Verbund Q1 Group Result Down 4.3% To EUR 506 Mln
May 8 (Reuters) -Verbund AG VERB.VI:
SLIGHTLY LOWER EARNINGS DESPITE GOOD WATER SUPPLY
EARNINGS OUTLOOK FOR 2024 AS A WHOLE REMAINS VERY HEALTHY, BUT WELL BELOW RESULTS FOR 2023.
Q1 GROUP RESULT WAS DOWN 4.3% TO EUR 506.0M
EARNINGS WERE HARD-HIT BY SHARP DROP IN FUTURES PRICES FOR WHOLESALE ELECTRICITY THAT WERE RELEVANT FOR REPORTING PERIOD
EXPECTS EBITDA OF BETWEEN AROUND EUR 2,800M AND EUR 3,300M AND A GROUP RESULT OF BETWEEN AROUND EUR 1,450M AND EUR 1,750M IN FINANCIAL YEAR 2024.
PLANNED PAYOUT RATIO FOR FINANCIAL YEAR 2024 IS BETWEEN 45% AND 55% OF GROUP RESULT OF BETWEEN AROUND EUR 1,450M AND EUR 1,750M, AFTER ADJUSTING FOR NON-RECURRING EFFECTS
Source text for Eikon: ID:nEQ1qnf9Ta
Further company coverage: VERB.VI
(Gdansk Newsroom)
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