DGAP-Adhoc: Uniper SE: further delay in commissioning of Datteln 4, business performance in the first quarter of 2018

Commissioning of Datteln 4 expected in summer 2020

Nevertheless, dividend forecast confirmed through 2020

Full-year 2018 earnings forecast affirmed despite moderate winter quarter 2018

The first reliable findings from the analysis of the extent and causes of the damage to the boiler of Datteln 4 power plant, which is currently under construction, indicate that it is necessary to replace the boiler walls. This will further delay the plant's planned commissioning, which is now expected to take place presumably in summer 2020.

This delay made it necessary for Uniper to record an impairment charge in the amount of approx. EUR270 million on Datteln 4.

Despite this item, Uniper SE recorded positive net income pursuant to IFRS for the first quarter of 2018. Uniper's adjusted EBIT for the first quarter of 2018 totaled EUR350 million (previous year: EUR514 million). The decline relative to the previous year is in line with expectations and is mainly attributable to previous-year items (disposals, power-plant closures, and other non-recurring effects) as well as current-year earnings delays. Therefore, it does not affect Uniper's forecast for the full year. Uniper recorded adjusted funds from operations in the amount of EUR562 million for the first quarter of 2018.

For the full year 2018, Uniper SE continues to anticipate adjusted EBIT of EUR0.8 to EUR1.1 billion and adjusted funds from operations of EUR0.5 to EUR0.8 billion. It plans to propose a dividend payout of roughly EUR310 for the 2018 financial year.

Despite the developments at the Datteln 4 new-build project, Uniper reaffirms its expectation to achieve average dividend growth of 25% per year for the 2016 to 2020 financial years.

Financial Indicators

Explanations on these financial indicators are available in the 2017 Uniper SE Annual Report (see the Glossary of Financial Terms, starting on page 238), which is published on the company's website at the link below:

https://ir.uniper.energy/websites/uniper/English/3200/berichte.html