Verbund increases profits by almost 50%

26.07.2018

The utility company Verbund presented figures for the first half of 2018. The turnover decreased by 7% year-over-year to 1,373.2 millions of euros. The profit development for the 1-2 / 2018 quarters is characterized by high production of hydropower with simultaneously reduced production of thermal power plants and wind power plants, as Verbund informs. EBITDA increased by 21.1% from 415.9 million euros to 503.7 million euros. Consolidated net profit published increased by 47.3% from EUR 154.5 million to EUR 227.5 million. Adjusted for exceptional items, consolidated net profit increased by 43.9%, from EUR 154.5 million to EUR 222.3 million. The exceptional effects of the 1-2 / 2018 quarters mainly concerned the decommissioned nuclear power plants at Dürnrohr and Korneuburg

With a hydroelectric coefficient of 1.08, the water supply to the rivers was 8% above the average long-term and 19 points above the 1-2 / 2017 quarters level. The generation of annual storage plants has also been significantly increased. Hydropower generation increased by 3,088 GWh. In total, Verbund 's own production, at 17,518 GWh, was 15.8% or 2,386 GWh higher than in the same period of the previous year. In addition, a higher contribution to the Networks sector results and the success of cost reduction and efficiency improvement programs in recent years have also had a positive impact on earnings. On the other hand, as in the first quarter of 2012, the turnover of Flexibility Products fell sharply from one year to the next, the quarters 1-2 / 2017 having been extremely positive in the field. flexibility products.

Outlook: "For the fiscal year In 2018, based on an average water supply and an average wind supply, we expect an EBITDA of about 950 million." 39; euros and a consolidated result of about 370 million euros in the second half of 2018. Verbund expects a payout rate of between 40 and 45% for the year 2018 Profit of the group of approximately 365 million euros, adjusted for exceptional effects. "

Photo credits

1. Verbund, Am Hof, main entrance
, (© Josef Chladek / photaq.com) >> Open on photaq.com

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