VERBUND AG  / Key word(s): Forecast

09.07.2015 09:55

Dissemination of an Ad hoc announcement, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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VERBUND AG's management announced today that the earnings forecast for financial year 2015 is being raised. On the basis of average own generation from hydropower for the rest of the year, VERBUND is expecting EBITDA of around EUR850m (previous forecast: EUR770m) and a Group result of around EUR240m (previous forecast: EUR180m) in financial year 2015. The planned dividend continues to be based on a payout ratio of approximately 50% of the adjusted Group result, which in 2015 will be around EUR240m (previous forecast: EUR180m).

The earnings forecast has been adjusted partly because of the reversal of provisions due to legal settlements expected in the grid segment. Additional positive effects include above-average water supply in the first half of 2015 (1.03), reductions in expenses and improvements in electricity and grid operations. Further improvements stem from lower depreciation and amortisation charges, optimisation measures in the thermal segment and an improvement in the financial result.
These positive effects are set against one-time expenses expected in connection with a planned bond buyback.

With the exception of the expenses for the planned bond buyback, the effects described above have mostly been recognised already in the first half of 2015. EBITDA for Q1-2/2015 will therefore be around EUR480m and the Group result around EUR190m.

Further details of the effects described will be announced when the half-year results are published on 29 July 2015.
 

Contact:
Andreas Wollein
Head of Group Finance and Investor Relations
T.: +43 (0)5 03 13 - 52604
F.: +43 (0)5 03 13 - 52694
mailto:investor@verbund.com


09.07.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      VERBUND AG
              Am Hof 6A
              1010 Wien
              Austria
Phone:        0043-1-53113-52616
Fax:          0043-1-53113-52694
E-mail:       investor@verbund.com
Internet:     www.verbund.com
ISIN:         AT0000746409
WKN:          877738
Indices:      ATX
Listed: Wien (Amtlicher Handel / Official Market)  
End of Announcement DGAP News-Service  

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