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Uniper warns of Brexit risks, could hit earnings

Published 02/09/2016, 12:09
Updated 02/09/2016, 12:20
© Reuters. A logo of the German energy utility company Uniper SE is pictured at their headquarters in Duesseldorf

FRANKFURT (Reuters) - Uniper, the power generation and energy trading unit to be spun off from E.ON later this month, has warned of a serious blow to business should Britain leave the European Union, in what are the group's strongest comments on the matter so far.

In its listing prospectus, published on Friday ahead of a planned Sept. 12 trading start, Uniper said that its large exposure to Britain, where it owns 7 gigawatt of mostly gas and coal-based generation capacity, carried substantial risks.

© Reuters. A logo of the German energy utility company Uniper SE is pictured at their headquarters in Duesseldorf

"The withdrawal of the United Kingdom from the EU could affect the Uniper Group in a number of different ways and could have a material adverse effect on the Uniper Group's United Kingdom and overall business, prospects, financial condition and results of operation," it said.

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