Uniper

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Uniper SE

logo
legal form Societas Europaea
ISIN DE000UNSE018
founding 2016
Seat Dusseldorf , GermanyGermanyGermany 
management
  • Andreas Schierenbeck, CEO
    Sascha Bibert CFO
Number of employees around 11,500
sales 65.8 billion euros (2019)
Branch Energy supply company
Website www.uniper.energy
Status: July 2019

The Uniper SE [ juːnipɚ ] is a listed company that by splitting the conventional power generation sectors of water, coal and gas, as well as energy trading and energy storage from E.ON has emerged. Uniper has been part of the Finnish energy group Fortum since March 2020 . Uniper has a stake in three nuclear power plants located in Finland and Sweden.

The company employs around 11,500 people in over 40 countries. The company's headquarters are in Düsseldorf. Around a third of the employees work in Germany.

The name Uniper is a portmanteau of "unique" (singular) and "Performance" ( performance ). The supervisory board chose the name suggestion of a long-term employee from around 3,000 submitted ideas.

history

As part of complex reorganization and spin-off measures at E.ON, which took place mainly during 2015 and 2016, Uniper SE (SE = Societas Europaea) was created in April 2016 as an internal company. Below the Uniper SE were Uniper Beteiligungs GmbH and the Uniper Holding GmbH arranged the latter as the holding company for the operating companies, in particular the Uniper Kraftwerke GmbH . In June 2016, the general meetings of E.ON and Uniper decided to spin off Uniper from E.ON. The commercial spin-off took place through a retroactive transfer of the Uniper business to 195 million new shares created by increasing the real capital . It was intended to be the Uniper the first half of 2017 by E.ON deconsolidated .

The IPO of Uniper SE took place on 12 September 2016. The stock was one day in the DAX included. The company starts with around 15,000 employees. The Uniper share has been listed in the MDAX since December 19, 2016 . After its first year on the stock exchange, the energy company saw its share price and market capitalization double.

In November 2017, Uniper completed the sale of its stake in the Russian gas field Yushno-Russkoye. The Uniper stake of 25 percent was sold to the Austrian OMV Group for EUR 1,749 million plus the transferred cash.

On November 7, 2017, the Finnish company Fortum submitted a takeover offer for shares in Uniper. As a result, E.ON decided on January 8, 2018 to accept the offer for its remaining shares in Uniper. In addition to the 46.65% from E.ON, another 0.47% went to Fortum for 22 euros per share. In the meantime, the share price rose to a high of EUR 26 after the share started 2017 at a price of EUR 13.12. The takeover of a total of 47.35% by Fortum was completed on June 26, 2018 after various authorities had given their approval.

Fortum and Uniper jointly operate the Oskarshamn nuclear power plant and both have a stake in the Forsmark nuclear power plant . Both operate hydropower plants in Sweden .

After pressure from activist investor Elliott , Uniper will have the Annual General Meeting on May 22, 2019 vote on the preparation of a domination agreement. The contract is intended to give Fortum control over Uniper.

On July 4, 2019, Uniper and Energetický a Průmyslový Holding (EPH) signed the agreements on the sale of Uniper's activities in France . The sale comprises Uniper's French sales business, two gas-fired power plants in Saint-Avold (Lorraine), two hard coal - fired power plants in Saint-Avold and Gardanne (Provence), the biomass power plant "Provence 4 Biomasse" in Gardanne, and wind and solar power plants .

organs

The organs of Uniper SE are the management board, the supervisory board and the general meeting. The chairman of the board is Andreas Schierenbeck. The CFO is Sascha Bibert. Keith Martin is the Chief Commercial Officer (CCO) responsible for commercial activities and Eckhardt Rümmler is the Chief Operating Officer (COO).

The supervisory board consists of twelve members. Six members were elected by the Annual General Meeting, six more by the employees in an election procedure defined by Uniper. The chairman of the supervisory board is Klaus-Dieter Maubach . Markus Rauramo has been the deputy chairman of the supervisory board for the shareholders since July 30, 2018. On the part of the employee representatives, Harald Seegatz is deputy chairman.

Shareholder structure

In April 2016 E.ON held 47% of the shares through E.on Beteiligungen GmbH , 34% were owned by institutional investors at the same time, and 11% were held by private investors. The holders of the remaining 8% were not identified.

E.ON announced on January 8, 2018 that it would offer its 46.65% stake in Uniper SE to the Finnish energy group Fortum . In addition to the E.ON share package, Fortum was offered a further 0.47% of the shares as part of the handover offer. After receiving official approvals, Fortum took over this stake on June 26, 2018. In January 2019, Fortum announced that it held 49.99% of the shares at the end of 2018.

proportion of Shareholders (as of August 17, 2020)
75.01% Republic of Finland (via Fortum )
24.99% Free float

On October 8, 2019, Fortum announced that it had reached an agreement with Elliott Management and Knight Vinke Energy Advisors to acquire a further 20.5% of the shares. Following official approval , the transaction with a volume of EUR 2.3 billion was completed in March 2020.

The company's share capital is divided into around 366 million  shares . Fortum's shares are regarded as permanent holdings, the remaining shares are considered to be free float . For shareholders with reportable shares see table:

Power generation

With 34 GW generation capacity and EUR 1.6 billion EBITDA, Uniper is one of the largest electricity producers in Europe. The power plants of the energy group are based on an organizational fleet structure according to the energy generation sectors of water, coal, gas and nuclear energy. In addition to Germany, the core markets are Great Britain, Sweden and the Benelux countries . These locations are supplemented by a gas power plant in Hungary . In Russia there are five Uniper power plants in the industrial regions of Central Russia, Urals and Western Siberia. These cover 5 percent of the nation's electricity needs.

Global energy trading

Uniper's financial activities are bundled in the subsidiary of Uniper Global Commodities SE (UGC). The trading activities relate to the electricity and gas portfolio as well as to the gas storage and gas transport infrastructure of Uniper. To this end, UGC trades on the spot and futures market for gas, coal, freight, oil, liquefied natural gas (LNG) and emission rights on various exchanges and on the over-the-counter market. According to the 2017 annual report, the energy company aimed to expand trading activities in the North American and Asian markets.

Energy storage

As a subsidiary of the Uniper Group, Uniper Energy Storage GmbH is a registered gas storage company that centralizes Uniper's gas storage activities across Europe. It operates gas storage facilities with around 9 billion m 3 of working gas at locations in Germany, Austria and Great Britain. According to media reports, the energy company intends to make a contribution to the energy transition with the gas power plants. The Uniper Energy Storage GmbH aims to implement from an industrial battery solutions in the future and the storage of electricity using.

With the power-to-gas plants WindGas Falkenhagen and WindGas Hamburg, renewable energy in the form of electricity, gas or heat is also temporarily stored. The wind energy obtained is converted into hydrogen by electrolysis and fed into the local gas network. In May 2018, the plant in Falkenhagen was expanded with a methanation plant in order to enable wider conventional use.

Operated power plants and plants

A list of the power plants operated in Germany can be found in the article Uniper Kraftwerke .

Uniper also operates other power plants in several European countries:

Location Energy source power Remarks
Connah's Quay natural gas 1,380 MW
Cottam natural gas 395 MW
Isle of Grain natural gas 1,275 MW
Enfield natural gas 408 MW
Killingholme natural gas 600 MW
Taylors Lane ( Willesden ) natural gas 132 MW
Ratcliffe-on-Soar Hard coal 2,000 MW
Oskarshamn nuclear power plant Nuclear energy 2,308 MW 54.5% participation
Ringhals nuclear power plant Nuclear energy 3,820 MW 29.6% participation
Forsmark nuclear power plant Nuclear energy 3,157 MW 8.5% participation
Maasvlakte Hard coal 2,180 MW
Rotterdam natural gas 269 ​​MW
The hague natural gas 112 MW
Suffer natural gas 83 MW
Maasvlakte natural gas 78 MW
Vilvoorde natural gas 265 MW
Gonyu natural gas 428 MW

In addition to the thermal power plants listed here, Uniper in Sweden owns over 70 hydropower plants with a capacity of 1,553 MW.

Web links

Individual evidence

  1. ↑ management team. Retrieved May 12, 2020 .
  2. ↑ a b c Our profile. Retrieved July 25, 2019 .
  3. ↑ Annual Report 2019. Uniper SE, accessed on July 5, 2020 .
  4. ↑ Joint spin-off report of the management boards of E.ON SE, Düsseldorf, and Uniper SE, Düsseldorf on the spin-off of a majority stake in the Uniper Group, ( Memento of the original from June 27, 2016 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. P. 8, no. 1 @1@ 2Template: Webachiv / IABot / www.eon.com
  5. ↑ a b Fortum at Uniper on target - hedge fund shares taken over. In: Finanznachrichten.de. March 26, 2020, accessed March 26, 2020 .
  6. ↑ Energy Services - International Locations | Uniper. Retrieved May 16, 2018 .
  7. ↑ a b Michael Bachmüller / Benedikt Müller: The four euro argument . Ed .: Süddeutsche Zeitung. 2017, p. 20 .
  8. ↑ The new E.on company is called Uniper Article from April 27, 2015 on Spiegel online
  9. ↑ Daniel Wetzel: E.on spun off power plant division under the name "Uniper" . In: THE WORLD . April 27, 2015 ( welt.de [accessed on May 16, 2018]).
  10. ↑ Entry in the commercial register of the AG Düsseldorf from April 14, 2016 under no. HRB 77425. On: company register
  11. ↑ Splitting report ( Memento of June 27, 2016 in the Internet Archive ) p. 11, diagram of the ownership structure
  12. ↑ Demerger Report ( Memento of June 27, 2016 in the Internet Archive ) p. 184, List of shareholdingsx
  13. ↑ Splitting report ( Memento of June 27, 2016 in the Internet Archive ) p. 47, no. 3.4.6
  14. ↑ Securities prospectus , section 4.2
  15. ↑ Splitting report ( Memento of June 27, 2016 in the Internet Archive ) p. 115, no. 8.1.2
  16. ↑ E.ON spin-off Uniper - Opportunities and Risks of the Power Plant Subsidiary - Source For Alpha . In: Source For Alpha . September 15, 2016 ( source-for-alpha.de [accessed on May 16, 2018]).
  17. ↑ Unusual - Eon subsidiary Uniper went public for one day in the Dax , Tagesspiegel, September 12, 2016.
  18. ↑ Eon moves to Essen - the new company is called Uniper. April 27, 2015, accessed April 28, 2015 .
  19. ↑ a b c Important events in the 2017 financial year, In: Uniper SE Annual Report 2017, business results, accessed on May 16, 2018.
  20. ↑ Maximilian Völkl: Uniper: Fortum takeover failed - what now? In: The shareholder. Retrieved February 7, 2018 .
  21. ↑ a b Michael Bauchmüller / Benedikt Müller: The four-euro argument . Ed .: Süddeutsche Zeitung. S. 20 .
  22. ↑ a b Uniper statement: Fortum completes acquisition of approximately 47.35 percent in Uniper . ( finanznachrichten.de [accessed on August 14, 2018]).
  23. ↑ Uniper responds to investor Elliott's request. Retrieved April 18, 2019 .
  24. ↑ Uniper signs agreements to sell the generation business and sales activities in France to EPH. Retrieved July 24, 2019 .
  25. ↑ a b Uniper SE: New CEO Andreas Schierenbeck and new CFO Sascha Bibert take up their positions. Retrieved July 24, 2019 .
  26. ↑ Uniper SE - Energy has a new name - Supervisory Board. Retrieved May 12, 2020 .
  27. ↑ Shareholder structure on the Uniper website
  28. ↑ Pekka Lundmark: Fortum boss advertises Uniper shareholders . ( handelsblatt.com [accessed on May 16, 2018]).
  29. ↑ a b Important events in the 2017 financial year. In: Uniper SE Annual Report 2017, business results, accessed on May 16, 2018, p. 2 f.
  30. ↑ Annual Report 2018. Fortum, accessed on February 6, 2019 .
  31. ^ Dpa-AFX: DGAP voting rights: Uniper SE. In: finanznachrichten.de. August 18, 2020, accessed on August 18, 2020 .
  32. ↑ BaFin - Significant shares of voting rights according to Sections 33, 38 and 39 of the Securities Trading Act (WpHG). Retrieved July 5, 2020 .
  33. ↑ Fortum takes over another 20 percent of Uniper for 2.3 billion euros. Retrieved October 8, 2019 .
  34. ↑ Uniper SE - basic data. Retrieved December 20, 2018 .
  35. ↑ Uniper SE - shareholder structure. Retrieved December 20, 2018 .
  36. ↑ Listicle - The largest electricity supplier in Europe . In: energie-winde.de . ( energie-winde.de [accessed on May 16, 2018]).
  37. ↑ Power plant park | Uniper. Retrieved May 16, 2018 .
  38. ↑ Uniper balance sheet, profit and sales | Uniper Annual Report | UNSE01. Retrieved May 16, 2018 .
  39. ↑ Key figures at a glance, In: Uniper SE Annual Report 2017, Business Results, accessed on May 16, 2018.
  40. ↑ Our locations. Retrieved July 24, 2019 .
  41. ↑ Uniper: Eon subsidiary shares in demand because of takeover rumors - manager magazin . In: manager magazin . ( manager-magazin.de [accessed on May 16, 2018]).
  42. ↑ a b Power plant park | Uniper. Retrieved May 16, 2018 .
  43. ↑ Energy trading | Uniper. Retrieved May 16, 2018 .
  44. ↑ Uniper SE Annual Report 2017, business results, accessed on May 16, 2018, p. 111.
  45. ↑ Energy Storage | Uniper. Retrieved May 16, 2018 .
  46. ↑ Energy Storage - About us | Uniper. Retrieved May 16, 2018 .
  47. ↑ List of Assets 2016. (PDF) Uniper, December 2016, accessed on February 7, 2018 (English).