Slide 1: H1 2022 Interim Results
H1 2022 Interim Results Tiina Tuomela – CFO 17 August 2022
Slide 2: Highlights
Highlights H1 2022 Results and Outlook Appendix
Slide 3: Highlights – Russian gas cuts as major challenge
Highlights – Russian gas cuts as major challenge € Financial performance & Outlook Solid operating performance in 2nd quarter curbed by Russian gas curtailment Adjusted EBIT isolated Q2 2022 €265m (Q2 2021 €-151m) Uniper stabilized as Half-year result significantly below prior year – Adjusted EBIT H
Slide 4: Gas markets – Europe under stress with lower supply and higher prices
Gas markets – Europe under stress with lower supply and higher prices Significant decrease in Russian pipeline gas Natural gas prices reaching all-time highs mcm €/MWh 1,200 280 900 210 600 140 300 70 0 0 Jul 21 Oct 21 Jan 22 Apr 22 Jul 22 Jul 21 Nov 21 Mar 22 Jul 22 Production1 LNG Other pipeline R
Slide 5: Financial stabilization package – Execution ongoing
Financial stabilization package – Execution ongoing Key pillars of Uniper’s support package Key messages Cost pass-through mechanism mitigates 90% of curtailment- Cost KfW credit related losses between October 1, 2022 and April 1, 2024 pass-through facility 90% cost pass-through € Increased from Net
Slide 6: H1 2022 Results and Outlook
Highlights H1 2022 Results and Outlook Appendix
Slide 7: Operating indicators – Increased Russian Power Generation
Operating indicators – Increased Russian Power Generation Global Commodities European Generation Russian Power Gen. Carbon emissions Gas storage filling (%)1 Production volume (TWh)2 Production volume (TWh)2 Scope-1 (m tons)3 -18% +1% +17% +12% 31.5 31.8 66% 48% 25.6 24.54 27.44 21.9 H1 2021 H1 2022
Slide 8: Key financials H1 2022 – Driven by high commodity prices and gas curtailments
Key financials H1 2022 – Driven by high commodity prices and gas curtailments Adjusted EBIT Adjusted EBITDA Operating Cash Flow (OCF) €m €m €m 346 900 580 -564 -136 -2,227 H1 2021 H1 2022 H1 2021 H1 2022 H1 2021 H1 2022 Adjusted Net Income (ANI) Net Income1 Economic Net Debt (END) €m €m €m -67 485 2
Slide 9: Adjusted EBIT – Curtailment losses and overall lower performance in European business
Adjusted EBIT – Curtailment losses and overall lower performance in European business Reconciliation Adj. EBIT H1 2021 to H1 2022 €m Adj. EBIT H1 2021 580 Gas curtailments Carbon phasing European fossil generation Outright power prices & volumes Commodity Gas (other optimization) International Commo
Slide 10: Adjusted Net Income to IFRS Net Income
Adjusted Net Income to IFRS Net Income Reconciliation Adj. Net Income H1 2022 to Net Income1 H1 2022 €bn -0.4 PY: 485 -6.5 -12.3 -2.7 2.1 PY: -67 -4.9 Adj. Net Income Anticipation gas Impairments (Nord Fair-value Other Net Income 1 H1 2022 curtailment losses Stream 2, Russian measurement (mainly non
Slide 11: Operating Cash flow – Impacted by liquidity measures at year-end 2021
Operating Cash flow – Impacted by liquidity measures at year-end 2021 Reconciliation Adj. EBIT H1 2022 to Operating Cash Flow H1 2022 €m -564 -136 427 PY: 900 -12 PY: 580 -252 -810 -2,016 PY: 451 -2,227 PY: 346 -806 -55 -156 Adj. EBIT Depreciation Adj. EBITDA Non-cash Provision Changes in Other (inc
Slide 12: Economic Net Debt – Driven by OCF development
Economic Net Debt – Driven by OCF development Reconciliation of Economic Net Debt YE 2021 to H1 2022 1,333 €m 258 466 204 NFP Pensions ARO 2,227 1,228 -104 -1,969 104 1,065 -599 2,057 NFP Pensions ARO 324 -100 Economic Net Debt Divest OCF Investments Other NFP 1 Pensions ARO Economic Net Debt YE 202
Slide 13: Looking forward on remainder of 2022 and beyond
Looking forward on remainder of 2022 and beyond Adj. EBIT trend – Break-even ambition for 2024 Outlook for 2022 to 2024 2022 Highly volatile environment in context of gas curtailments complicates outlook for FY2022, substantial negative result expected 2023 Decrease of curtailment-related effects le
Slide 14: Appendix
Highlights H1 2022 Results and Outlook Appendix
Slide 15: Commodity prices – European commodity prices rallying due to Russian gas curtailment
Commodity prices – European commodity prices rallying due to Russian gas curtailment Gas prices1 Carbon prices2 Electricity prices3 Dark & spark spreads4 €/MWh €/t CO2 €/MWh €/MWh 240 125 540 300 CDS Base Germany Nordic CSS Base 200 450 240 CSS Peak 100 160 360 180 75 120 270 120 50 80 180 60 25 40
Slide 16: Outright power hedging in Germany and Nordic – Physical asset positions
Outright power hedging in Germany and Nordic – Physical asset positions Hedged prices and hedge ratios Germany1 Hedged prices and hedge ratios Nordic1, 2 €/MWh €/MWh 15 13 41 64 20 26 30 30 TWh TWh 8 24 6 18 70% 4 12 2 6 55% 85% 90% 90% 25% 0 0 H1 20223 2022 2023 2024 H1 20223 2022 2023 2024 (front
Slide 17: Contractual power position – Impact from proxy hedges
Contractual power position – Impact from proxy hedges Nordic/German power price exposure related to Key messages contractual positions1 Uniper has a significant Nordic outright contractual power Proxy hedges TWh 0.6 position related to a compensation for earlier shut-downs Hedges Nordic of nuclear a
Slide 18: Generation capacity
Generation capacity In MW 1 30 Jun 2022 31 Dec 2021 Gas Russia 7,156 7,139 United Kingdom 4,190 4,180 Germany 2,912 2,912 Netherlands 525 525 Hungary 428 428 Hard coal Germany 3,197 3,197 United Kingdom 2,000 2,000 Netherlands 1,070 1,070 Lignite Russia 1,895 1,895 Hydro Germany 1,918 1,918 Sweden 1
Slide 19: Net electricity generation volumes
Net electricity generation volumes In TWh1 H1 2022 H1 2021 Gas Russia 20.6 19.1 United Kingdom 5.6 6.0 Germany 1.9 2.2 Netherlands 0.6 0.7 Hungary 1.3 1.0 Sweden 0.1 0.0 Hard coal Germany 5.0 3.6 United Kingdom 2.1 1.5 2 Netherlands 2.1 2.3 Lignite Russia 5.0 2.7 Germany3 – 1.1 4 Hydro Germany 2.3 2
Slide 20: Adjusted EBIT(DA) by sub-segment
Adjusted EBIT(DA) by sub-segment H1 2022 H1 2021 H1 2022 H1 2021 €m Adj. EBITDA Adj. EBITDA Adj. EBIT Adj. EBIT European Generation Subtotal 13 451 -217 272 Hydro 148 192 117 161 Nuclear 51 82 23 51 Fossil -150 203 -320 89 Other / Consolidation -36 -26 -38 -29 Global Commodities Subtotal -44 582 -17
Slide 21: Adjusted EBIT – Development by sub-segment
Adjusted EBIT – Development by sub-segment European Generation Global Commodities Russian Power Generation €m €m €m 82 501 272 -44 -28 -217 27 -174 193 -500 111 -408 -9 -202 H1 2021 Hydro Nuclear Fossil Other H1 2022 H1 2021 Gas Internat./ Power H1 2022 H1 2021 Russia H1 2022 Other Hydro: Negative
Slide 22: Reconciliation of income/loss before financial results & taxes
Reconciliation of income/loss before financial results & taxes €m H1 2022 H1 2021 Income / Loss before financial results and taxes -13,623 -252 Net income / loss from equity investments -1 8 EBIT -13,624 -243 Non-operating adjustments 13,060 823 Net book gains (-) / losses (+) -1 -12 Impact of deriv
Slide 23: Reconciliation of Adjusted EBIT to (Adjusted) Net Income
Reconciliation of Adjusted EBIT to (Adjusted) Net Income €m H1 2022 H1 2021 Adjusted EBIT -564 580 Economic interest result 144 82 Interest results for leasing -12 -10 Interest from financial assets / liabilities -49 42 Interest cost from provisions for pensions and similar obligations -6 -6 Accreti
Slide 24: Cash-effective investments
Cash-effective investments €m H1 2022 H1 2021 European Generation 135 262 Global Commodities 27 19 Russian Power Generation 27 54 Administration / Consolidation 15 7 Total 204 341 thereof Growth 39 186 thereof Maintenance and replacement 165 154 H1 2022 Presentation, 17 August 2022 24
Slide 25: Economic Net Debt
Economic Net Debt €m 30 Jun 2022 31 Dec 2021 Liquid funds (-) 3,072 2,966 Non-current securities (-) 95 111 Margining receivables (-) 7,590 7,866 Financial liabilities and liabilities from leases (+) 11,016 8,975 Net financial position 258 -1,969 Provisions for pensions and similar obligations (+) 4
Slide 26: Consolidated balance sheet (1/2) – Assets
Consolidated balance sheet (1/2) – Assets €m 30 Jun 2022 31 Dec 2021 Goodwill – 1,783 Intangible assets 701 708 Property, plant and equipment and right-of-use assets 10,477 10,055 Companies accounted for under the equity method 338 322 Other financial assets 1,060 859 Financial receivables and other
Slide 27: Consolidated balance sheet (2/2) – Equity & liabilities
Consolidated balance sheet (2/2) – Equity & liabilities €m 30 Jun 2022 31 Dec 2021 Capital stock 622 622 Additional paid-in capital 10,825 10,825 Retained earnings -13,095 -1,388 Accumulated other comprehensive income -3,386 -3,756 Equity attributable to shareholders of Uniper SE -5,034 6,303 Equity
Slide 28: Consolidated statement of cash flows (1/2)
Consolidated statement of cash flows (1/2) €m H1 2022 H1 2021 Net income / loss -12,418 -20 Depreciation, amortization and impairment of intangible assets, of property, plant and equipment, and of right- of-use assets 2,736 348 Changes in provisions 4,610 444 Changes in deferred taxes -2,206 -79 Oth
Slide 29: Consolidated statement of cash flows (2/2)
Consolidated statement of cash flows (2/2) €m H1 2022 H1 2021 Cash proceeds / payments arising from changes in capital structure1 -6 -2 Cash dividends paid to shareholders of Uniper SE -26 -501 Cash dividends paid to other shareholders – -15 Proceeds from new financial liabilities 3,795 2,053 Repaym
Slide 30: Financial calendar & further information
Financial calendar & further information Financial calendar 3 November 2022 Quarterly Statement January – September 2022 Stay informed about Uniper uniper.energy/investors
Slide 31: Uniper – Contact your Investor Relations team
Uniper – Contact your Investor Relations team Stefan Jost Adam Strzyz Christian Lösse Executive Vice President Head of Investor Relations (SVP) Manager Investor Relations Group Finance & Investor Relations +49 171 778 8215 +49 151 6772 5191 stefan.jost@uniper.energy adam.strzyz@uniper.energy christi
Slide 32: Disclaimer
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 redistributed, reproduced, published, or passed on to any other person or used in whole or in part for