STORY: Uniper made a net loss of $12.5 billion for the first half.
The German utility made the announcement Wednesday (August 17).
The company paid the price for being Germany's largest importer of Russian gas.
Moscow has cut gas supplies this year after it sent troops into Ukraine.
Flows through the key Nord Stream 1 pipeline are down to just a fifth of normal levels.
Uniper was forced to buy at higher prices elsewhere.
Its loss also came from impairments of more than $2.7 billion related to the canceled Nord Stream 2 pipeline.
Uniper had backed that financially.
Last month, the company took a $15 billion state bailout.
Germany will take a 30% stake in the firm and pledged over $9 billion of credit lines through a state lender.
Uniper expects the package to be approved at a general meeting.
The utility said it expected a big deficit for the full year, and might not exit the "loss zone" until 2024.
Shares in the firm fell close to 10% before recovering some ground.