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Vienna. The bill is simple: one more euro in wholesale electricity prices brings the Verbund to 1.9 million euros more in the balance. As a result, the rise in electricity prices in the first half of 2018 increased consolidated net income by 47.3% (EUR 227.5 million), even though sales decreased by seven percent to EUR 1.37 billion. For the full year, the company now expects 370 instead of the previous result of 320 million euros. Good development does not go unnoticed on the stock exchanges. With a gain of almost 65%, the Verbund stock is the best paper of the Vienna Stock Exchange this year
But there are more important things for the electricity company than the. often short-term love of investors. After years of restructuring and savings, Verbund is again sitting on a major bank of money. The increase in free cash flow to 356 million euros has brought down the debt to 2.6 billion euros, the lowest level in ten years. At the same time, the company is in a new position: "We have considerably more room for maneuver than we have ever had," says CFO Peter Kollmann.
1.1 billion investment
For the moment, the investment framework of 1.1 billion euros remains unchanged until 2020. But the extensions are "always possible". And for the first time in a long time, the company has returned to the objects of acquisition. Acquisitions also have their place in the new strategy, but caution remains the virtue of the group, so Kollmann to the "press". "Growth as an end in itself" will not exist. It is only when the risk can be well badessed and that the acquisition also offers a strategic added value that Verbund can strike in full awareness. There is currently no company in sight meeting these criteria. (excl.)
("Die Presse", printed edition, 27.07.2018)
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