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🇩🇪 One of the biggest victims of "Nord Stream" sabotage is the German energy company "Uniper", which reported a net loss of 40 billion euros, among the largest in the history of the German company and
announced the complete cessation of gas deliveries from Russia pic.twitter.com/lJKk3czmh6— J. Malkova🇷🇺♥️ (@CanadianKitty1) November 3, 2022
Always remember: any amount of money is a cheap price to pay for ensuring the rights of child trannies in the Donbass.
Soon-to-be-nationalised gas importer Uniper reported a record 40 billion euro ($39.3 billion) net loss in the first nine months of this year, the biggest in German corporate history, after Russia stopped its supplies.
The loss further highlights how Russia’s decision to sever a decade-long supply relationship with Europe, most notably Germany, is impacting the continent’s energy sector, with Uniper the crisis’ biggest corporate casualty so far.
It also marks the biggest loss in German corporate history, according to Mark Spoerer, who holds the chair for economic and social history at the University of Regensburg, even dwarfing more recent outliers such as the 25 billion euros Deutsche Telekom disclosed for 2002.
Since the start of the year shares in Uniper have lost 93% of their value, giving it a current market value of 1.1 billion euros, down from 15.2 billion euros on Jan. 3.
All this for a lost war lmaoo
— Kostasゼータ (@9Kostas2) November 3, 2022
“Our half-year numbers already indicated that this has left massive scars in our financial results,” Chief Financial Officer Tiina Tuomela said, adding that an agreed stabilisation package that will see Germany take over Uniper was currently being finalised.
Uniper said the net loss factored in 10 billion euros of realised losses the company incurred by replacing Russian gas volumes on the spot market at much higher prices.
This caused daily losses of more than 100 million euros when gas prices spiked over the summer, a number has come down to less than 10 million per day at the end of October as markets have cooled off, Uniper said.
The net loss also includes 31 billion euros of future losses related to the same issue.
Shares in the company were down 3%.
Tuomela said talks were now focused on how to replace a planned gas levy, due to come into effect on Oct. 1 but scrapped at the last minute, with an instrument that will effectively pass on the massive losses to Uniper’s future owner – the German government.
Uniper has threatened legal action against its former main supplier Gazprom, and is weighing proceedings before a Swedish arbitration court to claim billions of euros in compensation.
German industry is basically doomed. Their entire economy was built around the promise of cheap energy.
But hey – I guess this is good for the Great Reset, right? Everyone has to be poor so they will eat bugs, I guess.
I’m sure Klaus Schwab did the math on that, and collapsing the entire European economy doesn’t mean that China takes over everything.
The cost of “freedom” of the Ukraine. It is okay tax payers will bear the burden
— Fateh Bergadi (@fatehezio) November 3, 2022
German tax payers will feel this… it’s not even their war.
— ErikaStretch (@ErikaStretch) November 3, 2022
