VER VERBUND AG Class A

DGAP-News: VERBUND AG: Results for quarters 1-3/2019: Strong earnings performance increases the Group's strategic flexibility and confirms VERBUND's strategy

DGAP-News: VERBUND AG / Key word(s): 9 Month figures/Quarterly / Interim Statement
VERBUND AG: Results for quarters 1-3/2019: Strong earnings performance increases the Group's strategic flexibility and confirms VERBUND's strategy

06.11.2019 / 08:00
The issuer is solely responsible for the content of this announcement.

Developments in the energy market were favourable for VERBUND in quarters 1-3/2019. Against a backdrop of rising wholesale prices for electricity, increasing volatility in electricity grids and a clear trend towards renewable energy, the Group's strategic positioning is paying off. The Group consequently turned in a very satisfactory performance, recording a marked improvement in its results of operations and management KPIs and continuing its successful debt reduction. The solid strategic foundation combined with strong performance will give the Group greater flexibility for leveraging opportunities for growth in the market and will also increase its resilience to economic downturns.

The higher prices on the futures markets for wholesale electricity compared with the prior-year period led to higher average sales prices and contributed significantly to the favourable earnings performance. Earnings for quarters 1-3/2019 were also lifted by increased generation from hydropower and wind power as well as by higher output from thermal power plants. With a hydro coefficient of 1.02, the water supply in rivers was 2 percent above the long-term average and 6 percentage points above the level in quarters 1-3/2018. Generation from the annual storage power plants rose by 0.8%. Output from hydropower plants therefore increased by 1,372 GWh. Earnings also benefited from a higher earnings contribution from the Grid segment due to additional temporary revenue and the good results achieved through the programmes implemented in recent years to reduce costs and increase efficiency. By contrast, revenue from flexibility products declined year-on-year.

EBITDA rose by 39.5%, from EUR678.4m to EUR946.1m. The reported Group result increased by 59.5%, rising from EUR282.8m to EUR450.9m. The Group result after adjustment for non-recurring effects climbed by 63.3% from EUR277.6m to EUR453.3m. A significant improvement was also seen in the cash flow from operating activities, which rose by as much as 64.9% to EUR893.8m and is being used to further reduce the Group's debt.

Outlook for 2019 adjusted
Assuming an average water supply and an average wind supply in quarter 4/2019, and in light of the opportunities and risks identified, we expect EBITDA to amount to between approximately EUR1,190m and EUR1,240m and the Group result to between approximately EUR540m and EUR580m for financial year 2019. VERBUND is planning a dividend payout ratio of between 40% and 45% of the Group result for financial year 2019 after adjustment for non-recurring effects.

         
KPIs        
  Unit Q1-3/2018 Q1-3/2019 Change
Revenue EURm 2,080.7 2,663.6 28.0%
EBITDA EURm 678.4 946.1 39.5%
Operating result EURm 439.9 675.9 53.6%
Group result EURm 282.8 450.9 59.5%
Earnings per share EUR 0.81 1.30 59.5%
EBIT margin % 21.1 25.4 -
EBITDA margin % 32.6 35.5 -
Cash flow from operating activities EURm 542.1 893.8 64.9%
Free cash flow after dividends EURm 210.9 451.8 114.2%
Performance of VERBUND shares % 110.6 34.8 -
Gearing % 46.3 36.0 -
         
 


Additional information as well as the Interim Financial Report for quarters 1-3/2019 is available at > Investor Relations > Latest financial results.

Contact:

Andreas Wollein
Head of Group Finance, M&A and Investor Relations
T.: +43 (0)5 03 13 - 52604
F.: +43 (0)5 03 13 - 52694
mailto:

06.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at

Language: English
Company: VERBUND AG
Am Hof 6A
1010 Wien
Austria
Phone: 0043-1-53113-52604
Fax: 0043-1-53113-52694
E-mail:
Internet:
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Foreign Exchange(s) Vienna Stock Exchange (Official Market)
EQS News ID: 905581

 
End of News DGAP News Service

905581  06.11.2019 

fncls.ssp?fn=show_t_gif&application_id=905581&application_name=news&site_id=research_pool
EN
06/11/2019

Underlying

VERVERBUND AG Class A

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on VERBUND AG Class A

Research Team
  • Research Team
BRE MBANK SA
EUROB Eurobank Ergasi... ... (+95)

The Rear-View Mirror – EME markets: mixed market performances in March

EME Equity Market – March 2024 Market performance – mixed performances in March, with the Romanian BET outperforming. The MSCI EM Europe Index declined by 0.3% mom in EUR terms and 0.4% mom in USD in March. The Romanian BET reported the strongest performance, adding 7.1% mom in EUR terms, followed by the Czech PX and the Polish WIG20 (+4.1% and 1.0% mom, in EUR terms, respectively). Greece saw a relatively muted performance (-0.2% mom in EUR terms), while Hungary (-1.1% mom in EUR terms) and Tür...

BRE MBANK SA
EUROB EUROBANK ERGASIAS SERVICES & HOLDINGS SA
PEO BANK POLSKA KASA OPIEKI SA
JMT JERONIMO MARTINS SGPS S.A.
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
KRU KRUK S.A.
EXAE HELLENIC EXCHANGES SA
MOL MOL NYRT
CEZ CEZ AS
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
CDR CD PROJEKT S.A.
OMV OMV AG
PKO PKO BANK POLSKI S.A.
ALK ALKALOID AD SKOPJE
BHW BANK HANDLOWY W WARSZAWIE S.A.
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
VER VERBUND AG CLASS A
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
BSK ING BANK SLASKI S.A.
BDX BUDIMEX S.A.
TPS ORANGE POLSKA S.A.
CAI CA IMMOBILIEN ANLAGEN AG
SAR GR. SARANTIS S.A.
LPP LPP S.A.
AKCNS AKCANSA CIMENTO
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
CIMSA CIMENTO SANYAI VE TICARET A.S.
LOGO LOGO YAZILIM SANAYI VE TICARET A.S.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
2310 SAHARA INTERNATIONAL PETROCHEMICAL COMPANY
DOM DOM DEVELOPMENT SA
AEGN AEGEAN AIRLINES SA
ENA ENEA S.A.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
MGROS MIGROS TICARET A.S
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
TKNSA TEKNOSA IC VE DIS TICARET AS
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
LVC LIVECHAT SOFTWARE SA
TBCB TBC BANK JOINT STOCK CO
OTP OTP BANK NYRT
CAR INTER CARS S.A.
ARCLK ARCELIK A.S.
FROTO FORD OTOMOTIV SANAYI A.S.
OTKAR OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.S.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
ECH ECHO INVESTMENT
11B 11 BIT STUDIOS S.A.
TPE TAURON POLSKA ENERGIA S.A.
ALR ALIOR BANK SA
WPL WIRTUALNA POLSKA HOLDING SA
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
ETEL TELECOM EGYPT
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
H4L1 HALYK SAVINGS BANK OF KAZAKHSTAN GDR
SNP PETROM S.A.
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
DIGI DIGI COMMUNICATIONS NV
DNP DINO POLSKA S.A.
NBGGY NATIONAL BANK OF GREECE S.A. ADS
SNN SOCIETATEA NATIONALA NUCLEARELECTRICA SA
TEL C.N.T.E.E. TRANSELECTRICA
ELSA SOCIETATEA ENERGETICA ELECTRICA
FP. FONDUL PROPRIETATEA S.A. GDR (REG S)
GEB BANK OF GEORGIA
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
RICHT RICHTER
ALPHA ALPHA BANK
SFG SPHERA FRANCHISE GROUP SA
ADNOCDIST ADNOC DISTRIBUTION PJSC
KAP NATIONAL ATOMIC COMPANY KAZATOMPROM
TEN TEN SQUARE GAMES
ALG ALLEGRO.EU SA
CZG CESKA ZBROJOVKA GROUP
INPST INPOST S.A.
PCF PCF GROUP SA
HUGE HUUUGE
WINE PURCARI WINERIES PCL
CTPNV KAZMUNAYGAS NC JSC
ONE CTP NV
GPP ONE UNITED PROPERTIES SA
AROBS GRUPA PRACUJ DA
2381 AROBS TRANSILVANIA SOFTWARE SA
9526 ARABIAN DRILLING CO.
4071 JAHEZ INTERNATIONAL CO
H2O ARABIAN CONTRACTING SERVICES CO
7203 HIDROELECTRICA S.A.
AQ ELM CO
AIRA AQUILA PART PROD COM
AIR ASTANA JSC
04/03/24 April 3, 2024 1 EN
Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian
VER VERBUND AG Clas...

Verbund : Good result for 2023. Hedge taken in 2024-2025 in line with ...

>Good performance in 2023 slightly above our forecast - Verbund achieve a strong business performance in 2023. A shade above our forecast with an EBITDA increase of 42% to € 4,491m vs € 4,361m expected. The reported group result rose by 32% to € 2,266.1m and the group result after adjustment for non-recurring effects was up 49.1% to € 2,616m vs € 2,412m expected. The hydro coefficient was 2 points below the long-term average, but 12 points above FY 2022. Hence, hydro ...

VER VERBUND AG CLASS A
03/14/24 March 14, 2024 1 FR
Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian
VER VERBUND AG Clas...

Verbund : Good result for 2023. Hedge taken in 2024-2025 in line with ...

>Good performance in 2023 slightly above our forecast - Verbund achieve a strong business performance in 2023. A shade above our forecast with an EBITDA increase of 42% to € 4,491m vs € 4,361m expected. The reported group result rose by 32% to € 2,266.1m and the group result after adjustment for non-recurring effects was up 49.1% to € 2,616m vs € 2,412m expected. The hydro coefficient was 2 points below the long-term average, but 12 points above FY 2022. Hence, hydro ...

VER VERBUND AG CLASS A
03/14/24 March 14, 2024 1 EN
Research Team
  • Research Team
OPAP Greek Organisat...
MOL MOL NYRT ... (+10)

WOOD Daily: ASELS TI; GE Macro; CEZ CP; ALE PW; VER AV; CCOLA TI; OPAP...

HEADLINES: • Aselsan: quo vadis? New contracts, new products and upcoming transition to inflation accounting POSITIVE • Georgia macro: NBG cuts policy rate by 75bps • CEZ: press reports CEZ has won tender for 55% of GasNet, could weigh on the 2023 dividend payout NEGATIVE • Allegro: 4Q23 results above expectations; guidance for a strong 1Q24E POSITIVE • Verbund: 4Q23 results in line with guidance NEUTRAL • Coca-Cola Icecek: 4Q23 results – in line operationally NEUTRAL • OPAP: 4Q23 results and FY...

OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
MOL MOL NYRT
CEZ CEZ AS
VER VERBUND AG CLASS A
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
AEGN AEGEAN AIRLINES SA
RICHT RICHTER
ALG ALLEGRO.EU SA
03/14/24 March 14, 2024 1 EN
 PRESS RELEASE
Free
VER VERBUND AG Clas...

EQS-News: VERBUND AG: Jahresergebnis 2023: VERBUND mit starker Geschäf...

EQS-News: VERBUND AG / Schlagwort(e): Jahresergebnis VERBUND AG: Jahresergebnis 2023: VERBUND mit starker Geschäftsentwicklung im Jahr 2023 14.03.2024 / 07:58 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Die strategische und wirtschaftliche Entwicklung des VERBUND-Konzerns im Jahr 2023 war in einem sehr komplexen Umfeld wesentlich von geopolitischen Ereignissen, makro- und mikroökonomischen Faktoren, sektorspezifischen Entwicklungen und regulatorisch/politischen Entscheidungen geprägt. Insgesamt blicken wir auf ein sehr erfolgreich...

March 14, 2024 1 DE

ResearchPool Subscriptions

Get the most out of your insights

Get in touch