Uniper looks back on successful first year on stock market
DGAP-News: Uniper SE / Key word(s): IPO
Today Uniper looks back on its first year as a publically listed company, during which its stock price and market capitalization rose by more than 100 percent. On September 12, 2016, Uniper had an opening quote of EUR10.015 in the Frankfurt Stock Exchange's Prime Standard segment. Since then, the stock has consistently increased in value, outperforming its indices by a wide margin: the MDAX rose by 19 percent over the same period, the Euro Stoxx Utilities sector index by 23 percent. Uniper stock closed yesterday at EUR22.145, giving the company a market capitalization of EUR8.1 billion.
CEO Klaus Schäfer says: "All Uniper employees share in the success of our first year on the stock market. We know from many conversations with our investors that they have a growing appreciation for Uniper. First, because they understand our business model better. Second, because we deliver on our promises, despite a persistently challenging market environment. We intend to keep on doing precisely that, with regard to both our projects and our financial targets."
In its first year on the stock market, Uniper delivered a solid operating performance and implemented numerous measures to strengthen its financial profile and make itself competitive for the long term. The company's ambitious action plan aims to strengthen its balance sheet and cash flow.
CFO Christopher Delbrück says: "By rapidly implementing our action plan we've substantially improved our cash and cost situation. Our economic debt is about one third lower than at the start of 2016. We've significantly reduced our controllable costs as well. This will enable us to generate free cash flow on a consistent basis and to create sustainable value for our shareholders."
Uniper became operationally separate from the E.ON Group on January 1, 2016. Uniper's stock-market listing last September was the key milestone on its road to independence. Just three months later, on December 19, Uniper qualified for inclusion in the MDAX, Germany's leading index of mid-cap stocks. Uniper's main operations include power generation in Europe and Russia and global energy trading. The company is active in more than 40 countries and has around 13,000 employees.
This press release may contain forward-looking statements based on current assumptions and forecasts made by Uniper SE management and other information currently available to Uniper. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Uniper SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.
|Phone:||+49 211 73275 0|
|Fax:||+49 211 4579 5 01|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|