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VERBUND AG — Earnings Release 2018
Jan 16, 2019
765_iss_2019-01-16_ab538fc3-e343-4b0a-9bc6-80b2307a8e38.pdf
Earnings Release
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DGAP-Ad-hoc: VERBUNDAG/ Keyword(s):Change in Forecast VERBUNDAG: VERBUNDraises earnings forecast for 2018 due to positive non-recurring effects
16-Jan-2019 / 11:35 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.
Today, the Management of VERBUNDAGannounced an increase in earnings forecast for financial year 2018.As a result of positive nonrecurring effects from impairment testing, VERBUNDnowexpects aGroup result of approximatelyEUR430 million for financial year 2018 (former forecast: approximatelyEUR340 million). The forecast for EBITDAand theGroup result adjusted for non-recurring effects,which serves as the basis for calculating the dividend, remains unchanged at approximatelyEUR870 million and approximatelyEUR335 million respectively.
Afavourable change in parameters in the energymarket, primarilyan increase in electricityprice forecasts, caused these positive nonrecurring effects from impairment testing. The resulting value increases concern hydropower inAustria andGermanyand wind energyin Romania.
For financial year 2018, VERBUNDplans a dividend payout ratio of between 40%and 45%of theGroup result after adjusting for nonrecurring effects.
Additional details will be provided upon the publication of 2018 annual results on 13 March 2019.
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]
16-Jan-2019 CET/CESTThe DGAPDistribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.
Archive atwww.dgap.de
| Language: | English |
|---|---|
| Company: | 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) Vienna Stock Exchange (Official Market) |
End ofAnnouncement DGAPNews Service