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    VER   AT0000746409

VERBUND AG

(VER)
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Investor Presentation Quarters 1-3/2021

11/04/2021 | 02:22am EST

© VERBUND AG, www.verbund.com

VERBUND

Results for quarters 1-3/2021

Vienna, 4/11/2021

© VERBUND AG, www.verbund.com

At a glance

Influencing factors

  • Higher average achieved contract prices for own generation from hydro production (higher short term prices, lower forward prices)
  • Hydro coefficient 1 percentage point below the long term average but 1 percentage point above Q1-3/2020
  • Lower production from reservoirs
  • Higher flexibility products (Q1-3/2021: €112m (+28.6%))
  • Positive contribution from full consolidation of Gas Connect Austria GmbH (full consolidation as at 31 May 2021)

Development of results, cash flows and debt

  • EBITDA €1,150.6m (+16.3%), adjusted EBITDA €1,150.6 (+16.3%)
  • Group result €587.4m (+23.0%), adjusted Group result €566.2 (+20.9%)
  • Operating cash flow €510.6m (-40.1%); Free cash flow after dividends €-595.8m
  • Net Debt €2,776.3m (+47.6%)

Guidance

  • Group level 2021:
    • EBITDA rep. & adj. approx. €1,490m - €1,590m, Group result reported approx. €740m - €810m
    • Pay-outratio 45% - 55% on adjusted
      Group result between approx. €720m - €790m
  • APG 2021: EBITDA approx. €210m
  • GCA 6-12/2021: EBITDA approx. €70m
  • Flexibility products 2021: approx. €140m

© VERBUND AG, www.verbund.com

Page 3

Hedging volumes

Hedging volumes 20211/ TWh

44.1 44.9 47.3

51.6

Hedging volumes 20221/ TWh

MtM

MtM

(26/10/21):

62.0

(26/10/21):

€58.0

49.2

56.3

€88.8

44.6

0.9

8.7

5.7

2.9

23.7

18.0

13.4

10.0

21.4

21.5

16.6

19.2

15.3

12.0

7.4

3.8

31/12/20

31/3/21

30/6/21

30/9/21

31/12/20

31/3/21

30/6/21

30/9/21

Hedging volumes 2023 incl. options1 / TWh

55.1

55.1

60.9

MtM

(26/10/21):

22.1

22.1

20.1

€82.1

2

5.4

3.4

3.4

2 Additional hedging measures by

31/3/21

30/6/21

30/9/21

options amounting to 1.8 TWh

Historic contract prices

  • FY2020: €44.6/MWh
  • FY2019: €39.0/MWh
  • FY2018: €29.3/MWh

Achieved contract price

Open volumes

Hedged volumes

© VERBUND AG, www.verbund.com

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

Page 4

Hydro segment

EBITDA/ €m

+18%

715

842

Q1-3/2020

Q1-3/2021

Hydro coefficient (run-of-river)

1.09

0.99

1.05

1.03

0.86

Q1

Q2

Q3

long-term average

Q1-3/2020 (0.98)

Q1-3/2021 (0.99)

Facts and figures

  • Lower generation from hydropower in Q1-3/2021
    • Hydropower: 23,680 GWh (-2.4%)
    • Slightly higher hydro coefficient in Q1-3/2021 (0.99 vs. 0.98)
    • Storage power: 3,637 GWh (-10.7%)
  • Higher average achieved prices
  • Flexibility products increased by €18m

Current information

  • 480 MW Limberg III pumped- storage power plant project, planned COD 2025
  • 45 MW Reißeck II+ pumped storage power plant project, planned COD 2023

© VERBUND AG, www.verbund.com

Page 5

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

Disclaimer

Verbund AG published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 07:21:12 UTC.


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Verbund AG Technical Analysis Chart | VER | AT0000746409 | MarketScreener
Technical analysis trends VERBUND AG
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
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Sell
Buy
Mean consensus UNDERPERFORM
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Last Close Price 94,95 €
Average target price 78,57 €
Spread / Average Target -17,3%
EPS Revisions
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Michael Strugl Chairman-Management Board & CEO
Peter F. Kollmann Chief Financial Officer
Martin Ohneberg Chairman-Supervisory Board
Karl Stadler Head-Corporate Governance & Compliance
JŘrgen Roth Independent Member-Supervisory Board
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