EQS-News: VERBUND AG / Key word(s): Quarter Results
VERBUND AG: Results for quarter 1/2025: declining earnings due to
significantly below-average water supply
14.05.2025 / 07:58 CET/CEST
The issuer is solely responsible for the content of this announcement.
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VERBUND’s earnings for quarter 1/2025 saw a substantial year-on-year
decline due to the extremely low water supply. EBITDA fell by 18.1% to
€723.9m compared with the same period of the previous year and the Group
result was down 21.6% to €396.7m.
The hydro coefficient for the run-of-river power plants dropped to 0.83,
or 46 percentage points lower than the comparative prior-year figure
(1.29) and 17 percentage points below the long-term average. Generation
from annual storage power plants fell by 4.8% in quarter 1/2025 compared
with the prior-year reporting period. Generation from hydropower thus
decreased by 2,425 GWh to 5,468 GWh. Similarly, at 0.76, the new
renewables coefficient from wind and photovoltaics in quarter 1/2025 was
24 percentage points below the planned value and 13 percentage points
lower than in quarter 1/2024 (0.89). Generation from wind power and
photovoltaics thus fell by 58.4 GWh to 576.1 GWh. Despite significantly
higher generation from thermal power, VERBUND’s own generation in
quarter 1/2025 was 21.3% lower than the previous year's figure. The higher
average sales prices achieved had a positive effect on earnings. The sales
price achieved for own generation from hydropower rose by €8.7/MWh to
€126.8/MWh. This high sales prices in quarter 1/2025 was mainly
attributable to premature “limit” sales at the start of 2023 and from
November 2023 onwards, allowing VERBUND to benefit from the very high
wholesale prices for electricity at that time. The higher earnings
contribution from the Grid segment also improved earnings due to a much
better result at Austrian Power Grid AG. The Sales segment likewise
performed well in quarter 1/2025 as end-customer business stabilised. The
contribution from flexibility products, which rose by 39.0% to €58.3
million in quarter 1/2025, also increased earnings.
Earnings forecast for 2025 adjusted
Based on expectations of average levels of own generation from hydropower,
wind power and photovoltaics as well as the opportunities and risks
identified, VERBUND expects EBITDA of between around €2,700m and €3,200m
and a Group result of between around €1,350m and €1,700m in financial
year 2025. VERBUND’s planned payout ratio for financial year 2025 is
between 45% and 55% of the Group result of between around €1,350m and
€1,700m, after adjusting for non-recurring effects. The earnings forecast
is contingent on the Group not being impacted by any further legal or
regulatory changes.
KPI
Unit Q1/2024 Q1/2025 Change
Revenue €m 2,007.8 2,295.0 14.3%
EBITDA €m 883.4 723.9 –18.1%
Operating result €m 744.7 575.1 –22.8%
Group result €m 506.0 396.7 –21.6%
Earnings per share € 1.46 1.14 –21.6%
EBIT margin % 37.1 25.1 –
EBITDA margin % 44.0 31.5 –
Cash flow from operating activities €m 929.3 538.4 –42.1%
Free cash flow before dividends €m 675.0 289.9 –57.1%
Free cash flow after dividends €m 675.0 289.0 –57.2%
Performance of VERBUND shares % -19.4 -6.5 –
Gearing % 9.4 14.6 –
Additional information as well as the Interim Financial Report for
quarter 1/2025 is available on the website www.verbund.com > Investor
Relations > Latest financial results.
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
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14.05.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
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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: Vienna Stock Exchange (Official Market)
EQS News ID: 2136846
End of News EQS News Service
2136846 14.05.2025 CET/CEST
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