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MarketScreener Homepage  >  Equities  >  Wiener Boerse  >  Verbund    VER   AT0000746409

VERBUND

(VER)
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VERBUND : Interim report quarters 1-3/2020

11/05/2020 | 02:12am EST

Shaping a sustainable energy future.

Our drive. Our energy.

Interim report quarters 1-3/2020

INTERIM FINANCIAL REPORT Contents

3

Contents

At a glance ..................................................................................................................................................................

4

Report of the Executive Board ............................................................................................................................

5

Investor relations .....................................................................................................................................................

8

Interim Group management report ...............................................................................................................

10

Business performance .................................................................................................................................

10

Opportunity and risk management .......................................................................................................

18

Segment report ...............................................................................................................................................

19

Events after the reporting date .................................................................................................................

26

Consolidated interim financial statements ................................................................................................

27

Income statement ..........................................................................................................................................

27

Statement of comprehensive income ....................................................................................................

28

Balance sheet ..................................................................................................................................................

29

Statement of changes in equity ................................................................................................................

30

Cash flow statement .....................................................................................................................................

32

Selected explanatory notes ........................................................................................................................

34

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

-

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

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


© Publicnow 2020
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Financials
Sales 2020 3 844 M 4 642 M 4 642 M
Net income 2020 605 M 730 M 730 M
Net Debt 2020 1 873 M 2 261 M 2 261 M
P/E ratio 2020 43,1x
Yield 2020 1,00%
Capitalization 25 987 M 31 419 M 31 379 M
EV / Sales 2020 7,25x
EV / Sales 2021 7,09x
Nbr of Employees 2 858
Free-Float 34,3%
Chart VERBUND
Duration : Period :
Verbund Technical Analysis Chart | VER | AT0000746409 | MarketScreener
Technical analysis trends VERBUND
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 13
Average target price 46,72 €
Last Close Price 74,80 €
Spread / Highest target -9,09%
Spread / Average Target -37,5%
Spread / Lowest Target -53,9%
EPS Revisions
Managers and Directors
NameTitle
Michael Strugl Chairman & Chief Executive Officer
Thomas Schmid Chairman-Supervisory Board
Peter F. Kollmann Chief Financial Officer
Kurt Christof Member-Supervisory Board
JŁrgen Roth Member-Supervisory Board
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ORSTED A/S-5.79%80 035
DUKE ENERGY CORPORATION0.60%67 789