Market Closed -
Wiener Boerse
16:35:26 03/05/2024 BST
5-day change
1st Jan Change
73.8
EUR
-0.07%
+5.65%
-12.20%
Verbund : Investor Presentation Quarter 1/2021
© VERBUND AG, www.verbund.com
VERBUND
Results quarter 1/2021
Vienna, 12/5/2021
© VERBUND AG, www.verbund.com
Influencing factors
Higher average achieved contract prices for own generation from hydro production
Hydro coefficient 1 percentage point below the long term average and 10 percentage points below Q1/2020
Slightly lower contribution from flexibility products
Slightly lower contribution from the high voltage grid
Development of results, cash flows and debt
EBITDA €302.7m (-8.6%)
Group result €144.7m (-7.6%)
Operating cash flow €203.7m (-31.7%); Free cash flow after dividends €35.3m (-76.5%)
Net Debt €1,838.6m (-2.3%)
Outlook range 2021 adjusted
EBITDA between approx. €1,130m and €1,300m, Group result between approx. €480m and €590m (excl. GCA)
Pay-out ratio between 45% and 55% on adjusted Group result
© VERBUND AG, www.verbund.com
Page 3
Lower own generation
Hydro coefficient (run-of-river)
Hedging volumes 20211 / TWh
FY2020: €44.6/MWh
1.35
1.27
1.05
46.2
0.90
0.91
long-term
44.8
44.3
44.1
44.9
MtM (26/4/21):
average
48.9 €
Q1/2020 (1.09)
11.9
8.7
5.7
Q1/2021 (0.99)
16.8
14.4
January
February
March
13.4
16.6
19.2
8.5
10.9
Electricity supply 13,917 GWh (-2,361 GWh, -14.5%)
•
Hydropower: 6,015 GWh (-761 GWh, -11.2%)
31/3/20
30/6/20
30/9/20
31/12/20
31/3/21
• Storage power: 1,106 GWh (-198 GWh)
• Thermal Power: 131 GWh (-444 GWh, -77.2%)
• CCGT Mellach: 131 GWh (-113 GWh)
Achieved contract price
Open volumes
Hedged volumes
Wind: 253 GWh (-62 GWH, -19.7%)
•
PV: 0.3 GWh
1
Hydro production excluding volumes for holders of interests
(at cost) and volumes resulting from pumping.
•
Purchase from third parties: 7,517 (-1,093 GWh)
© 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.
90
-4%
32
31
Q1/2020
Q1/2021
2021E
(Guidance
© VERBUND AG, www.verbund.com
Flex. products)
Page 5
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Verbund AG published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public , unedited and unaltered, on 12 May 2021 06:23:04 UTC .
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Duration Auto. 2 months 3 months 6 months 9 months 1 year 2 years 5 years 10 years Max.
Period Day Week
More charts
Verbund AG is Austria's leading producer and supplier of electricity. Net sales break down by activity as follows:
- production and sale of electricity (84.5%): 63.4 TWh sold in 2022 (of which primarily 30.7 TWh in Austria, 27.5 TWh in Germany and 4.4 TWh in France). At the end of 2022, the group had 163 hydraulic plants, 163 wind parks, 4 solar parks and 2 thermal plants;
- electricity transportation (12.7%): operation of a high-voltage electrical network of 6,959 km;
- other (2.8%): consult engineering, consulting, telecommunications and tourism services, etc.
More about the company
Mean consensus
UNDERPERFORM
Last Close Price
73.8
EUR
Average target price
65.34
EUR
Spread / Average Target
-11.47%
Consensus
1st Jan change
Capi.
-12.20% 27.62B +15.48% 144B +8.17% 82.94B -2.49% 78.45B +3.32% 77.35B -7.13% 68.38B +66.70% 61.4B +9.09% 46.7B 0.00% 45.57B +9.36% 43.08B
Other Electric Utilities
+951% of historical performance
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