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MarketScreener Homepage  >  Equities  >  Wiener Boerse  >  Verbund    VER   AT0000746409

VERBUND

(VER)
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VERBUND : Investoren-Präsentation pdf 1,2 MB

11/05/2020 | 04:57am 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

Flexibility products slightly decreased

  • Increasing system volatility in the European grid system due

to rapid development of new renewables

  • Demand for flexibility products depending on the following influencing factors:

• Temperatures/weather in winter/summer

    • Revision of nuclear power plants
    • Hydro production
    • Installation of phase shifters
    • Congestion management within Austria (in addition to DE/AT)
  • Flexibility products include control energy, congestion management, grid system services, intraday trading, capacity/cold reserve and pumping/reverse operations

Flexibility products/ €m

approx.

-3%

110

90

87

Q1-3/2019

Q1-3/2020

2020E

Actuals

Actuals

(Guidance

© VERBUND AG, www.verbund.com

Flex. products)

Page 5

Slightly lower result contribution from high voltage grid

Grid EBITDA/ €m

RAB 2019: €1,458m

RAB 2020: €1,692m

Local GAAP: stable earnings and cash flows

approx.

240

170

168

180

141

110

Local GAAP

IFRS

Q1-3/2019

Q1-3/2020

2020E

(Guidance Grid)

Grid FY 2019/ km

  • Differences between revenues and planned revenues compensated by a regulatory account

IFRS: volatile earnings

  • Revenue surpluses or shortfalls are not utilised/compensated via the regulatory account
  • Volatility in IFRS from: control energy, auctioning off of cross- border grid capacities, congestion management services

Voltage Level

Route length

System length

380-kV

1,156

2,583

220-kV

1,613

3,206

110-kV

656

1,170

110-kV (cable)

3

6

Total

3,428

6,965

Grid EBITDA in Q1-3/2020 (IFRS) almost unchanged

Strong increase in grid guidance from €200m to €240m (IFRS)

  • Lower expenses for congestion management due to better weather situation

WACC for regulatory period (2018-2022)

  • Approximately 5% (4.88% pre tax for existing assets, 5.20% pre tax incl. investment-markup for new assets)

© VERBUND AG, www.verbund.com

Page 6

Non-recurring effects

€m

Detail

Q1-3/2020

EBITDA

0

Impairments

CCGT Mellach, HPP Graz & Gries, others

-15

Operating result

Total

-15

Other financial result

Measurement of an obligation to return an interest (DKJ)

26

Imapirments

HPP Ashta

-1

Financial result

25

Taxes

Effects due to the non-recurring effects above

-3

Minorities

1

Group result

Total

9

Q1-3/2019

0

-1

-1

-2

0

-2

1

0

-2

© VERBUND AG, www.verbund.com

Page 7

Key financial figures (1)

EBITDA/ €m

Group result/ €m

+5%

+6%

946

946

990

990

451

453

478

468

Reported

Reported

Adjusted

Adjusted

Q1-3/2019

Q1-3/2020

Q1-3/2019

Q1-3/2020

Margins/ %

Additions/ €m

to tangible assets

33.5

39.2

EBITDA margin

EBIT margin

23.9

27.5

Q1-3/2019

Q1-3/2020

+57%

362

231

Q1-3/2019

Q1-3/2020

© VERBUND AG, www.verbund.com

Page 8

Key financial figures (2)

Operating cash flow/ €m

-5%

894

852

Q1-3/2019

Q1-3/2020

Net debt/ €m

-11%

2,256

2,017

31.12.2019

30.9.2020

Free cash flow after dividends/ €m

452

-70%

136

Q1-3/2019

Q1-3/2020

Gearing/ %

34.4

29.7

31.12.2019

30.9.2020

© VERBUND AG, www.verbund.com

Page 9

Financial liabilities

Debt maturity profile/ €m

525

162

11

30

25

25

20

12

10

2020

2021

2022

2023

2024

2025

2026

2027 >2027

Financial liabilities/ €mn

1,242

-18%

1,016

Q1-3/2019

Q1-3/2020

Financial liabilities

Interest mix

Rating

Book value Financial liabilities: €1,016m

79% fixed interest rate

21% floating interest

A/stable outlook

Financial ratios

rate

Duration: 4.1 years

Currency

Effective interest rate: 2.30% p.a.

A3/stable outlook

• 100% EUR

  • Uncommitted lines of credit: approx. €610m*
  • Syndicated loan: €500m

© VERBUND AG, www.verbund.com * thereof used: €190m

Page 10

CAPEX plan 2020-2022(total of €2,077m)

Growth CAPEX/ €m (total of €1,287m)

517

73

427

343

184

51

86

10

119

239

243

237

8

18

20

2020

2021

2022

Maintenance CAPEX/ €m (total of €790m)

271

282

238

133

159

153

0

0

104

0

62

92

33

23

31

2020

2021

2022

© VERBUND AG, www.verbund.com

Hydro segment

New renewables segment

Grid segment Others

Hydro segment

New renewables segment

Grid segment Others

Page 11

Outlook

Sensitivities 2020

A change of 1% (generation from hydropower/windpower) or €1/MWh (wholesale price) either way would be reflected as follows in the group result for 2020, other things being equal:

  • Greater or less generation from hydropower: +/- €1.5m
  • Greater or less generation from windpower: +/- €0.2m
  • Wholesale prices (renewable generation): +/- €0.7m

Earnings outlook 2020 improved

EBITDA between approx. €1,240m and approx. €1,300m and Group result between approx. €570m and approx. €610m based on an average generation from hydropower and windpower in Q4/2020 as well as the opportunities and risk situation of the Group.

For financial year 2020, VERBUND plans to pay out between 40 and 50% of the Group result after adjustment for non-recurring effects amounting to between €560m and €600m.

Hedging volumes 20211/ TWh

48.6

49.0

MtM (27/10/20):

44.3

46.2

44.8

44.3

43.0 €

23.2

22.3

21.3

16.8

14.4

11.9

8.5

10.9

13.4

3.0

3.9

2.0

30/6/19

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

30/6/20

30/9/20

Hedging volumes 20221 / TWh

43.2 42.7 44.4

MtM (27/10/20): 44.1 €

24.0 23.5 22.5

1.3 1.9 2.8

31/3/20 30/6/20 30/9/20

Achieved contract price

Open volumes

Hedged volumes

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

© VERBUND AG, www.verbund.com

Page 12

Equity story - Gas Connect Austria

  • Positive effect on all relevant Group KPIs

1

Encouraging trend in KPIs EPS and cash flow are increasing

  • Greater dividend potential
  • Improvement in the business profile
  • Optimum positioning of sector coupling
  • Optionality for the hydrogen economy
  • Significant improvement in the share of regulated business in Group EBITDA
  • In a stronger position to cushion volatility in electricity prices
    • Expansion of value chain in the gas sector
    • Optimum positioning for the energy system integration being pushed by the European Commission
  • Opening up of investment opportunities arising in the hydrogen economy
  • Concentration on infrastructure components enables the element of risk in future investment decisions to be minimised

5

Operator of critical

After APG, GCA is Austria's most important infrastructure company in the energy industry

infrastructure

GCA plays a crucial role in supplying gas to Austria and other European countries

© VERBUND AG, www.verbund.com

Page 13

Gas Connect Austria - Overview

GCA holds 100% of the internally managed assets and 15.5%(1) of the TAG pipeline

Ownership structure

49%

51%

15.5%(1)

Trans Austria

Gasleitung GmbH

  • Gas pipeline operated: TAG
  • Owner: SNAM (84.5%)

KPIs

(€m)

2019

Revenue

211.7

EBITDA

127.6

% margin

60%

TSO RAB

c.700

DSO RAB

c.150

Employees (#)

c.280

Gas transmission system

WAG

Oberkappel

MAB

Linz

Vienna

Baumgarten

Burghausen

PW

KIP

PDS

HAG

Salzburg

TAG I + II

Innsbruck

TAG II

SOL

TAG I

Spielfeld

Arnoldstein

DN

Bi-

Gas pipeline

Share

km

(mm)

directional Operator

Trans-Austria (TAG)

16%

1,140

900-1,200

TAG

West-Austria (WAG)

100%

385

800, 1,200

GCA

Süd-Ost (SOL)

100%

26

500

GCA

Hungaria-Austria (HAG)

100%

45

700

GCA

Penta-West (PW)

100%

95

700

GCA

Kittsee-Petrzalka pipeline (KIP)

100%

4

500

GCA

March-Baumgarten pipeline (MAB)

100%

3

500

GCA

Primary distribution system (PDS)

100%

330

100-1,200

GCA

GCA's main gas pipelines

Trans-Austria pipeline (TAG)

  • Bidirectional pipeline
  • Annual capacity: 44.3 bcm m3
  • Supplies Austria as well as Croatia, Italy and Slovenia
  • Start of operation: 1974

West-Austria pipeline (WAG)

  • Bidirectional pipeline
  • Annual capacity: 13.1 bcm m3
  • Supplies Austria and connected to Germany, France and Central Europe
  • Start of operation: 1980

Süd-Ost pipeline (SOL)

  • Sections of the TAG near Weitendorf and continuation to Slovenia and Croatia
  • Annual capacity: 3.6 bcm m3
  • Supplies Slovenia and Croatia
  • Start of operation: 1978

Penta-West pipeline (PW)

  • Bidirectional pipeline
  • Annual capacity: 3.7 bcm m3 (DE - AT) and 5.7 bcm m3 (AT - DE)
  • Supplies Germany and France (east-west) and Central Europe (west-east)
  • Start of operation: 1999

Hungaria-Austria pipeline (HAG)

Gas transmission from Austria to Hungary

Annual capacity: 4.9 bcm m3

Source: Company information 1) Economic interest of 10.78%.

Start of operation: 1996

© VERBUND AG, www.verbund.com

Page 14

Appendix

© VERBUND AG, www.verbund.com

Sustainability@VERBUND

Sustainability is the core element of VERBUND's vision

Our focus is on customised, sustainable electricity products and energy-related services that enable our

environmentally aware customers to make efficient use of energy. We are also working to shape the future of energy

by offering innovative solutions - from electromobility to developing new technologies for flexible storage.

Since January 2019 VERBUND supports the UN Global Compact - the world's largest corporate sustainability

initiative of the United Nations. VERBUND is committed to support the 17 Sustainable Development Goals (SDGs)

and the ten universal principles deriving from Labour/Human Rights/Environment/Anti-Corruption.

On the way to decarbonization/

g CO2e/kWh

56

41

31

34

32

2015

2016

2017

2018

2019

Specific THG emissions Scope 1 referred to the total

electricity generation incl. warrants without consideration

of generated district heat; provisional data before

© VERBUND AG, www.verbund.com

verification.

Page 16

Sustainability rating & rankings

20.2/100 points

Gold Status

Top 10% out of 50,000 rated companies

ISS-oekom "B" rating

  1. rating, leader category among 144 utility companies

all data as at 31/12/2019

© VERBUND AG, www.verbund.com

being part of

Page 17

VERBUND - market leader in green finance

2014

2015

2018

2018

Sustainable investment of

First Green Bond in

First digital, green

First 100% ESG-linked

funds for social capital

German speaking area

"Schuldschein"

syndicated loan

  • €500m
  • 10 years
  • 1.5 % p.a.
  • Use of proceeds:
    • Wind parks in Germany
    • Wind park in Lower Austria
    • Reisseck II
    • Efficiency improvement R-o-R power plant Ybbs

Investments of funds for social

€100m

€500m

capital according to

10 years

5 years

sustainable criteria:

1.566 % p.a.

Company-related premium

Application of UN

• Platform of VC Trade

on the base rate over the

Principles of Responsible

Use of proceeds:

entire term is purely

Investments

Revitalisation of 220-kV-high

determined according to the

Investments into securities

voltage power line in Upper

sustainability rating

rated as sustainable

Austria (110 km long)

investments according to

social, ecological and

ethical criteria

  • Definition of exclusion criteria (nuclear power, energy, arms, child labor etc.)

© VERBUND AG, www.verbund.com

Page 18

Overview of Austria's gas transmission network

Due to its geographic location, Austria's gas network serves as a hub and a transit route for the transmission of natural gas imported from countries in Western and Southern Europe

Oberkappel

GWh/d

GCA

GRT-

373.1

D/OGE

GCA

GRT-

200.6

WAG

OberkappelRainbach

MAB/WAG

D/OGE

Vienna

Baumgarten

PW

KIP

Lower Austria

Überackern(2)

GWh/d

HAG

Upper Austria

Burgenlan

GCA

Bayernets

154.4

d

GCA

Bayernets

114.0

Vorarlberg

Market AreasTyrol

Salzburg

Market Area East

Styria

Arnoldstein

GWh/d

Vorarlberg and Tyrol

East

Tyrol

Carinthia

TAG

Snam

1,040.9

SOL

TAG

TAG

Snam

0

GCA (TSO)

GCA (DSO)

TAG (TSO)

Exit capacity

Murfeld

GWh/

d

Entry/exit point

Compressor station

Entry capacity

GCA

Plinovodi

80.2

Baumgarten

GWh/d

GCA

Eustream

206.3

GCA

Eustream

425.5

TAG

Eustream

1,011.9

Petržalka GWh/d

GCA

Eustream

0

Moson-Mag.

GWh/d

GCA

FGSZ

149.9

Highlights

Two main actors in the gas transmission

market:

The main TSO, GCA, which connects

Austria with Slovakia (through

Baumgarten, KIP and MAB), Germany

(through WAG and PW), Slovenia

(through SOL) and Hungary (through

HAG)

TAG, which connects Austria with Italy

through the TAG pipeline

The Baumgarten interconnection point

with Slovakia is Austria's main entry point

for natural gas and also a hub between

the two main long-distance pipelines,

WAG and TAG, as well as HAG and MAB

Main transit routes through Austria:

Baumgarten -

Oberkappel/Ueberackern,

Gas flows through the Austrian transmission network

Gas demand in Austria

Entry volume (bcm)

Exit volume (bcm)

Volume (bcm)

47

43

46

43

46

38

36

35

35

8

6

4

4

4

2

34

2

3

2

4

2

4

3

1

4

1

2

39

38

42

40

42

3

1

3

2

28

27

28

28

28

8

9

10

9

10

2015 2016 2017 2018 2019

2015 2016 2017 2018 2019

2015 2016 2017 2018 2019

NW European gas

Total

Italy

Germany

Hungary

Demand

Sources: ENTSOG, company information, Aurora Energy Research Gas Model, Eurostat.

Note: Booked (company-specific) entry/exit capacity in GWh/d in March 2020; Überackern ABG/Überackern SUDAL entry/exit point is reflected as mutually exclusive set-up points with competing physical capacity.

transmission of Russian gas to

Germany and more recently also gas

from Northwest Europe to Ukraine via

Slovakia using bidirectional pipelines

Baumgarten - Arnoldstein,

transmission of Russian gas to Italy

The GCA infrastructure acts as a hub in

the Austrian gas infrastructure by

providing flexibility and maximising

opportunities to respond to the range of

flow scenarios required by the market

dynamics

© VERBUND AG, www.verbund.com

Page 19

VERBUND & GCA: sector coupling

The transaction will allow the sector coupling being pushed by the EU to be accelerated in Austria

Overview

Existing projects and partners

  • The transaction will facilitate closer cooperation between the sectors of electricity generation (VERBUND), electricity transmission (APG) and gas transmission/distribution/storage (GCA)
  • The potential value chain could allow volatile electricity generated by VERBUND to be converted into H2 or "green methane" through power to gas (P2G) and subsequently stored and delivered to the industry (e.g. steal industry, refineries) and the mobility sector (e.g. heavy transporters, trains/buses) using the GCA network
  • Likewise, gas could be used for electricity generation ("re-electrification") and its subsequent transmission to the APG grid.
  • As part of the H2FUTURE project, VERBUND and APG have already delivered a concrete example for sector coupling through the electrolysis operation supporting the grid.
  • The project involves construction of the first Siemens electrolyser of its kind to produce H2 for voestalpine's steel plants and provide balancing services for the grid
  • Under the umbrella of the "UpHy" joint project by VERBUND and OMV, GCA's majority shareholder, research is being conducted into H2 production for use in the mobility sector and refineries

Illustrative energy system with a high degree of sector coupling

Electricity grid

Electricity to gas

Electrolysis

Wind power

Hydro

Solar PV

Non-RESCO2

Methanation

Pure hydrogen

Mixture

Biogas

H

H

Carbon

Natural gas

LNG CCS

H

H

SMR/PYR

Gas network

Gas network

Electricity grid

Sources: ENTSOG, company information

Gas to electricity

Gas turbines

Fuel cells

CHP

Hydrogen

Electric vehicles

Processes Low temperature

Heat pumps

Transport

Industry

Heating

CNG/LNG

H2 mobility

Processes and chemical raw materials

High temperature

Pumps, fuel cells

Boilers, hybrid heating

Renewable energy (RES)

© VERBUND AG, www.verbund.com

Page 20

Gas Connect Austria - operator of critical infrastructure

GCA operates highly flexible natural gas transmission and distribution infrastructures that are vital for the Austrian and European gas supply network

Overview

  • Largest natural gas transmission company in Austria operating an approximately 900 km-longhigh-pressure pipeline grid with sold entry and exit capacity of approx. 143 bcm per year
  • The cross-border interconnection hub in Baumgarten is Austria's biggest entry point, also serving as one of Europe's most important hubs for receiving gas being imported from Russia
  • GCA's large share of physical interconnection points allows for flexible gas flows, including reverse flows, to accommodate changes in demand or changes in European gas flow patterns

Critical infrastructure at the centre of European gas flows

WAG

Oberkappel

Kirchberg

PDS

Rainbanch Lower Austria

MAB/WAG

PW

Upper Austria

Heimisch

Vienna

Baumgarten

Fields

KIP

EggendorfBurgenland

Vorarlberg

Grafendorf

HAG

Tyrol

Salzburg

TAG

Market Area East

Market Areas

Vorarlberg

Styria

and Tyrol

East Tyrol Carinthia

Weitendorf

Ruden

SOL

TAG

GCA TSO

GCA DSO(4)

TAG TSO

Entry/exit points

GCA compressor station

TAG compressor station

GCA physical nomination point

GCA virtual(4) entry/

TAG physical nomination point

TAG virtual(4) exit nomination point

physical exit nomination point

Baumgarten

100bcm of cumulative

put into operation

Russian gas deliveries

by OMV

reach Baumgarten

Austria's high-pressure transmission network consists of

14 bookable entry and 15 bookable exit points

Evolution

GCA becomes an active

Decoupling of

GCA is established as a

TAG and

Rapid reconstruction after

founding member

standalone entity of OMV

integration

incident in Baumgarten

of ENTSOG

of BOG into GCA

1959

1968

1998

2001

2009

2012

2013

2014

2015

2016

2018

GCA to be certified by

GCA sells 45% of its

GCA becomes an active

OMV acquires remainder

Austria receives the first

E-Control

interest in AGGM to Netz

founding member of

of shares in BOG from

E-Control reaffirms GCA as

OMV sells 49% of its stake

delivery of gas from

in 2015 as ITO

NÖ,

PRISMA (European online

GRTgaz (34%) and

market area manager

in GCA to Allianz and Snam

Russia

and market area

Netz OÖ and Energienetze

auction platform for gas

E.ON (15%)

manager

Steiermark(2)

shipments)

Sources: Company information.

  1. Participation in TAG through a 15.53% equity interest - in addition to the statutory dividends (which represent economic rights of 10.78%), GCA benefits from a participation right.
  2. In 2013, GCA sold a further 4% in AGGM to TIGAS and Vorarlberger Energienetze.
  3. A total of 322 km of the primary distribution system are classified as distribution pipelines as per the Austrian Gas Act (GWG); 7 km of the primary distribution systems are classified as transmission pipelines, ranging from Marchdüker on the border with Slovakia to Baumgarten.
  4. No physical gas flow to/from Austria. Virtual entry/exit possible up to the number of physical entry/exit nominations.
  5. Information exclusively for GCA Group, excluding TAG (presented using the equity method of accounting)

© VERBUND AG, www.verbund.com

Page 21

Hydrogen imports are indispensable for decarbonisation of Austria by 2040

Reasons why Austria should import

"An international hydrogen market allows hydrogen and synthetic fuels to be imported on a large scale. The objective should be to ensure that these energy sources are produced abroad from renewable energy sources."

2050 LTS, Federal Ministry of Sustainability and Tourism

  • Virtually impossible to produce all required hydrogen locally in Austria (resource requirements)
  • Establishment of adequate power infrastructure expensive and hampered by bureaucratic obstacles
  • Early import ambitions may accelerate rapid

connection to international H2 infrastructure

A worldwide import/export market for green H2 is

generally regarded as a natural final stage

Hydrogen production costs outside the EU are

Outside-in assessment

725 kt

740 kt

Potential

import gap1

15 kt

Green H2

Delta

Total green H2

production in

required in

Austria in

Austria in 2040

20202

Costs per

MW/h H2

€ 44

€ 62

Difference in

cost

€ 18

Cost of

Delta Cost of producing

producing

H2 in Austria

H2 in

Morocco

substantially lower than in Austria

Import & distribution only possible with pipelines, no

guarantee of "timely" connection to the international

grid

  • Higher risk of dependence on third countries could cause political problems

1. Outside-in assessment 2. Based on the IEA hydrogen project database: Total no. of active projects with 100% annual capacity utilisation, 2020. Sources: Austria's 2050 long-term strategy; discussions with experts; public reports; BCG analysis.

© VERBUND AG, www.verbund.com

Page 22

Income statement

€m

Q1-3/2019

Q1-3/2020

Total

Total

Revenue

2,826.8

2,522.7

Electricity revenue

2,316.6

2,064.3

Grid revenue

412.7

357.7

Other revenue

97.5

100.7

Other operating income

46.8

54.4

Expenses for electricity purchases & use of fuels

-1,531.9

1,159.0

Other operating & personnel expenses

-395.6

-428.6

EBITDA

946.1

989.5

Depreciation & amortisation

-269.5

-282.0

Effects from impairment tests

-0.7

-14.6

EBIT

675.9

692.9

Result from equity interests & oth. interests

38.8

34.6

Interest income/expense

-62.2

-38.0

Other financial result

10.4

21.1

Effects from impairment tests

0.0

-0.8

Financial result

-13.0

16.8

Taxes

-145.5

-162.1

Group result

450.9

477.7

Minorities

66.5

69.9

Earnings per share (€)

1.30

1.38

© VERBUND AG, www.verbund.com

Page 23

Balance sheet (short version)

€m

31.12.2019

30.9.2020

Change

Non-current assets

11.062

11.149

1%

Current assets

777

640

-18%

Total assets

11.839

11.789

0%

Equity

6.568

6.788

3%

Non-current liabilities

4.107

3.982

-3%

Current liabilities

1.163

1.019

-12%

Total liabilities

11.839

11.789

0%

© VERBUND AG, www.verbund.com

Page 24

Cash flow statement (short version)

€m

Q1-3/2019

Q1-3/2020

Change

Cash flow from operating activities

894

852

-5%

Cash flow from investing activities

-172

-423

-

Cash flow from financing activities

-743

-422

-

Change in cash and cash equivalents

-21

7

-

Cash and cash equivalents at the end of

18

52

-

the period

© VERBUND AG, www.verbund.com

Page 25

Capital market calendar 2021

17/3/2021

Annual result and publication of annual report 2020

10/4/2021

Record date for Annual General Meeting

20/4/2021

Annual General Meeting

27/4/2021

Ex-dividend date

28/4/2021

Record date for dividends

10/5/2021

Dividend payment date

12/5/2021

Result and interim report quarter 1/2021

29/7/2021

Result and interim report quarters 1-2/2021

4/11/2020

Result and interim report quarters 1-3/2021

© VERBUND AG, www.verbund.com

Page 26

Management

Wolfgang Anzengruber

Michael Strugl

CEO, Chairman of the Managing Board

Deputy Chairman of the Managing Board

Peter Kollmann

Achim Kaspar

CFO, Member of the Managing Board

Member of the Managing Board

© VERBUND AG, www.verbund.com

Page 27

Investor relations team

Andreas Wollein

Head of Group Finance, M&A

Martin Weikl

and Investor Relations

Senior Investor Relations Manager

T +43(0)503 13-52614

T +43(0)503 13-52616

andreas.wollein@verbund.com

martin.weikl@verbund.com

Stefan Wallner

Investor Relations Manager

  • +43(0)503 13-52617 stefan.wallner@verbund.com

© VERBUND AG, www.verbund.com

Page 28

Disclaimer

Verbund AG published this content on 30 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2020 09:56:04 UTC


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