May 7, 2019 / 5:39 AM / 3 months ago

Uniper posts lower operating profit in Q1 but maintains 2019 targets

FRANKFURT, May 7 (Reuters) - Operating profit at German energy group Uniper declined on rising costs and lower earnings in its power and gas business, the company said on Tuesday, but upheld previous financial targets for the full year.

A mild winter and rising carbon dioxide avoidance costs, among other factors, were weighing on earnings in the first quarter, it said.

Uniper, in which Finland’s Fortum is seeking full control, said adjusted earnings before interest and tax (EBIT) in the first three months came in at 185 million euros ($207.40 million), 47.3 percent down from the previous year.

The company continues to expect its adjusted EBIT in 2019 to range between 550 and 850 million euros. Its planned dividend proposal is also still around 390 million.

$1 = 0.8920 euros Reporting by Vera Eckert, editing by Tassilo Hummel

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