- 05.11.2025, 08:00:37
- /
- EQS0002
EQS-News: VERBUND AG: Results for quarters 1–3/2025: Declining earnings due to significantly below-average water supply and extension of windfall tax in Austria
EQS-News: VERBUND AG / Key word(s): Quarter Results
VERBUND AG: Results for quarters 1–3/2025: Declining earnings due to
significantly below-average water supply and extension of windfall tax in
Austria
05.11.2025 / 07:59 CET/CEST
The issuer is solely responsible for the content of this announcement.
══════════════════════════════════════════════════════════════════════════
VERBUND’s earnings in quarters 1–3/2025 fell significantly below the
previous year’s level due to a considerable decline in electricity
production from hydropower and the negative effects of the extension of
windfall tax in Austria. EBITDA was down by 19.6% year-on-year to
€2,111.1m. The Group result dropped 12.6% to €1,212.2m, and the Group
result after adjusting for non-recurring effects declined by 22.2%
year-on-year to €1,155.7m.
The hydro coefficient for the run-of-river power plants fell to 0.79, or
28 percentage points below the comparative prior-year figure (1.07) and
21 percentage points below the long-term average. Generation from annual
storage power plants decreased by 4.1% in quarters 1–3/2025 compared with
the prior-year reporting period. Generation from hydropower was thus down
by a total of 6,032 GWh, or 23.1%, to 20,031 GWh. Electricity generation
from VERBUND’s new renewables generation facilities also declined. At
0.81, the new renewables coefficient from wind and photovoltaics in
quarters 1–3/2025 was 19 percentage points below the planned value and
11 percentage points lower than the prior-year figure (0.92). Generation
from wind power and photovoltaic production therefore fell by 131 GWh to
1,552 GWh. The expenses recognised in connection with the measures to tax
windfall profits, amounting to €112.0m in the current reporting period in
Austria, also impacted earnings.
Despite the overall decline in wholesale prices for electricity, the
average sales price achieved for own electricity generation from
hydropower was down only slightly, falling by €0.3/MWh to €113.5/MWh. The
high average sales price achieved in quarters 1–3/2025 was largely
attributable to early “limit” sales at the start of 2023 and, from
November 2023 onwards, at high wholesale prices for electricity. In
contrast, earnings were boosted by a higher temporary contribution from
the electricity grid, driven in part by higher auction revenues for
cross-border transmission capacity. However, the additional profit
generated will be clawed back through regulatory mechanisms in subsequent
periods. The Sales segment also performed well thanks in part to
stabilisation of the end-customer business. Earnings additionally
benefitted from the contribution from flexibility products, which
increased by 6.3% to €233.7m in quarters 1–3/2025. Here, VERBUND benefited
from the increasing price volatility by using its flexible power plant
capacities.
Earnings forecast for 2025 adjusted
Based on expectations of average levels of own generation from hydropower,
wind power and photovoltaics in quarter 4/2025 as well as the current
opportunities and risks identified, VERBUND expects EBITDA of between
around €2,750m and €2,900m and a reported Group result of between around
€1,500m and €1,600m in financial year 2025. The adjusted Group result is
expected to be between €1,450m and €1,550m. VERBUND’s planned payout ratio
for financial year 2025 is between 45% and 55% of the Group result, after
adjusting for non-recurring effects. The earnings forecast is contingent
on the Group not being impacted by any further legal or regulatory
changes.
KPIs
Unit Q1–3/2024 Q1–3/2025 Change
Revenue €m 5,837.6 5,876.7 0.7%
EBITDA €m 2,625.2 2,111.1 –19.6%
Operating result €m 2,003.3 1,658.6 –17.2%
Group result €m 1,387.2 1,212.2 –12.6%
Earnings per share € 3.99 3.49 –12.6%
EBIT margin % 34.3 28.2 –
EBITDA margin % 45.0 35.9 –
Cash flow from operating activities €m 2,332.8 1,653.8 –29.1%
Free cash flow before dividends €m 1,541.5 755.1 –51.0%
Free cash flow after dividends €m –392.5 –574.3 –
Performance of VERBUND shares % –11.4 –11.6 –
Gearing % 22.2 22.4 –
Additional information and the interim financial report for
quarters 1–3/2025 can be found at www.verbund.com > Group > Investor
relations > Financial result and five-year comparison > 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
══════════════════════════════════════════════════════════════════════════
05.11.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
View original content: [1]EQS News
══════════════════════════════════════════════════════════════════════════
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: 2223924
End of News EQS News Service
2223924 05.11.2025 CET/CEST
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=2223924&application_name=news&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf
References
Visible links
1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=be1390731d007eb9545e7f65b46b6432&application_id=2223924&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=newsOTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |
