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VERBUND AG: VERBUND raises earnings forecast for 2021

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VERBUND AG / Key word(s): Change in Forecast
VERBUND AG: VERBUND raises earnings forecast for 2021

12-Oct-2021 / 12:26 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.

The management of VERBUND AG is today announcing an increase in its earnings forecast for financial year 2021. In a significantly improved energy environment, based on the assumption of average own generation from hydropower and wind power for the remainder of the year, as well as the present opportunity and risk situation for financial year 2021, VERBUND expects reported EBITDA (equivalent to the EBITDA after 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 mainly attributable to above-average hydro conditions in quarter 3/2021, higher average sales prices as well as higher contributions to earnings from flexibility products.

Further details will be announced when the results for quarters 1-3/2021 are published on 4 November 2021.

Contact:

Andreas Wollein
Head of Group Finance and Investor Relations
T.: +43 (0)5 03 13 - 52604
F.: +43 (0)5 03 13 - 52694
mailto:investor-relations@verbund.com

12-Oct-2021 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:

investor-relations@verbund.com

Internet:

www.verbund.com

ISIN:

AT0000746409

WKN:

877738

Indices:

ATX

Listed:

Foreign Exchange(s) Vienna Stock Exchange (Official Market)

EQS News ID:

1240029


 

End of Announcement

DGAP News Service

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