EQS-News: VERBUND AG: results for quarters 1–3/2026 impacted by historically low water supply and lower sales prices

EQS-News: VERBUND AG / Key word(s): Quarter Results/9 Month figures
   VERBUND AG: results for quarters 1–3/2026 impacted by historically low
   water supply and lower sales prices

   05.11.2026 / 07:58 CET/CEST
   The issuer is solely responsible for the content of this announcement.

   ══════════════════════════════════════════════════════════════════════════

   VERBUND’s earnings performance was significantly impacted in
   quarters 1–3/2026 by the historically low water supply and declining sales
   prices achieved for the Group’s own generation from hydropower. EBITDA
   dropped by 29.0% year-on-year to €1,498.5m and the Group result fell by
   43.5% to €684.8m. After adjustment for non-recurring effects, the Group
   result was €725.0m, a decrease of 37.3% on the prior-year figure. Higher
   earnings contributions from the Sales segment and All other segments
   offset these negative effects to some extent.

   Hydropower generation down 20.2% year-on-year

   At 0.61, the hydro coefficient for the run-of-river power plants was
   18 percentage points below the level recorded in the previous year (0.79)
   and 39 percentage points lower than the long-term average. Generation from
   the annual storage power plants declined by 10.6% compared with the
   prior-year reporting period. Total electricity generation from hydropower
   plants fell by 4,047 GWh, or 20.2%, to 15,984 GWh.

   By contrast, generation from wind power and photovoltaic installations
   rose by 70 GWh to 1,622 GWh due to new facilities being put into initial
   operation. This increase was achieved in spite of generation conditions
   falling short of targets: the generation coefficient for wind and
   photovoltaic power stood at 0.80, 20 percentage points below the planned
   value and 1 percentage point lower than the prior-year figure of 0.81. As
   generation from thermal energy remained virtually unchanged, VERBUND’s
   total own generation was therefore down 17.6% on the previous year.

   Sharp drop in sales price achieved for hydropower

   In addition to lower generation, earnings were further impacted by the
   lower average sales price achieved for own generation from hydropower,
   which fell by €33.8/MWh year-on-year to €79.7/MWh.

   There are two factors behind this decline. In quarters 1–3/2025, VERBUND
   had benefited in particular from premature “limit” sales effected in 2023
   at high wholesale prices. In the current reporting period, however,
   extensive buybacks to cover electricity volumes that had already been sold
   but not generated due to the low water supply reduced the sales price
   achieved. These buybacks had to be made at much higher spot market prices.

   Mixed performance of segment contributions

   In the Hydro segment, lower generation and the lower sales prices achieved
   led to a significant drop in earnings. The earnings contribution from the
   New renewables segment also fell short of the prior-year level due to
   weaker sales prices, despite larger volumes of electricity being generated
   in this segment. The earnings contribution of the Grid segment registered
   a slight decline.

   This stands in contrast to the Sales segment and All other segments, which
   recorded much higher earnings contributions. In the Sales segment,
   earnings were bolstered in particular by higher contributions from the
   end-customer business and positive measurement effects, while All other
   segments benefited from growth in the thermal business resulting from high
   spreads, especially at the beginning of the year.

   The contribution from flexibility products was up 3.1% to €241.0m in
   quarters 1–3/2026.

   Earnings forecast for 2026 adjusted

   VERBUND has specified its guidance for financial year 2026, and based on
   the current opportunities and risks identified, expects EBITDA of around
   €2,120m, a reported Group result of around €1,010m and an adjusted Group
   result of around €1,050m. These projections supersede the previously
   published forecast ranges.

   The updated forecast takes account of below-average water supply in
   October 2026. For November and December 2026, the guidance assumes average
   own generation from hydropower, wind power and photovoltaics.

   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 Q1–3/2025 Q1–3/2026 Change
   Revenue                             €m     5,876.7   5,560.4  –5.4%
   EBITDA                              €m     2,111.1   1,498.5 –29.0%
   Operating result                    €m     1,658.6   1,005.6 –39.4%
   Group result                        €m     1,212.2     684.8 –43.5%
   Earnings per share                  €         3.49      1.97 –43.5%
   EBIT margin                         %         28.2      18.1      –
   EBITDA margin                       %         35.9      26.9      –
   Cash flow from operating activities €m     1,653.8   1,216.3 –26.5%
   Free cash flow before dividends     €m       755.1      78.0 –89.7%
   Free cash flow after dividends      €m      –574.3  –1,217.7      –
   Performance of VERBUND shares       %        –11.6       4.8      –
   Gearing                             %         22.4      37.9      –
                                                                 

    

   Additional information and the interim financial report for
   quarters 1–3/2026 can be found at www.verbund.com > Group > Investor
   relations > Latest financial results 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:[email protected]

   ══════════════════════════════════════════════════════════════════════════

   05.11.2026 CET/CEST This Corporate News was distributed by [1]EQS Group

   View original content: [2]EQS News

   ══════════════════════════════════════════════════════════════════════════

   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: 2428768


    
   End of News EQS News Service


   2428768  05.11.2026 CET/CEST

   https://nwr.eqs-cockpit.com/fncls2.ssx?application_id=2428768&application_name=news&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf

References

   Visible links
   1. https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&url=f5d50dc7e8798b6eb177f7955e598e60&application_id=2428768&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news
   2. https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&url=fdb1878bd2467738daef648dce037b86&application_id=2428768&site_id=apa_ots_austria~~~18b544d0-9c71-4160-bd95-cc8b9aff9fbf&application_name=news

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |

print