Brief: Verbund Q1 Group Result Down 4.3% To EUR 506 Mln

VERBUND AG

08/05/2024 07:02

May 8 (Reuters) - Verbund AG  VERB.VI :
    * SLIGHTLY LOWER EARNINGS DESPITE GOOD WATER SUPPLY
    * EARNINGS OUTLOOK FOR 2024 AS A WHOLE REMAINS VERY HEALTHY,
BUT
WELL BELOW RESULTS FOR 2023.
    * Q1 GROUP RESULT WAS DOWN 4.3% TO EUR 506.0M
    * EARNINGS WERE HARD-HIT BY SHARP DROP IN FUTURES PRICES FOR
WHOLESALE ELECTRICITY THAT WERE RELEVANT FOR REPORTING PERIOD
    * EXPECTS EBITDA OF BETWEEN AROUND EUR 2,800M AND EUR 3,300M
AND A
GROUP RESULT OF BETWEEN AROUND EUR 1,450M AND EUR 1,750M IN
FINANCIAL YEAR 2024.
    * PLANNED PAYOUT RATIO FOR FINANCIAL YEAR 2024 IS BETWEEN
45% AND
55% OF GROUP RESULT OF BETWEEN AROUND EUR 1,450M AND EUR 1,750M,
AFTER ADJUSTING FOR NON-RECURRING EFFECTS

Source text for Eikon:  ID:nEQ1qnf9Ta 
Further company coverage:  VERB.VI 

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