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,...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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