Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Uniper : No surprises in the earnings release but confirmation of closer ties

>First joint communication exercise expected at the start of December - At its 9M 2020 earnings release, Uniper gave a recap on the outlook for the year end and the ongoing developments with its majority shareholder Fortum. We adjusted our model to reflect recent market trends in our estimates and increased the probability of a consolidation of Uniper by Fortum from 50/50 to 75/25 given the two groups’ decision to present a joint development plan at Fortum’s next inve...
Underlying
Uniper SE

Uniper SE is a Germany-based energy generation and energy trading company. The Company operates through three segments: European Generation, Global Commodities and International Power Generation. The European Generation segment generates power and owns coal, gas, oil and combined gas and steam power plants, hydroelectric power plants, nuclear power stations in Sweden, a biomass plant in France, as well as solar and wind power facilities; the Global Commodities segment bundles the Company's energy trading activities, as well as its gas storage and supply business, and the International Power Generation segment comprises equity investments in energy generation companies in the Russian Federation and Brazil.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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