Verbund : Caution the watchword pending more clarity on political intentions
>9M results slightly below forecasts - Verbund reported yesterday 9M 2022 results below estimates. EBITDA rose by 68% year-on-year to € 1.93bn (vs € 1.98bn forecast) and EBIT by 92% year-on-year to € 1.62bn vs € 1.68bn. Despite far weaker hydroelectric production levels than normal in Q3 (impact estimated at € 1bn YTD), Verbund performed well in 9M 2022, mainly thanks to: 1/ higher average sale prices (+€ 51.3/MWh y-o-y), more than offsetting lower production volume...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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