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VERBUND AG — Earnings Release 2018
Jul 18, 2018
765_iss_2018-07-18_5423b2f7-30c4-4eac-a7bf-cbb9c1b5a34e.pdf
Earnings Release
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DGAP-Ad-hoc: VERBUNDAG/ Keyword(s):Change in Forecast VERBUNDAG: VERBUNDraises earnings outlook for 2018
18-Jul-2018 / 12:15 CET/CEST
Disclosure of an inside information acc. toArticle 17 MARof the Regulation (EU) No 596/2014, transmitted byDGAP- a service of EQS GroupAG.
The issuer is solelyresponsible for the content of this announcement.
The management of VERBUNDAGtodayannounced that it has raised its earnings forecast for financial year 2018. In an improved energy market environment, VERBUNDAGexpects EBITDAof approximatelyEUR950m (previously: approx. EUR870m) and aGroup result of approximatelyEUR370m (previously: approx. EUR320m). The forecast is based on an assumption of average own generation from hydropower and wind during the rest of 2018. TheGroup result after adjustment for non-recurring effects is expected to increase to approximatelyEUR365m (previously: approx. EUR320m).
The increase in forecast EBITDAto approximatelyEUR950m is primarilydue to higher average sales prices, an above-average water supplyin quarter 2/2018 and improved earnings in theGrid segment.All of those factors are expected to fuel the increase in theGroup result to around EUR370m.
VERBUNDis planning a dividend payout ratio of between 40%and 45%of theGroup result for financial year 2018 after adjustment for non-recurring effects.
Additional details will be provided on 26 July2018 when the results for the first half of 2018 are announced.
Contact: Andreas Wollein Head ofGroup Finance, M&Aand Investor Relations T.: +43 (0)5 03 13 - 52604
F.: +43 (0)5 03 13 - 52694 mailto:[email protected]
18-Jul-2018 CET/CESTThe DGAPDistribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.
Archive atwww.dgap.de
| Language: Company: |
English VERBUNDAG |
|---|---|
| Am Hof 6A | |
| 1010 Wien | |
| Austria | |
| Phone: | 0043-1-53113-52604 |
| 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 ofAnnouncement DGAPNews Service