EVN AG - Earnings Release 2020 | FinancialReports.eu

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Ad-hoc | 29 April 2020 19:08

EVN AG: EVN decreases outlook for the Group net result 2019/20

EVN AG / Key word(s): Change in Forecast

EVN AG: EVN decreases outlook for the Group net result 2019/20

29-Apr-2020 / 19:08 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 board of EVN AG decreases its outlook for the Group net result of the current financial year 2019/20. Assuming average conditions in the energy market in the second half of the year, EVN expects a Group net result in a range of EUR 180 million to EUR 200 million (so far EUR 200 million to EUR 230 million).

The impairment testing conducted in connection with the preparation of the half-year report as of 31 March 2020 results in negative non-cash effects totalling around EUR 15 million after taxes. Against the background of increased country risk premiums as a result of the COVID-19 pandemic, the weighted average costs of capital used for the valuation of fixed assets have risen. The resulting impairments relate to energy production facilities in South East Europe and the customer base in North Macedonia.

Also due to COVID-19, the execution of the agreement for the completion of the wastewater treatment project in Kuwait is delayed, however, it is still expected in the course of this financial year. Therefore, the start of construction will be delayed, which reduces the expected contribution to this financial year’s result.

The letter to shareholders for the first half-year 2019/20 will be published on 28 May 2020.

Contact:

Gerald Reidinger

Head of Controlling and Investor Relations

Phone: +43 2236 200-12698

E-mail: [email protected]

Stefan Zach

Head of Information and Communication

Phone: +43 2236 200-12294

E-mail: [email protected]

29-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	EVN AG
	EVN Platz
	2344 Maria Enzersdorf
	Austria
Phone:	+43-2236-200-12294
E-mail:	[email protected]
Internet:	www.evn.at
ISIN:	AT0000741053
WKN:	074105
Indices:	ATX
Listed:	Foreign Exchange(s) Vienna Stock Exchange (Official Market)
EQS News ID:	1033249