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VERBUND AG
Earnings Release • Jan 16, 2019
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Earnings Release
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News Details
Ad-hoc | 16 January 2019 11:35
VERBUND AG: VERBUND raises earnings forecast for 2018 due to positive non-recurring effects
VERBUND AG / Key word(s): Change in Forecast
VERBUND AG: VERBUND raises earnings forecast for 2018 due to positive non-recurring effects
16-Jan-2019 / 11:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Today, the Management of VERBUND AG announced an increase in earnings forecast for financial year 2018. As a result of positive non-recurring effects from impairment testing, VERBUND now expects a Group result of approximately EUR430 million for financial year 2018 (former forecast: approximately EUR340 million). The forecast for EBITDA and the Group result adjusted for non-recurring effects, which serves as the basis for calculating the dividend, remains unchanged at approximately EUR870 million and approximately EUR335 million respectively.
A favourable change in parameters in the energy market, primarily an increase in electricity price forecasts, caused these positive non-recurring effects from impairment testing. The resulting value increases concern hydropower in Austria and Germany and wind energy in Romania.
For financial year 2018, VERBUND plans a dividend payout ratio of between 40% and 45% of the Group result after adjusting for non-recurring effects.
Additional details will be provided upon the publication of 2018 annual results on 13 March 2019.
Contact:
Andreas Wollein
Head of Group Finance, M&A and Investor Relations
T.: +43 (0)5 03 13 – 52604
F.: +43 (0)5 03 13 – 52694
mailto:[email protected]
16-Jan-2019 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: | 0043-1-53113-52604 |
| 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 of Announcement | DGAP News Service |