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Listed energy group Verbund generated less profit in the first quarter of 2020 due to the corona crisis and lower water supply compared to the previous year.
the
The forecast for full-year earnings is lowered. the
The group’s profit fell 12.1 percent to 156.5 million euros, the
Verbund on Wednesday with.
Due to the crown crisis, the energy industry
The environment changed in a very short time in the first quarter. Prices
for CO2 certificates are in Europe due to lower
The production of electricity decreased, that of coal, gas and oil.
due to the sharp drop in demand in the economy
partly decreased significantly. This environment had a negative impact on the
Wholesale electricity prices impacted.
Regarding crisis management, the association had
reacted to the crisis. Main objective in the current
Covid-19 crisis is the maintenance of the power supply in
Austria. The proven network crisis management organization also
Verbund’s crisis management team is in use and working closely.
Coordination with the state crisis and
Joint civil protection management.
One is thanks to the low debt and the coverage strategy
own well-positioned electricity production by 2020 and
a satisfactory first quarter despite the crisis in the crown
Registered commercial development.
Operating result (EBITDA) decreased 4.9 percent to 331.0
Millions of euros, the group’s result by 12.1 percent to 156.5 million euros.
The increase would have had a positive effect on the result.
2020 derivatives market prices for electricity that are already covered in 2019
and a slightly higher contribution from the areas
Renewables and sales. The result was uploaded by the
lower water supply: it was with a generation coefficient
of 1.09 is 9 percent above the long-term average, but
12 percentage points below the same quarter of the previous year. Additionally negative
would have sunk due to the effects of the crown crisis
Spot market prices for electricity, as well as those due to the decline
Electricity demands lower contributions from network segment profits
impacted Sales increased 4.0 percent to 1,257 million euros. the
Net debt was reduced by 6.7 percent to EUR 2.1 billion.
The earnings outlook for 2020 will shrink. Based on one
the average own generation of hydroelectric and wind energy is now
An EBITDA of around EUR 1.09 billion and EUR 1.25 billion is forecast
instead of around 1.15 to 1.34 trillion euros. The result of the group
Now between 470 and 560 million euros are expected, more recently
Around 510 to around 630 million euros have been forecast. the
The payment index for 2020 is expected between 40 and 50 percent,
based on the consolidated result adjusted for one-off effects.
For Verbund stock on Wednesday in early Viennese trading, it was temporarily down 2.88 percent to EUR 43.22. In the subsequent course, losses will be reduced somewhat. As of late morning, the newspaper is still 1.26 percent lower at 43.94 euros.
(APA) itz / sp
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