Brief: Verbund: Results For Quarters 1–2/2022

VERBUND AG

28/07/2022 07:21

July 28 (Reuters) - VERBUND AG  VERB.VI :
    * VERBUND AG: RESULTS FOR QUARTERS 1–2/2022: POSITIVE INCOME
TREND
FUELLED BY INCREASE IN WHOLESALE PRICES FOR ELECTRICITY
    * GROUP RESULT FOR QUARTERS 1-2/2022 WAS INFLUENCED BY
NON-RECURRING EFFECTS OF EUR 82.6M (Q1-2/2021: EUR 9.3M)
    * H1 EBITDA CLIMBED BY 110.5% TO EUR 1,378.9M
    * ADJUSTED FOR THESE NON-RECURRING EFFECTS, GROUP RESULT
ROSE BY
133.0% TO EUR 734.5M
    * H1 AVERAGE SALES PRICES OBTAINED FOR VERBUND'S OWN
GENERATION
FROM HYDROPOWER ROSE BY EUR 65.9/MWH TO EUR 112.5/MWH
    * EXPECTS EBITDA OF BETWEEN APPROXIMATELY EUR 3,000M AND EUR
3,500M AND A REPORTED GROUP RESULT OF BETWEEN APPROXIMATELY EUR
1,680M AND EUR 2,030M IN FINANCIAL YEAR 2022
    * EARNINGS FORECAST AND INFORMATION ON EXPECTED PAYOUT RATIO
ARE
CONTINGENT ON VERBUND NOT BEING IMPACTED BY POSSIBLE ENERGY
POLICY MEASURES TO SKIM OFF SOME OF PROFITS AT ENERGY COMPANIES
    * ALSO PLANNING A PAYOUT RATIO FOR 2022 OF BETWEEN 45% AND
55% OF
GROUP RESULT OF BETWEEN AROUND EUR 1,600M AND EUR 1,950M, AFTER
ADJUSTMENT FOR NON-RECURRING EFFECTS
    * TO PROPOSE SPECIAL DIVIDEND OF EUR 400M BE PAID IN
ADDITION TO
REGULAR DIVIDEND

Source text for Eikon:  ID:nEQ6310W4a 
Further company coverage:  VERB.VI 

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