Verbund AG

Verbund is a public utility company engaged in the generation and transmission of electricity from subsidiaries' hydro and thermal power stations located throughout Austria. Through its subsidiaries, Co. is involved in the planning and construction of water systems, hydroelectric power plants, river structures, sewage disposal systems, and high voltage transmission towers and lines. Co. generates, trades and sells electrical energy to power exchange buyers, traders, energy supply companies and industrial companies as well as households and commercial customers.
  • TickerVER
  • ISINAT0000746409
  • ExchangeVienna Stock Exchange
  • SectorElectricity
  • CountryAustria

Analysts

Raiffeisen Centrobank Equity Daily 17.01.2020

Raiffeisen Centrobank Equity Daily 17.01.2020 ◾AT/CZ: Utilities - Germany offers generous compensation for coal exit (neutral) ◾AT: Erste Group - Not bidding for mBank (neutral) ◾AT: UBM - UBM to develop residential project in Prague, 300 residential units (positive) ◾PL: Bank Millennium - 4Q 19 profit warning on PLN 150 mn provision for FX mortgage loans (neutral) ◾PL: mBank - 4Q 19 profit warning on additional provisions for FX mortgages and adjustments for fee return from early repaid consumer loans (neutral) ◾RO: Electrica - Regulator approved average decrease of 1.8% of 2020 tariffs for E...

Raiffeisen Centrobank Equity Daily 14.01.2020

Raiffeisen Centrobank Equity Daily 14.01.2020 ◾AT: AGRANA - 3Q EBIT and pre-tax profit broadly in line with RCBe, FY 19/20 guidance confirmed (neutral) ◾AT: Flughafen Wien - Austrian Airlines' passengers growth in December in line with dynamics of previous months (neutral) ◾AT: OMV - 4Q 19 operating results: increase of gas output to be offset by higher E&A expenses and weaker petchem and refining margins (neutral) ◾AT: S IMMO - Exceeds portfolio of 2 mn sqm in Berlin commuter belt (neutral) ◾AT: Verbund - Moody's rating increase to A3 from Baa1 (neutral) ◾AT: Vienna Insurance Group - Media re...

MarketLine Department

Statkraft AS - Strategy, SWOT and Corporate Finance Report

Summary Statkraft AS - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Statkraft AS (Statkraft or 'the company'), wholly-owned by the Norwegian state, is a renewable energy company that develops and produces hydropower, wind power, gas power, and district heating. The company offers services to various regions including Norway, Sweden, the UK, Germany and other co...

MarketLine Department

Vattenfall AB. - Strategy, SWOT and Corporate Finance Report

Summary Vattenfall AB. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Vattenfall AB (Vattenfall or 'the company') is a energy company owned by Swedish state that supplies electricity and heat to customers in Europe. It primarily generates electricity and heat across Europe. Vattenfall utilizes various resources including nuclear, wind, hydro, natural gas, solar...

An unfavourable environment weighs on VERBUND AG, which sees a downgrade to Neutral

The independent financial analyst theScreener just requalified the general evaluation of VERBUND AG (AT), active in the Alternative Electricity industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as defensive. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Neutral. As of the analysis date December 6, 2019, the closing price was EUR 45.60 and its target price was estimated at EUR 40.53.

Raiffeisen Centrobank Equity Daily 17.01.2020

Raiffeisen Centrobank Equity Daily 17.01.2020 ◾AT/CZ: Utilities - Germany offers generous compensation for coal exit (neutral) ◾AT: Erste Group - Not bidding for mBank (neutral) ◾AT: UBM - UBM to develop residential project in Prague, 300 residential units (positive) ◾PL: Bank Millennium - 4Q 19 profit warning on PLN 150 mn provision for FX mortgage loans (neutral) ◾PL: mBank - 4Q 19 profit warning on additional provisions for FX mortgages and adjustments for fee return from early repaid consumer loans (neutral) ◾RO: Electrica - Regulator approved average decrease of 1.8% of 2020 tariffs for E...

Raiffeisen Centrobank Equity Daily 14.01.2020

Raiffeisen Centrobank Equity Daily 14.01.2020 ◾AT: AGRANA - 3Q EBIT and pre-tax profit broadly in line with RCBe, FY 19/20 guidance confirmed (neutral) ◾AT: Flughafen Wien - Austrian Airlines' passengers growth in December in line with dynamics of previous months (neutral) ◾AT: OMV - 4Q 19 operating results: increase of gas output to be offset by higher E&A expenses and weaker petchem and refining margins (neutral) ◾AT: S IMMO - Exceeds portfolio of 2 mn sqm in Berlin commuter belt (neutral) ◾AT: Verbund - Moody's rating increase to A3 from Baa1 (neutral) ◾AT: Vienna Insurance Group - Media re...

Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

Verbund : 9M earnings miss forecasts. Reduce rating reiterated

>Earnings miss forecasts and slight change to the guidance - Verbund yesterday morning reported its earnings for the first nine months of the year. EBITDA came in at € 946m and adjusted EBIT at € 677m, falling short of our estimates and consensus forecasts. Recurring EPS came to € 1.30, undershooting forecasts (see the table on page 2 for further details). The group has slightly narrowed its guidance range for 2019. Verbund now expects EBITDA between € 1,190m and € 1,...

Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

Verbund : Résultats 9M inférieurs aux attentes. Alléger réitéré

>Résultats inférieurs aux attentes et légère modification de la guidance - Verbund a publié hier matin ses résultats 9M. L'EBITDA est ressorti à 946 M€ et l'EBIT ajusté à 677 M€ en dessous de nos estimations et celles du consensus. Le BPA récurrent est ressorti à 1,30 €, en dessous des estimations (voir tableau page 2 pour plus de détails). Le groupe a légèrement rétréci la fourchette de sa guidance 2019. Verbund prévoit désormais un EBITDA compris entre 1 190 et 1 24...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/11/2019

...

A director sold 8,359 shares at 19.720EUR and

A director at Oesterreichische Elektrizitats Ag sold 8,359 shares at 19.720EUR and the significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/07/2019

While, since the creation of the banking union, Germany has steadfastly opposed the idea of setting up a common scheme to guarantee savers’ deposits, the article published in the Financial Times on Wednesday 6 November by the German finance minister has come as a bombshell. There is still a long way to go, but this statement responds to a real need for capital market unification and investors want to believe in this scenario. At the sector level, our analysts believe that it will rela...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/11/2019

Alors que l’Allemagne s’est opposée depuis la création de l’Union Bancaire à la création d’un fonds de garantie des dépôts au niveau européen, l’article publié dans le FT du ministre allemand des finances a fait l’effet d’une « bombe ». Il y a loin encore de la coupe aux lèvres, mais cette déclaration répond à un vrai besoin d’unification des marchés de capitaux et les investisseurs veulent y croire. Sur le plan sectoriel, nos analystes pensent qu’elle relancera les scénarios de conso...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Anis Zgaya
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/02/2019

...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Anis Zgaya
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 02/08/2019

...

Alain William ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/01/2019

Market expectations of a cut in the Fed’s policy rates have come true... Unless that is, that the Fed that has aligned itself with investor expectations. Is this really good news for equity markets? Not necessarily, as the recent trend in the cost of capital, in a context of a slowdown in earnings growth, tends to demonstrate the latter’s inertia. In other words, the gain on the risk-free rate is absorbed by an equivalent (if not greater) increase in the risk premium. Conclusion: indi...

An unfavourable environment weighs on VERBUND AG, which sees a downgrade to Neutral

The independent financial analyst theScreener just requalified the general evaluation of VERBUND AG (AT), active in the Alternative Electricity industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as defensive. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Neutral. As of the analysis date December 6, 2019, the closing price was EUR 45.60 and its target price was estimated at EUR 40.53.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

Statkraft AS - Strategy, SWOT and Corporate Finance Report

Summary Statkraft AS - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Statkraft AS (Statkraft or 'the company'), wholly-owned by the Norwegian state, is a renewable energy company that develops and produces hydropower, wind power, gas power, and district heating. The company offers services to various regions including Norway, Sweden, the UK, Germany and other co...

MarketLine Department

Vattenfall AB. - Strategy, SWOT and Corporate Finance Report

Summary Vattenfall AB. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Vattenfall AB (Vattenfall or 'the company') is a energy company owned by Swedish state that supplies electricity and heat to customers in Europe. It primarily generates electricity and heat across Europe. Vattenfall utilizes various resources including nuclear, wind, hydro, natural gas, solar...

MarketLine Department

RWE AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's RWE AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by RWE AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights This repo...

Expert Corporate Governance Service (ECGS)

Verbund - AGM 30 April 2019

Item 4: Since there is no vote on Management Board members' remuneration in Austria, we take the opportunity to voice our concerns regarding the remuneration system currently in place at Verbund which we consider has several shortcomings: The target amounts for the short-term incentive (STI) have not been disclosed and the performance criteria are insufficiently disclosed. Furthermore, there is no long-term incentive (LTI) in place for Management Board members. Finally, pension benefits are also insufficiently disclosed. Although we consider the absolute amounts paid to the Management Board me...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

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