EQS-News: VERBUND AG: Results for quarters 1–2/2026: declining earnings due to significantly below-average water supply and lower sales prices

EQS-News: VERBUND AG / Key word(s): Half Year Results
   VERBUND AG: Results for quarters 1–2/2026: declining earnings due to
   significantly below-average water supply and lower sales prices

   30.07.2026 / 07:59 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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   VERBUND’s results for quarters 1–2/2026 saw a marked year-on-year decline
   due to poor water supply and falling sales prices. EBITDA fell by 24.9%
   year-on-year to €1,061.5m. The Group result was down 35.4% to €518.1m, and
   the Group result after adjustment for non-recurring effects amounted to
   €537.8m, a decrease of 31.4% on last year.

   The hydro coefficient for the run-of-river power plants stood at 0.68,
   down 8 percentage points on the previous year (0.76) and 32 percentage
   points lower than the long-term average. Generation from the annual
   storage power plants in quarters 1–2/2026 declined by 5.9% against the
   prior-year reporting period. As a result, total generation from hydropower
   plants was down 1,210 GWh (9.8%) to 11,191 GWh. By contrast, electricity
   generation from new renewables plants increased. At 0.82, the new
   renewables coefficient from wind and photovoltaic power was 18 percentage
   points below the planned value in quarters 1–2/2026 but 4 percentage
   points higher than in quarters 1–2/2025 (0.78). Generation from wind power
   and photovoltaics thus rose by 109 GWh to 1,173 GWh. As a consequence,
   VERBUND’s own generation in the first half of 2026 was 7.9% lower
   year-on-year, with generation from thermal power plants also slightly
   lower. Earnings performance was also adversely affected by the lower
   average sales price achieved for own generation from hydropower, which was
   down by as much as €31.0/MWh to €86.2/MWh. The decline is due to the high
   sales price in quarters 1–2/2025 which was mainly attributable to
   premature “limit” sales in 2023 at high wholesale prices.

   The earnings contribution from the Hydro segment fell significantly owing
   to lower generation and lower electricity prices. Performance in the New
   renewables segment was also down year-on-year due to lower sales prices.
   However, a higher earnings contribution from the Grid segment, Sales
   segment and All other segments mitigated these pressures to some extent.
   The key factors behind this were the improved operating results from the
   gas transmission system, higher contributions from the end customer
   business and a positive performance in thermal generation due to high
   spreads, particularly at the start of the year. The contribution from
   flexibility products was down 16.7% to €136.4m in quarters 1–2/2026.

   Guidance for 2026 adjusted

   Based on expectations of average levels of own generation from hydropower,
   wind power and solar power in quarters 3–4/2026 as well as the current
   opportunities and risks identified, VERBUND expects EBITDA of between
   around €2,100m and €2,400m and a reported Group result of between around
   €1,000m and €1,150m in financial year 2026. The adjusted Group result is
   expected to be between €1,050m and €1,200m. VERBUND’s planned payout ratio
   for financial year 2026 is between 45% and 55% of the Group result, after
   adjusting for non-recurring effects.

                                                                 
   KPIs                                                               
                                       Unit Q1–2/2025 Q1–2/2026 Change
   Revenue                             €m     4,036.4   3,593.8 –11.0%
   EBITDA                              €m     1,413.0   1,061.5 –24.9%
   Operating result                    €m     1,113.1     714.0 –35.9%
   Group result                        €m       802.7     518.1 –35.4%
   Earnings per share                  €         2.31      1.49 –35.4%
   EBIT margin                         %         27.6      19.9      –
   EBITDA margin                       %         35.0      29.5      –
   Cash flow from operating activities €m     1,338.4     875.2 –34.6%
   Free cash flow before dividends     €m       769.5     218.9 –71.6%
   Free cash flow after dividends      €m      –559.9  –1,076.8      –
   Performance of VERBUND shares       %         –6.9     –10.3      –
   Gearing                             %         23.2      36.2      –
                                                                 

    

   Additional information and the interim financial report for
   quarters 1–2/2026 can be found at www.verbund.com > Group > Investor
   Relations > Latest financial results and 5-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:[email protected]

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   30.07.2026 CET/CEST This Corporate News was distributed by [1]EQS Group

   View original content: [2]EQS News

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   Language:    English
   Company:     VERBUND AG
                Am Hof 6A
                1010 Vienna
                Austria
   Phone:       0043-1-53113-52604
   Fax:         0043-1-53113-52694
   E-mail:      [email protected]
   Internet:    www.verbund.com
   ISIN:        AT0000746409
   WKN:         877738
   Indices:     ATX
   Listed:      Vienna Stock Exchange (Official Market)
   LEI Code:    5299006UDSEJCTTEJS30
   EQS News ID: 2373940


    
   End of News EQS News Service


   2373940  30.07.2026 CET/CEST

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