The management of VERBUND AG today announced that it has raised its earnings forecast for financial year 2018. In an improved energy market environment, VERBUND AG expects EBITDA of approximately EUR950m (previously: approx. EUR870m) and a Group result of approximately EUR370m (previously: approx. EUR320m). The forecast is based on an assumption of average own generation from hydropower and wind during the rest of 2018. The Group result after adjustment for non-recurring effects is expected to increase to approximately EUR365m (previously: approx. EUR320m).
The increase in forecast EBITDA to approximately EUR950m is primarily due to higher average sales prices, an above-average water supply in quarter 2/2018 and improved earnings in the Grid segment. All of those factors are expected to fuel the increase in the Group result to around EUR370m.
VERBUND is planning a dividend payout ratio of between 40% and 45% of the Group result for financial year 2018 after adjustment for non-recurring effects.
Additional details will be provided on 26 July 2018 when the results for the first half of 2018 are announced.
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18-Jul-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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