At a glance ..................................................................................................................................................................
4
Report of the Executive Board ............................................................................................................................
Income statement ..........................................................................................................................................
27
Statement of comprehensive income ....................................................................................................
Responsibility statement of the legal representatives ............................................................................
55
4
At a glance
Higher EBITDA and Group result despite negative impacts of COVID-19 and lower water supply (0.98) compared with quarters 1-3/2019 (1.02)
Acquisition of 51% stake in Austrian gas transmission grid operator Gas Connect Austria GmbH - signing completed, closing expected in first half of 2021
VERBUND shares trend upwards in quarters 1-3/2020 (4.3%) despite COVID-19, significantly outperforming the ATX (-33.8%) and outperforming the DJ STOXX Utilities (-2.9%)
Earnings forecast for 2020 raised: EBITDA to reach between around €1,240m and €1,300m and the Group result to between around €570m and €610m based on expectations of average levels of own generation from hydropower and wind power in quarter 4/2020 as well as the opportunities and risks identified
KPIs
Unit
Q1-3/2019
Q1-3/2020
Change
Revenue
€m
2,826.8
2,522.7
- 10.8%
EBITDA
€m
946.1
989.5
4.6%
EBITDA adjusted
€m
946.1
989.5
4.6%
Operating result
€m
675.9
692.9
2.5%
Group result
€m
450.9
477.7
6.0%
Group result adjusted
€m
453.3
468.3
3.3%
Earnings per share
€
1.30
1.38
6.0%
EBIT margin
%
23.9
27.5
-
EBITDA margin
%
33.5
39.2
-
Cash flow from operating activities
€m
893.8
852.3
- 4.6%
Additions to property, plant and equipment
€m
230.8
362.1
56.9%
Free cash flow before dividends
€m
629.9
427.1
- 32.2%
Free cash flow after dividends
€m
451.8
135.8
- 70.0%
Average number of employees
2,762
2,858
3.5%
Electricity sales volume
GWh
47,562
47,344
- 0.5%
Hydro coefficient
1.02
0.98
-
Wind supply
0.99
1.02
Unit
31/12/2019
30/9/2020
Change
Total assets
€m
11,838.6
11,789.5
- 0.4%
Equity
€m
6,568.0
6,788.5
3.4%
Equity ratio (adjusted)
%
57.7
59.8
-
Net debt
€m
2,256.1
2,016.5
- 10.6%
Gearing
%
34.4
29.7
-
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Verbund AG published this content on 05 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2020 07:11:09 UTC
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