Verbund : Q1 2020 lower than our forecasts. 2020 guidance lowered
>Q1 2020 results lower than our estimates - Yesterday morning, Verbund reported Q1 2020 earnings lower than our expectations. EBITDA came in at € 331m (-4.9% y-o-y) vs our estimate of € 356m and EBIT at € 236.2m (-8.5% y-o-y) vs our estimate of € 266m. Net profit totalled € 156.5m (-12% y-o-y) vs ODDO BHF at € 184m and the consensus at € 170m. The Q1 results were marked by: 1/ a drop in hydropower production with an activity volume 12 points lower than in Q1 2019; 2/ ...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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