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VERBUND AG — Earnings Release 2014
Feb 13, 2014
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VERBUND AG / Keyword(s): Results Forecast/Forecast
VERBUND AG: VERBUND AG publishes outlook for 2014
Ad hoc announcement transmitted by DGAP - a company of EQS Group AG. The
issuer is solely responsible for the content of this announcement.
VERBUND AG is publishing the outlook for financial year 2014 due to
significant deviations from the consensus in the market.
VERBUND AG's management expects the current negative market environment for
utilities in Europe to persist in 2014. This market environment is
characterised by wholesale electricity prices which continue to fall as a
result of massive overcapacity in electricity generation, an
oversubsidisation of renewable energy and a non-functioning CO2 market.
Pressure on the profitability of gas power plants will remain high.
On the basis of its current planning, the company is expecting to achieve
EBITDA of around EUR850m and a Group result of around EUR150m in financial
year 2014. The dividend planned for financial year 2014 will be based on a
payout ratio of approximately 50% of the adjusted Group result.
VERBUND AG's Executive Board will provide further information as part of
the publication of the results for 2013 on 5 March 2014.
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:[email protected]
13.02.2014 DGAP’s Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: VERBUND AG
Am Hof 6A
1010 Wien
Austria
Phone: 0043-1-53113-52616
Fax: 0043-1-53113-52694
E-mail: [email protected]
Internet: www.verbund.com
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Wien (Amtlicher Handel / Official Market)
End of Announcement DGAP News-Service