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MarketScreener Homepage  >  Equities  >  Wiener Boerse  >  Verbund    VER   AT0000746409

VERBUND

(VER)
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VERBUND : Investor Presentation Quarters 1-3/2020

11/05/2020 | 02:12am EST

© VERBUND AG, www.verbund.com

VERBUND

Results for quarters 1-3/2020

Vienna, 5/11/2020

© VERBUND AG, www.verbund.com

At a glance

Influencing factors

  • Higher average achieved contract prices for own generation from hydro production due to higher futures prices - but lower spot market prices because of lower electricity demand from COVID 19
  • Hydro coefficient 2 percentage points below the long term average and 4 percentage points below Q1-3/2019 but higher production from storage power plants
  • Slightly lower contribution from the high voltage grid
  • Lower contribution from flexibility products (especially congestion management)
  • Positive contribution from financial result because of further debt reduction and lower interest rates

Development of results, cash flows and debt

  • EBITDA €989.5m (+4.6%), adjusted EBITDA €989.5 (+4.6%)
  • Group result €477.7m (+6.0%), adjusted Group result €468.3 (+3.3%)
  • EBITDA Margin 39,2 % (Q1-3/2019: 33,5 %)
  • Operating cash flow €852.3m (-4.6%); Free cash flow after dividends €135.8m (-70.0%)
  • Net Debt €2,016.5m (-10.6%)

Outlook range 2020 improved

  • EBITDA between approx. €1,240m and €1,300m, Group result between approx. €570m and €610m
  • Pay-outratio between 40% and 50% on adjusted Group result between approx. €560m and €600m

© VERBUND AG, www.verbund.com

Page 3

Stable own generation

Hydro coefficient (run-of-river)

Hedging volumes 20201/ TWh

FY2019: €39.0/MWh

1.21

1.09

1.05

1.05

49.6

49.5

MtM (27/10/20):

46.2

0.86

0.85

long-term

45.4

44.9

44.7 €

average

5.6

3.0

0.9

Q1-3/2019 (1.02)

11.0

8.8

Q1-3/2020 (0.98)

Q1

Q2

Q3

Electricity supply 50,603 GWh (+147 GWh, +0.3%)

  • Hydropower: 24,268 GWh (+3 GWh, +0.0%)
    • Storage power: 4,073 GWh (+589 GWh)
  • Thermal Power: 808 GWh (-261 GWh, -24.4%)
    • CCGT Mellach: 472 GWh (-274 GWh)
  • Wind: 680 GWh (+17 GWh, +2.6%)
  • Purchase from third parties: 24,847 (+386 GWh)

20.2

22.1

24.3

16.7

14.3

30/9/19 31/12/19 31/3/20 30/6/20 30/9/20

Achieved contract price

Open volumes

Hedged volumes

  • Hydro production excluding volumes for holders of interests (at cost) and volumes resulting from pumping.

© VERBUND AG, www.verbund.com

Page 4

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 07:11:08 UTC


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Sales 2020 3 844 M 4 678 M 4 678 M
Net income 2020 605 M 736 M 736 M
Net Debt 2020 1 873 M 2 279 M 2 279 M
P/E ratio 2020 46,3x
Yield 2020 0,93%
Capitalization 27 880 M 33 938 M 33 927 M
EV / Sales 2020 7,74x
EV / Sales 2021 7,57x
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 80,25 €
Spread / Highest target -15,3%
Spread / Average Target -41,8%
Spread / Lowest Target -57,0%
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
Jürgen Roth Member-Supervisory Board
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