Verbund : Political uncertainty high but seems to be partially priced in
>Q1 results in line with our expectations - Verbund yesterday reported Q1 2023 results in line with our expectations. EBITDA came in at € 967m, up 18.7% year-on-year, vs our expectation of € 990m. The Q1 2023 performance benefited as expected from more favourable market pricing conditions and the contribution of assets acquired in Spain. See details by division on page 2. EBIT was € 841m, up 19.2% year-on-year (vs €865m expected). Net income was € 529m (+2.8% yoy), vs...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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