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VERBUND AG — Earnings Release 2016
Dec 20, 2016
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Download source fileDGAP-Ad-hoc: VERBUND AG / Key word(s): Legal Matter/Change in Forecast
VERBUND AG: Settlement of all outstanding matters associated with the
Mellach power plants site improves earnings forecast
20-Dec-2016 / 16:54 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
VERBUND AG's management is today announcing the imminent settlement of all
outstanding matters associated with the agreement with Energie Steiermark
to supply district heating from the Mellach power plants site.
VERBUND will in this regard erect a boiler plant at the Mellach site which
is intended to satisfy the district heating supply agreement. As a result,
VERBUND is giving itself the opportunity to close the Mellach hard coal
power plant even earlier than in 2020, in line with its strategic focus on
CO2-free electricity generation.
VERBUND is continuing to evaluate all the options for the Mellach combined
cycle gas turbine power plant which is also located at the Mellach site.
The parties have agreed not to disclose any further details of the
settlement.
Based on the effects of this settlement and accounting measurement effects,
VERBUND AG's management is increasing its earnings forecast for 2016.
Assuming average water and wind supplies to the end of the year, VERBUND
will achieve EBITDA of approximately EUR1,010m (previous forecast: EUR980m)
and a Group result of approximately EUR410m (previous forecast: EUR385m).
The adjusted 2016 Group result will remain unchanged at approximately
EUR315m as the settlement and the accounting measurement effects are
defined as non-recurring effects.
For additional information please contact
Mag. Andreas Wollein
Head of Group Finance and Investor Relations
Tel.: +43(0)50313-52604
Fax: +43(0)50313-52694
[email protected]
20-Dec-2016 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at 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: Foreign Exchange(s) Wien (Amtlicher Handel / Official
Market)
End of Announcement DGAP News Service
532013 20-Dec-2016 CET/CEST