VERBUND : Investor Presentation Quarters 1-3/2020

11/05/2020 | 02:12am EST

VERBUND

Results for quarters 1-3/2020

Vienna, 5/11/2020

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

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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)

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.

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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 07:11:08 UTC

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VERBUND : Investor Presentation Quarters 1-3/2020

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