performance
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Operating cash flow FY 2024 – Strong performance Reconciliation Adjusted EBITDA FY 2024 to operating cash flow FY 2024 Key messages €m • OCF reflects the good underlying operating result despite nota
Slide 13: Economic net debt FY 2024 – Strong cash flows expand economic net cash position
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Economic net debt FY 2024 – Strong cash flows expand economic net cash position Reconciliation economic net cash YE 2023 to YE 2024 Key messages €m • Economic net cash up on the back of strong operat
Slide 14: Outlook for FY 2025 – Back to pre-crisis levels
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Outlook for FY 2025 – Back to pre-crisis levels Adjusted EBITDA Adjusted EBITDA Adjusted Net Income (ANI) Key messages €m By segment €m • Decrease of commodity price levels translates into 1.500 1.50
Slide 15: Agenda
Agenda 1. Review Full Year 2024 2. Review 1. FinancialFull Performance Year 2024 & Outlook 3. Appendix 2. Financial Performance & Outlook 3. Appendix 15 |
Slide 16: Commodity prices
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Commodity prices Gas prices1 CO2 prices2 Electricity prices3 Spark spreads4 €/MWh €/t CO2 €/MWh and £/MWh €/MWh and £/MWh 60 100 120 40 45 75 90 20 30 50 60 0 15 25 30 -20 Peak Power-GER Base Power-G
Slide 17: Operating indicators
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Operating indicators Greener Commodities Green & Flexible Generation Group carbon emissions Gas storage filling Production volume1 Scope-12 % TWh Mt CO2 -10% -5% -27% points 91% 81% 52.7 50.1 19.4 14
Slide 18: Uniper's decarbonization strategy and progress
Uniper’s decarbonization strategy and progress Group carbon emissions – Scope 1 and 2 1,3,4 Main achievements 2024 Mt CO2e • First CSRD-compliant sustainability report 30 published ahead of regulatory requirements 20 -55% Carbon • 27% lower scope 1 stationary combustion related 10 neutrality emissio
Slide 19: Electricity generation – Capacities
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Electricity generation – Capacities Dec. 31, 2024 Dec. 31, 2023 Dec. 31, 2024 Dec. 31, 2023 MW Pro-rata view Pro-rata view Accounting view Accounting view Hydro1 Subtotal 3,689 3,689 3,563 3,562 Germ
Slide 20: Electricity generation – Volumes
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Electricity generation – Volumes FY 2024 FY 2023 FY 2024 FY 2023 TWh Pro-rata view Pro-rata view Accounting view Accounting view Hydro Subtotal 13.71 12.35 13.70 12.02 Germany1 5.52 4.67 6.23 5.08 Sw
Slide 21: Outright power hedging in Germany and Nordic – Physical asset positions
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Outright power hedging in Germany and Nordic – Physical asset positions Hedged prices and hedge ratios Germany1 Hedged prices and hedge ratios Nordics1 TWh TWh 8 58 121 86 80 €/MWh 28 43 38 38 38 6 2
Slide 22: Adjusted EBITDA – Main earnings drivers by sector
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Adjusted EBITDA – Main earnings drivers by sector Green Generation Flexible Generation Greener Commodities • Hydro: Lower margin contribution in • Gas-fired Generation: Declining trading • Gas Midstr
Slide 23: Reconciliation of income/loss before financial results & taxes to Adjusted EBIT/DA
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Reconciliation of income/loss before financial results & taxes to Adjusted EBIT/DA €m FY 2024 FY 2023 Income / loss before financial results and taxes 1,348 6,667 Net income / loss from equity invest
Slide 24: Reconciliation of Adjusted EBITDA to Adjusted Net Income (ANI)
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Reconciliation of Adjusted EBITDA to Adjusted Net Income (ANI) €m FY 2024 FY 2023 Adjusted EBITDA 2,612 7,164 Economic depreciation and amortization charges / reversals -611 -797 Adjusted EBIT 2,001
Slide 25: Cash-effective investments
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Cash-effective investments €m FY 2024 FY 2023 Green Generation 191 145 Flexible Generation 355 295 Greener Commodities 129 126 Administration / Consolidation 35 22 Total 710 587 thereof Growth 316 19
Slide 26: Economic net debt
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Economic net debt €m Dec. 31, 2024 Dec. 31, 2023 Financial liabilities and liabilities from leases (+) 1,899 1,846 Commercial paper (+) 328 434 Liabilities to banks (+) 46 5 Lease liabilities (+) 860
Slide 27: Consolidated balance sheet (1/2) – Assets
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Consolidated balance sheet (1/2) – Assets €m Dec. 31, 2024 Dec. 31, 2023 Intangible assets 692 677 Property, plant and equipment and right-of-use assets 6,825 7,462 Companies accounted for under the
Slide 28: Consolidated balance sheet (2/2) – Equity & liabilities
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Consolidated balance sheet (2/2) – Equity & liabilities €m Dec. 31, 2024 Dec. 31, 2023 Capital stock 416 416 Additional paid-in capital 8,944 8,944 Retained earnings 1,765 1,668 Accumulated other com
Slide 29: Consolidated statement of cash flows (1/2)
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Consolidated statement of cash flows (1/2) €m FY 2024 FY 2023 Net income/loss 221 6,336 Income/loss from discontinued operations – – Depreciation, amortization and impairment of intangible assets, of
Slide 30: Consolidated statement of cash flows (2/2)
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Consolidated statement of cash flows (2/2) €m FY 2024 FY 2023 Proceeds from disposal 3 312 Purchases of investments -710 -587 Proceeds from disposal of securities (> 3 months) and of financial receiv
Slide 31: Financial calendar & further information
Financial calendar & further information May 6, 2025 Quarterly Statement: January - March 2025 May 8, 2025 2025 Annual General Meeting August 7, 2025 Half-Year Interim Report: January - June 2025 November 4, 2025 Quarterly Statement: January - September 2025 Visit us for more information 31 |
Slide 32: Contact your Investor Relations Team
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb 2025 Contact your Investor Relations Team Sebastian Veit Sabine Burkhardt Peter Wirtz Eva Götze Silvia Spisla Head of Investor Relations (EVP) Assistant Investor Relations Manager Investor Relations Manag
Slide 33: Disclaimer
Review Full Year 2024 | Financial Performance & Outlook | Appendix FY 2024 Presentation, 25 Feb.2025 Disclaimer This document and the presentation to which it relates contains information relating to Uniper SE, ("Uniper" or the "Company") that must not be relied upon for any purpose and may not be r