The German energy firm logged an adjusted EBITDA of €379m ($442.8m) in H1 2025, far below the €1.74bn ($2.03bn) recorded 12 months prior. Similarly, its net income was down from €1.14bn ($1.33bn) to €135m ($158m).
Despite the narrowed earnings, the company has reaffirmed its 2025 financial forecast. It expects an EBITDA between €1bn ($1.17bn) and €1.3bn ($1.52bn) and net income of €350–€550m ($409–$643m).
Facing these headwinds, Uniper has “finetuned” its transformation strategy, reducing its projected investments through 2030 to around €5bn ($5.8bn). This follows a previous delay to its €8bn ($9.35bn) green energy investment target, originally set for 2030.
Those investments will primarily be made in its renewable and gas power plants segments. The firm plans to expand its gas and LNG portfolio to up to 300TWh in the long term.
Despite big ambitions to build hydrogen-ready gas power plants in Germany, CEO Michael Lewis said delays in a government-led auction process push any potential project revenues until “later years.”
The German power plant strategy was set to hold tenders for 7.5GW of power plants by early 2025, but with a change of government, no announcements have come.
Additionally, due to slow development of the hydrogen market, Lewis said the company has decided to “sharpen the focus” of its portfolio through 2030 onto activities and projects that generate “reliable earning streams.”
Uniper plans to reduce its workforce plan by 400 position. It said a “significant portion” of those will be achieved through attrition and unfilled vacancies.
Uniper embraces realism in Germany hydrogen ramp-up
Uniper’s Susanne Thöle has said “economically viable” and “technology-neutral decarbonisation” pathways will be essential to realistically achieve Germany’s climate targets.
Speaking to H2 View, the energy firm’s Director of Hydrogen confirmed that Uniper’s developments will align closely with the incoming Merz government’s more pragmatic and inclusive approach to hydrogen policy.
“For us, carbon management and hydrogen complement each other – they are not mutually exclusive,” Thöle said.
“Consistent carbon management is essential for the ramp-up of blue hydrogen with carbon capture and, in the long term, green hydrogen. Germany must develop hydrogen and carbon capture and storage (CCS) in parallel to achieve its climate targets realistically…
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