- Q1 adjusted EBITDA €407m and adjusted net income €231m.
- Operating cash flow €1,588m and economic net cash position €4,394m.
- Segment adjusted EBITDA: Green Generation €250m, Flexible Generation €156m, Greener Commodities €66m.
- Uniper reaffirms 2026 guidance: adjusted EBITDA €1.0–1.3bn and adjusted net income €350–600m.
Financial results Q1 2026
Adjusted EBITDA €407m and adjusted net income €231m, compared with −€139m and −€143m in Q1 2025; operating cash flow €1,588m and economic net cash position €4,394m.
Segment performance
Green Generation adjusted EBITDA €250m (Q1 2025: €246m), aided by higher prices in parts of Sweden due to lower wind and dry weather, partly offset by the unscheduled Oskarshamn 3 outage and reduced hydropower water flow in Germany; Flexible Generation €156m (Q1 2025: €161m), supported by higher UK capacity market income despite a smaller portfolio and lower output; Greener Commodities €66m (Q1 2025: −€492m), driven mainly by the gas business and the absence in 2026 of a prior multi‑year optimization-related adverse effect.
Outlook and risk context
Uniper affirms its 2026 guidance of adjusted EBITDA €1.0–1.3bn and adjusted net income €350–600m, citing systematic risk mitigation and continued operating stability despite high energy‑market price volatility.
