Uniper reported on Tuesday that its adjusted net income for the first half of 2026 more than doubled compared to the same period a year earlier, as Germany moves forward with a sales process to privatize the energy giant it rescued during the 2022 energy crisis.

The Düsseldorf-based utility booked an adjusted net income of $448 million (€388 million) for the first six months of 2026, up from $156 million (€135 million) in January–June 2025. The company attributed the improvement to a strong performance in its gas business, which no longer weighed on earnings as it had in previous years.

"Uniper is now more resilient and robust in the face of outside influences than it was in the past," the company said in a statement.

Uniper reaffirmed the full-year core earnings forecast it had published in March 2026 and raised the lower end of its adjusted net income guidance range for the year. The improved results come as European gas markets have stabilized significantly since the volatility of 2022–2023, when the loss of Russian pipeline gas supply pushed prices to historic highs and forced governments across the continent to intervene in energy markets.

"We've further sharpened our portfolio and strategy and are well positioned to seize growth opportunities, enhance security of supply, and accelerate the transformation of Europe's energy system," said Uniper CEO Michael Lewis.

Analysts and investors are closely monitoring Uniper's financial results as Germany seeks to divest its approximately 99% stake in the company. The German government bailed out Uniper in 2022 through a multibillion-dollar nationalization that ranks among the largest corporate rescues in European history.

Berlin is weighing either an outright sale or an initial public offering for its 99% holding, the government indicated in May. Several parties have reportedly expressed interest in acquiring the utility in recent months, including Norway's Equinor, Canada's Brookfield Asset Management, EPH — controlled by Czech billionaire Daniel Křetínský — and Abu Dhabi's Taqa. The diversity of suitors — spanning national oil companies, infrastructure investors, and European utility operators — reflects the strategic value of large-scale gas trading and generation assets at a time when Europe continues to restructure its energy supply chains away from Russian dependence.

Uniper, one of Germany's largest energy companies, came to the brink of collapse in 2022 when the cutoff of Russian natural gas supplies during the energy crisis triggered massive losses. The German government intervened to nationalize the firm and prevent its failure amid skyrocketing gas prices. The total cost of Uniper's nationalization was approximately $53 billion.

Source: OilPrice.com. By Tsvetana Paraskova.