VERBUND AG: VERBUND raises earnings outlook for 2018
July 18, 2018 at 06:20 am EDT
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DGAP-Ad-hoc: VERBUND AG / Key word(s): Change in Forecast
VERBUND AG: VERBUND raises earnings outlook for 2018
18-Jul-2018 / 12:15 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The management of VERBUND AG today announced that it has raised its earnings forecast for financial year 2018. In an improved energy market environment, VERBUND AG expects EBITDA of approximately EUR950m (previously: approx. EUR870m) and a Group result of approximately EUR370m (previously: approx. EUR320m). The forecast is based on an assumption of average own generation from hydropower and wind during the rest of 2018. The Group result after adjustment for non-recurring effects is expected to increase to approximately EUR365m (previously: approx. EUR320m).
The increase in forecast EBITDA to approximately EUR950m is primarily due to higher average sales prices, an above-average water supply in quarter 2/2018 and improved earnings in the Grid segment. All of those factors are expected to fuel the increase in the Group result to around EUR370m.
VERBUND is planning a dividend payout ratio of between 40% and 45% of the Group result for financial year 2018 after adjustment for non-recurring effects.
Additional details will be provided on 26 July 2018 when the results for the first half of 2018 are announced.
Contact:
Andreas Wollein
Head of Group Finance, M&A and Investor Relations
T.: +43 (0)5 03 13 - 52604
F.: +43 (0)5 03 13 - 52694
mailto:investor-relations@verbund.com
18-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
VERBUND AG
Am Hof 6A
1010 Wien
Austria
Phone:
0043-1-53113-52604
Fax:
0043-1-53113-52694
E-mail:
investor-relations@verbund.com
Internet:
www.verbund.com
ISIN:
AT0000746409
WKN:
877738
Indices:
ATX
Listed:
Foreign Exchange(s) Wien (Amtlicher Handel / Official Market)
Verbund AG is Austria's leading producer and supplier of electricity. Net sales break down by activity as follows:
- production and sale of electricity (84.5%): 63.4 TWh sold in 2022 (of which primarily 30.7 TWh in Austria, 27.5 TWh in Germany and 4.4 TWh in France). At the end of 2022, the group had 163 hydraulic plants, 163 wind parks, 4 solar parks and 2 thermal plants;
- electricity transportation (12.7%): operation of a high-voltage electrical network of 6,959 km;
- other (2.8%): consult engineering, consulting, telecommunications and tourism services, etc.
VERBUND AG 
