Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Austria
  4. Wiener Boerse
  5. Verbund AG
  6. News
  7. Summary
    VER   AT0000746409

VERBUND AG

(VER)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 06/22 03:59:56 pm
75.125 EUR   -0.30%
06/21VERBUNDá : Begins Work On Reisseck II Plus Power Plant In Austria
MT
06/08VERBUNDá : Chairman Steps Down
MT
06/08VERBUND AG : Chairman of the Supervisory Board resigns
EQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

PRESS RELEASE : VERBUND AG: Results for quarter 1/2021: earnings down slightly due to lower water supply

05/12/2021 | 02:00am EDT
DGAP-News: VERBUND AG / Key word(s): Quarter Results 
VERBUND AG: Results for quarter 1/2021: earnings down slightly due to lower water supply 
2021-05-12 / 07:58 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
The energy market environment, which is vitally important for our business, continued to improve in recent months in 
spite of the COVID-19 crisis. Wholesale electricity prices, one of the main value drivers of VERBUND's business 
performance, increased on the back of rising prices for CO[2] emission rights, which are being pushed up by the strong 
commitment of the EU member states to achieving comprehensive decarbonisation of the energy system. This favourable 
development underpins VERBUND's business model and will allow us to implement an ambitious and sustainable investment 
programme over the next three years. The investments will focus on further strengthening the Austrian high-voltage grid 
- a key prerequisite for decarbonisation of the energy system in Austria and Europe - as well on further expanding 
domestic hydropower generation and building up new renewable electricity production. VERBUND is also moving into new 
fields of application that will play an important role in the successful implementation of the energy transition over 
the coming years. Some examples are the development of a green hydrogen system, the advancement of electromobility and 
the development of storage systems. 
The performance of VERBUND shares in quarter 1/2021 was impacted not only by the protracted COVID-19 crisis but in 
particular by high inflows and outflows in exchange traded funds (ETFs) in connection with clean energy and a major 
index reweighting in the S&P Global Clean Energy Index. After reaching their high in early February, the shares 
experienced a correction which lasted until the beginning of March, followed by a volatile sideways movement until the 
end of the quarter. VERBUND shares ended quarter 1/2021 trading at EUR62.0, down 11.2% compared with year-end 2020. 
VERBUND's earnings figures for quarter 1/2021 were down slightly, due mainly to a year-on-year drop in production of 
electricity from hydropower attributable to a lower water supply. EBITDA decreased by 8.6% to EUR302.7m, and the Group 
result fell by 7.6% to EUR144.7m. The hydro coefficient for the run-of-river power plants in quarter 1/2021 came to 0.99, 
which is 1 percentage point below the long-term average and 10 percentage points below the year-ago figure. Generation 
from annual storage power plants also decreased substantially in quarter 1/2021 due to market conditions. Overall, 
generation from hydropower was down 11.2% on the previous year's level. However, the marked increase in wholesale 
electricity prices on the spot markets gave a boost to earnings - unlike futures market prices, which declined in the 
relevant period. The average sales price for our own generation from hydropower increased by EUR1.7/MWh to EUR47.6/MWh. 
Outlook for 2021 adjusted 
Based on expectations of average own generation from hydropower and wind power in quarters 2-4/2021 and the 
opportunities and risks identified, VERBUND currently expects EBITDA of between around EUR1,130m and EUR1,300m and a Group 
result of between around EUR480m and EUR590m in financial year 2021. Financial effects from the planned acquisition of the 
51% stake in Gas Connect Austria GmbH are not included in this earnings forecast. VERBUND's planned payout ratio for 
2021 is between 45% and 55% of the Group result of between around EUR480m and EUR590m, after adjustment for non-recurring 
effects. 
 
KPIs 
                                     Unit Q1/2020 Q1/2021  Change 
Revenue                              EURm   1,257.3   674.1 - 46.4% 
EBITDA                               EURm     331.0   302.7  - 8.6% 
Operating result                     EURm     236.2   207.9 - 12.0% 
Group result                         EURm     156.5   144.7  - 7.6% 
Earnings per share                   EUR       0.45    0.42  - 7.6% 
EBIT margin                          %       18.8    30.8       - 
EBITDA margin                        %       26.3    44.9       - 
Cash flow from operating activities  EURm     298.2   203.7 - 31.7% 
Free cash flow before dividend       EURm     150.2    35.3 - 76.5% 
Free cash flow after dividend        EURm     150.2    35.3 - 76.5% 
Performance of VERBUND shares        %     - 26.2  - 11.2       - 
Gearing                              %       30.7    26.4       - 
 

Additional information as well as the Interim Report for quarter 1/2021 is available on the website www.verbund.com > Investor Relations > Latest financial results.

Contact: Andreas Wollein Head of Group Finance and Investor Relations T.: +43 (0)5 03 13 - 52604 F.: +43 (0)5 03 13 - 52694 mailto:investor-relations@verbund.com -----------------------------------------------------------------------------------------------------------------------

2021-05-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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) Vienna Stock Exchange (Official Market) 
EQS News ID:  1195515 
 
End of News   DGAP News Service 
=------------ 

1195515 2021-05-12

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1195515&application_name=news 
 

(END) Dow Jones Newswires

May 12, 2021 01:59 ET (05:59 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
VERBUND AG -0.33% 75.1 Delayed Quote.7.87%
All news about VERBUND AG
06/21VERBUNDá : Begins Work On Reisseck II Plus Power Plant In Austria
MT
06/08VERBUNDá : Chairman Steps Down
MT
06/08VERBUND AG : Chairman of the Supervisory Board resigns
EQ
05/31VERBUNDá : Completes Acquisition Of 51% Stake In Gas Connect Austria
MT
05/31DGAP-ADHOC : VERBUND AG: Acquisition of 51% stake in Gas Connect Austria GmbH co..
DJ
05/31VERBUND AG : Acquisition of 51% stake in Gas Connect Austria GmbH completed
EQ
05/27VERBUNDá : GE Renewable Energy to Equip VERBUND'S Reisseck II+ Pumped Hydro Stor..
AQ
05/21TODAY'S ANALYST RECOMMENDATIONS : Cisco, easyJet, L Brands, Mattel, Salesforce....
05/12Verbund 1Q Earnings Fall; Narrows 2021 View Range
DJ
05/12VERBUNDá : Investoren Präsentation Quartal 1/2021
PU
More news
Financials
Sales 2021 3 719 M 4 439 M 4 439 M
Net income 2021 589 M 703 M 703 M
Net Debt 2021 2 478 M 2 958 M 2 958 M
P/E ratio 2021 44,1x
Yield 2021 1,09%
Capitalization 26 178 M 31 168 M 31 252 M
EV / Sales 2021 7,71x
EV / Sales 2022 6,93x
Nbr of Employees 2 949
Free-Float 34,3%
Chart VERBUND AG
Duration : Period :
Verbund AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VERBUND AG
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 11
Last Close Price 75,10 €
Average target price 57,78 €
Spread / Average Target -23,1%
EPS Revisions
Managers and Directors
NameTitle
Michael Strugl Chairman-Management Board & CEO
Peter F. Kollmann Chief Financial Officer
Martin Ohneberg Chairman-Supervisory Board
Karl Stadler Head-Corporate Governance & Compliance
JŘrgen Roth Independent Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
VERBUND AG7.87%31 186
NEXTERA ENERGY-3.66%145 794
ENEL S.P.A.-1.89%98 317
IBERDROLA, S.A.-7.31%81 811
DUKE ENERGY CORPORATION10.65%77 930
SOUTHERN COMPANY0.03%66 164