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VERBUND AG — Earnings Release 2021
Oct 12, 2021
765_iss_2021-10-12_31bb4d79-a812-4a86-99f5-9d5b6d607a09.pdf
Earnings Release
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12-Oct-2021 / 12:26 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 VERBUNDAGis todayannouncing an increase in its earnings forecast for financial year 2021. In a significantly improved energyenvironment, based on the assumption of average own generation from hydropower and wind power for the remainder of the year, as well as the present opportunityand risk situation for financial year 2021, VERBUNDexpects reported EBITDA(equivalent to the EBITDAafter adjustment of non-recurring effects) of between around €1,490m and €1,590m (previous forecast: around €1,310m to €1,410m) and a reported Group result of between around €740m and €810m (previous forecast: around €590m to €660m). VERBUND's planned payout ratio for financial year 2021 is between 45%and 55%of the Group result of between around €720m and €790m, after adjustment for non-recurring effects (previous forecast: around €580m to €650m).
The increase in the earnings forecast is mainlyattributable to above-average hydro conditions in quarter 3/2021, higher average sales prices as well as higher contributions to earnings from flexibilityproducts.
Further details will be announced when the results for quarters 1-3/2021 are published on 4 November 2021.
Contact:
Andreas Wollein Head ofGroup Finance and Investor Relations T.: +43 (0)5 03 13 - 52604 F.: +43 (0)5 03 13 - 52694 mailto:[email protected]
12-Oct-2021 CET/CESTThe DGAPDistribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.
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| 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) Vienna Stock Exchange (Official Market) |
| EQSNews ID: | 1240029 |
End ofAnnouncement DGAPNews Service