Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Verbund : Résultats favorables mais valorisation trop optimiste

>Résultats S1 2021 supérieurs aux attentes - Verbund a publié hier des résultats S1 2021 supérieurs aux estimations. L'EBITDA est ressorti à 654.9 M€ (+2.5 % y-o-y) contre 605 M€ attendus et l'EBIT à 459.1 M€ (+5.5% y-o-y) contre 405 M€ attendus par ODDO BHF. Le RNpg a progressé de 4.5% à 324.5 M€ (vs ODDO BHF à 275 M€). Cette performance est principalement due à :1/ des prix de l'électricité réalisés plus élevés à 46.6 €/MWh (+2.2 € y-o-y), 2/ un coefficient hydro en...
Underlying
VERBUND AG Class A

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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