DGAP-Ad-hoc: VERBUND AG / Key word(s): Change in Forecast VERBUND AG: VERBUND raises earnings forecast for 2021 12-Oct-2021 / 12:26 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.

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The management of VERBUND AG is today announcing an increase in its earnings forecast for financial year 2021. In a significantly improved energy environment, based on the assumption of average own generation from hydropower and wind power for the remainder of the year, as well as the present opportunity and risk situation for financial year 2021, VERBUND expects reported EBITDA (equivalent to the EBITDA after adjustment of non-recurring effects) of between around EUR1,490m and EUR1,590m (previous forecast: around EUR1,310m to EUR1,410m) and a reported Group result of between around EUR740m and EUR810m (previous forecast: around EUR590m to EUR660m). VERBUND's planned payout ratio for financial year 2021 is between 45% and 55% of the Group result of between around EUR720m and EUR790m, after adjustment for non-recurring effects (previous forecast: around EUR580m to EUR650m).

The increase in the earnings forecast is mainly attributable to above-average hydro conditions in quarter 3/2021, higher average sales prices as well as higher contributions to earnings from flexibility products.

Further details will be announced when the results for quarters 1-3/2021 are published on 4 November 2021.

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

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12-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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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:  1240029 
 
End of Announcement  DGAP News Service 
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1240029 12-Oct-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1240029&application_name=news

(END) Dow Jones Newswires

October 12, 2021 06:26 ET (10:26 GMT)