German energy giant Uniper raised on Wednesday its earnings outlook for 2024 after reporting stronger-than-expected financial figures for the first half of the year. Uniper, which the German government had to bail out at the start of the energy crisis in Europe in 2022, said today that it anticipates stronger than previously expected results for the first half of the financial year 2024.
Uniper is slated to publish the detailed results for the first six months of the financial year 2024 on August 8, 2024. Germany had to nationalize Uniper in 2022 to avoid its collapse amid soaring gas prices and a lack of Russian supply in the wake of the Ukraine invasion and the EU sanction barrage. The total bill for the nationalization came in at $53 billion. To replace lost Russian gas volumes, European buyers switched to U.S. LNG, with exports of the commodity from the U.S.