Verbund : FY 2020 a shade above expectations. Prospect encouraging but already expected
>Results a shade above expectations in 2020 - Verbund released this morning 2020 results in line at the EBITDA level but a shade above expectations at the net income level. EBITDA came in at € 1,293m, +9.2% y-o-y, slightly above our expectations at € 1,263m but in line with the consensus at € 1,285m. Operating result totalled € 922m, up 6.5% y-o-y, (ODDO BHF at € 890m, and consensus € 968m). Net adjusted income reached € 610m (+11%), a shade above guidance (€ 560m-€ 6...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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