Moody's Ratings (Moody's) has today affirmed the A1 ratings of the euro medium term notes of EVN AG (EVN). Concurrently, Moody's has affirmed the (P)A1 rating of the senior unsecured euro medium term note (EMTN) programme. The outlook remains stable. A full list of affected ratings can be found at...
EME Equity Market – March 2024 Market performance – mixed performances in March, with the Romanian BET outperforming. The MSCI EM Europe Index declined by 0.3% mom in EUR terms and 0.4% mom in USD in March. The Romanian BET reported the strongest performance, adding 7.1% mom in EUR terms, followed by the Czech PX and the Polish WIG20 (+4.1% and 1.0% mom, in EUR terms, respectively). Greece saw a relatively muted performance (-0.2% mom in EUR terms), while Hungary (-1.1% mom in EUR terms) and Tür...
>Good performance in 2023 slightly above our forecast - Verbund achieve a strong business performance in 2023. A shade above our forecast with an EBITDA increase of 42% to € 4,491m vs € 4,361m expected. The reported group result rose by 32% to € 2,266.1m and the group result after adjustment for non-recurring effects was up 49.1% to € 2,616m vs € 2,412m expected. The hydro coefficient was 2 points below the long-term average, but 12 points above FY 2022. Hence, hydro ...
>Good performance in 2023 slightly above our forecast - Verbund achieve a strong business performance in 2023. A shade above our forecast with an EBITDA increase of 42% to € 4,491m vs € 4,361m expected. The reported group result rose by 32% to € 2,266.1m and the group result after adjustment for non-recurring effects was up 49.1% to € 2,616m vs € 2,412m expected. The hydro coefficient was 2 points below the long-term average, but 12 points above FY 2022. Hence, hydro ...
HEADLINES: • Aselsan: quo vadis? New contracts, new products and upcoming transition to inflation accounting POSITIVE • Georgia macro: NBG cuts policy rate by 75bps • CEZ: press reports CEZ has won tender for 55% of GasNet, could weigh on the 2023 dividend payout NEGATIVE • Allegro: 4Q23 results above expectations; guidance for a strong 1Q24E POSITIVE • Verbund: 4Q23 results in line with guidance NEUTRAL • Coca-Cola Icecek: 4Q23 results – in line operationally NEUTRAL • OPAP: 4Q23 results and FY...
EQS-News: VERBUND AG / Schlagwort(e): Jahresergebnis VERBUND AG: Jahresergebnis 2023: VERBUND mit starker Geschäftsentwicklung im Jahr 2023 14.03.2024 / 07:58 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Die strategische und wirtschaftliche Entwicklung des VERBUND-Konzerns im Jahr 2023 war in einem sehr komplexen Umfeld wesentlich von geopolitischen Ereignissen, makro- und mikroökonomischen Faktoren, sektorspezifischen Entwicklungen und regulatorisch/politischen Entscheidungen geprägt. Insgesamt blicken wir auf ein sehr erfolgreich...
EQS-News: VERBUND AG / Key word(s): Annual Results VERBUND AG: 2023 annual results: VERBUND posts encouraging business performance in 2023 14.03.2024 / 07:58 CET/CEST The issuer is solely responsible for the content of this announcement. The VERBUND Group’s strategic and economic development in 2023 took place in a highly complex environment that was impacted in no small measure by geopolitical turmoil and macro- and microeconomic factors, along with sector-specific developments and regulatory/political decisions. Overall, 2023 was a very successful year for our Group, an...
EME Equity Market – February 2024 Market performance – a positive February, with the Polish WIG20 outperforming. The MSCI EM Europe Index added 4.2% mom in EUR terms and 3.7% mom in USD in February. The Polish WIG20 saw the strongest performance, adding 6.4% mom in EUR terms, followed by the Greek ASE (+4.2% mom), the Turkish ISE30 (+4.0% mom) and the Romanian BET (+2.6% mom) (all in EUR terms). There was a relatively muted performance in Hungary (+0.6% mom in EUR terms) and a decline in the Cze...
EQS-News: EVN AG / Schlagwort(e): Quartalsergebnis EVN AG: Geschäftsverlauf im ersten Quartal des Geschäftsjahres 2023/24 29.02.2024 / 07:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Highlights Stabiler Geschäftsverlauf dank diversifiziertem Geschäftsmodell der EVN Wesentliche Fortschritte beim Ausbau der erneuerbaren Erzeugung: Fertigstellung zwei weiterer Windparks Anstieg der erneuerbaren Erzeugung auf 81,8 % Transformation des Energiesystems als Wachstumsperspektive: Investitionen knapp 20 % über dem Vorjahr Planungsgem...
EQS-News: EVN AG / Key word(s): Quarter Results EVN AG: Business development in the first quarter of 2023/24 29.02.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Highlights Stable business development due to EVN’s diversified business model Substantial progress in expansion of renewable generation: commissioning of two further wind parks Increase in renewable generation to 81.8% Transformation of the energy system as a growth perspective: investments nearly 20% above previous year Construction proceeding as scheduled on t...
• Bank Handlowy: 2023 results imply a generous dividend yield, but reveal a weak growth profile • Isbank: 4Q23 highlights and guidance • Tofas: strong beat in the 4Q23 results • Romania macro: MPC on hold, with easing cycle in sight • Fondul Proprietatea: shareholders approve the buy-back and sale of the stake in Engie • TeraPlast: takeaways from the 4Q23 earnings call • Verbund: proposes a special DPS of EUR 0.75 on top of the regular DPS of EUR 3.4 • Solutions by STC: 4Q23E results preview (du...
Falling inflation and weaker growth (in Europe) and – paradoxically – higher interest rates are driving an upturn in M&A in Europe. The sectors that are expected to be the most active are: healthcare, technology, industry, telecoms and utilities/renewables. We present the M&A outlook for all sectors of activity and identify 80 potentially active companies (predators, targets, buyers or sellers of assets). - ...
La baisse de l’inflation et de la croissance (en Europe) et – paradoxalement – des taux d’intérêt plus hauts incitent à une reprise du M&A en Europe. Les secteurs qui devraient être les plus actifs sont : la Santé, la Technologie, l’Industrie, les Télécoms et les Utilities/Renouvelables. Nous présentons les perspectives M&A pour l’ensemble des secteurs d’activité et identifions 80 sociétés potentiellement actives (prédatrices, cibles, acquéreuses ou cédantes d’actifs). - ...
>Verbund has observed a significant gap between its estimates and the consensus for 2024 - Yesterday evening, Verbund's executive committee announced, via a press release, that its estimates for financial performance were significantly below those of the consensus for 2024. The rapid decline in electricity prices and the price of coal as well as the anticipation of a deterioration in the performance at the grid activity is set to have a negative impact on the group’s ...
>Verbund observe un écart significatif entre ses estimations et le consensus 2024 - Le comité Exécutif de Verbund a annoncé hier par communiqué de presse que ses estimations en matière de performance financière étaient sensiblement plus faibles que celles du consensus pour l’année 2024. La diminution rapide des prix de l’électricité et des prix du carbone ainsi que la performance attendue en baisse de l’activité Grid ont un impact négatif sur les résultats du groupe 2...
HEADLINES: • EMEA airlines: 2023 traffic; what's next, after a stellar year? • CCC: 4Q prelims short of guidance, due to major sell-down at Modivo; margins back to pre COVID-19 in core business NEGATIVE • Turkey macro: inflation report presents a solid, relatively hawkish, framework for disinflation • Czech Republic macro: CNB steps up the easing cycle • Fondul Proprietatea: Ministry of Finance might oppose sale of stake in Engie and the buyback programme NEGATIVE • Verbund: releases warning...
HEADLINES: • Aquila Part Prod Com: tap into Romania’s thriving consumer market (BUY - initiation of coverage) • Wizz Air 3QF24: weak quarter, as expected • Nuclearelectrica: 2023 preliminary figures in line, 2024 budget much below our estimates • Short News (TGN, VER)
>Nice stock market performance over the last six months - Verbund’s market showing over the last six months puts the stock among the best performers in the DJ Stoxx Utilities index, with close to 15% vs 2.6% for the index. The prospect of tighter price conditions over the winter in connection with an unstable geopolitical situation helped underpin bullish expectations on energy prices. In the last few weeks, however, the trend has weakened in the energy market, with a...
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