Russia places Unipro under state administration

• Unipro has already been deconsolidated from an accounting perspective since the end of 2022

• Approval for sale has not yet been granted

26 April 2023

Yesterday, Russia published a presidential decree allowing the authorities to introduce temporary administration for assets owned by certain foreign companies in Russia, apparently including Uniper. Uniper is currently reviewing the legal situation.

In Uniper's case, this concerns a shareholding of 83.73 per cent in Unipro, which is listed in Russia and has over 4,000 employees.

Uniper had already decided to sell this stake in summer 2021 and informed the Russian government about it in autumn 2021.

A contract with a Russian buyer was signed in September 2022. The intention to sell was submitted to the Russian authorities for approval, but this has not yet been granted.

In addition, Uniper has de facto no longer been able to exercise operational control over Unipro since the end of 2022. In balance sheet terms, Unipro has been deconsolidated and practically completely written off since the end of 2022.

About Uniper
Dusseldorf-based Uniper is an international energy company with activities in more than 40 countries. With around 7,000 employees, it makes an important contribution to security of supply in Europe.

Uniper's core businesses are power generation in Europe, global energy trading, and a broad gas portfolio. Uniper procures gas - including liquefied natural gas (LNG) - and other energy sources on global markets.

The company owns and operates gas storage facilities with a capacity of more than 7 billion cubic meters. Uniper plans for its 22.5 GW of installed power-generating capacity in Europe to be carbon-neutral by 2035.

The company already ranks among Europe's largest operators of hydroelectric plants and intends to further expand solar and wind energy, which are essential for a more sustainable and autonomous future.

Uniper is a reliable partner for communities, municipal utilities, and industrial enterprises for planning and implementing innovative, lower-carbon solutions on their decarbonization journey.

Uniper is a hydrogen pioneer, is active worldwide along the entire hydrogen value chain, and is conducting projects to make hydrogen a mainstay of the energy supply.

Uniper - press release