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Rising prices and water supplies mean the Verbund Group's 2018 earnings are higher than expected. The action wins a lot
20:13, 18 July 2018
Higher average selling prices, better than average water supply in the second quarter and the best results in the network division cause an increase in profits for the Verbund group. After a rise in earnings prospects for the month of May, the electricity group has revised its forecast upward on Wednesday.
Naturally, this news has been very well received by the stock market. Shares of Verbund climbed 5.36% and were Wednesday the biggest winners on the primary market of the Vienna Stock Exchange.
The operating result and profitability of an improved energy environment are gaining more than expected if own generation of hydro and wind power is badumed to be average for the rest of the year. # 39; year. EBITDA is now also seen for the first time higher than in the balance sheet 2017.
Verbund expects a profit of 950 million euros
EBITDA (earnings before interest, taxes, depreciation and amortization) is now estimated at 950 million euros. Up & # 39; now, the forecast was 870 million & # 39; euros in May, it would be a drop in the & # 39; previous year were. Net profit (net income) is expected to reach around 370 million euros (forecast to date: around 320 million euros).
By way of comparison: In 2017, the consolidated result of 301 million euros was 29% lower than the EBITDA 922.3 million euros, 11.7% below the 2016 level.
Group profit adjusted for non-recurring effects increased to 365 million euros this year according to Verbund forecasts (forecast to date: about 320 million euros), Wednesday . Regarding the dividend, it has been estimated that a payout ratio between 40 and 45% for the 2018 financial year, based on the exceptional effects adjusted for the group's result, is expected. For more details on the progress of the business, the Group wishes to comment next week on the presentation of the half-yearly figures on July 26th.
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