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VERBUND AG — Earnings Release 2015
Jul 9, 2015
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VERBUND AG / Keyword(s): Forecast/Weiteres Schlagwort
VERBUND AG: VERBUND raises earnings forecast for 2015
Ad hoc announcement transmitted by DGAP – a service of EQS Group AG. The
issuer is solely responsible for the content of this announcement.
VERBUND AG's management announced today that the earnings forecast for
financial year 2015 is being raised. On the basis of average own generation
from hydropower for the rest of the year, VERBUND is expecting EBITDA of
around EUR850m (previous forecast: EUR770m) and a Group result of around
EUR240m (previous forecast: EUR180m) in financial year 2015. The planned
dividend continues to be based on a payout ratio of approximately 50% of
the adjusted Group result, which in 2015 will be around EUR240m (previous
forecast: EUR180m).
The earnings forecast has been adjusted partly because of the reversal of
provisions due to legal settlements expected in the grid segment.
Additional positive effects include above-average water supply in the first
half of 2015 (1.03), reductions in expenses and improvements in electricity
and grid operations. Further improvements stem from lower depreciation and
amortisation charges, optimisation measures in the thermal segment and an
improvement in the financial result.
These positive effects are set against one-time expenses expected in
connection with a planned bond buyback.
With the exception of the expenses for the planned bond buyback, the
effects described above have mostly been recognised already in the first
half of 2015. EBITDA for Q1-2/2015 will therefore be around EUR480m and the
Group result around EUR190m.
Further details of the effects described will be announced when the
half-year results are published on 29 July 2015.
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]
09.07.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
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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