‘Massive Scars’: Germany’s Uniper Posts Record 40 Billion Euro Net Loss
FRANKFURT/DUESSELDORF—Soon-to-be-nationalized gas importer Uniper reported a record 40 billion euro ($39.3 billion) net loss in the first nine months of this year, the biggest in German corporate history, after Russia stopped its supplies.
The loss further highlights how Russia’s decision to sever a decade-long supply relationship with Europe, most notably Germany, is impacting the continent’s energy sector, with Uniper the crisis’ biggest corporate casualty so far.
It also marks the biggest loss in German corporate history, according to Mark Spoerer, who holds the chair for economic and social history at the University of Regensburg, even dwarfing more recent outliers such as the 25 billion euros Deutsche Telekom disclosed for 2002….