• WKN: 877738
  • ISIN: AT0000746409
  • Land: Österreich

Nachricht vom 06.05.2015 | 07:58

VERBUND AG: VERBUND results for quarter 1/2015: positive income trend despite continued challenging conditions

VERBUND AG  / Key word(s): Quarter Results/Interim Report

06.05.2015 07:58

Dissemination of an Ad hoc announcement, transmitted by DGAP - a service of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Conditions on the European electricity market remained challenging in quarter 1/2015. The economy continued to show a weak performance, and prices for primary energy and wholesale electricity remained low. Three factors were responsible for the low price levels: excessive subsidies for new renewable energy sources, overcapacities in the European electricity market and the non-functioning CO2 market in Europe. Within this environment, VERBUND systematically implemented the thermal power restructuring measures which had been decided upon in 2014. The sale of the French Pont-sur-Sambre and Toul combined cycle gas turbine power plants (CCGTs) and disposal of the equity interest in Sorgenia in Italy were both completed in quarter 1/2015. The operating business was impacted by the above-average water supply in rivers in quarter 1/2015. At 1.03, the hydro coefficient was 3.0% above the long-term average and ten percentage points above the previous year's figure. Generation from hydropower thus rose by 497 GWh. VERBUND's total own generation reached 7,453 GWh in quarter 1/2015, an increase of 13.9% compared with the first quarter of the previous year. Despite the negative operating environment and lower average sales prices, VERBUND succeeded in increasing earnings. EBITDA increased by 5.2% to EUR217.8m, and the Group result rose by 54.9% year-on-year to EUR63.4m. The increase can be mainly attributed to the fact that losses are no longer being incurred from French thermal production now that the power plants have been sold. Outlook for 2015 confirmed On the basis of average own generation from hydropower, we expect EBITDA of approximately EUR770m and a Group result of approximately EUR180m in financial year 2015. A payout ratio of around 50% of the Group result after adjustment for non-recurring effects is planned for 2015. Key figures Unit Q1/2014* Q1/2015 Change Revenue EURm 680.4 712.1 4.7% EBITDA EURm 207.1 217.8 5.2% Operating result EURm 110.7 123.8 11.9% Group result EURm 40.9 63.4 54.9% Earnings per share EUR 0.12 0.18 54.9% EBIT margin % 16.3 17.4 - EBITDA margin % 30.4 30.6 - Cash flow from operating activities EURm 174.6 166.1 -4.9% Free cash flow after dividend EURm 1.4 266.3 - Gearing % 66.5 72.1 - * The calculation of the figures takes account of the profit/loss after tax from discontinued operations (equivalent to the profit/loss after tax attributable to the French companies Pont-sur-Sambre Power S.A.S. and Toul Power S.A.S., which were classified as held for sale until their deconsolidation in 2014). Additional information and the interim report for quarter 1/2015 is available at > 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 06.05.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at and
Language: English Company: VERBUND AG Am Hof 6A 1010 Wien Austria Phone: 0043-1-53113-52616 Fax: 0043-1-53113-52694 E-mail: Internet: ISIN: AT0000746409 WKN: 877738 Indices: ATX Listed: Wien (Amtlicher Handel / Official Market) End of Announcement DGAP News-Service

Events im Fokus

Termine 2022

1./2. Juni 2022: Fachkonferenz Immobilien & Software | IT

13./14. Juli 2022: Fachkonferenz Beteiligungsgesellschaften & Consumer/Leisure

12./13. Oktober 2022: Fachkonferenz Finanzdienstleistungen/Technologie

Aktuelle Research-Studie

Original-Research: Deutscher Mittelstandsanleihen FONDS (von GBC AG): Deutscher Mittelstandsanleihen FONDS

05. Juli 2022