Adhoc: Upcoming resolution of outstanding issues related to gas deliveries for Mellach improves earnings outlook
24.08.2016Vienna
Today, the management of VERBUND AG announced that outstanding issues at VERBUND Thermal Power GmbH & Co KG in Liqu. related to gas deliveries for the Mellach power plant are about to be resolved. The parties have agreed not to disclose the terms under which it is planned to resolve the issues.
Due to the effects of these plans to resolve the outstanding issues, VERBUND AG’s management is obliged to raise the earnings outlook for 2016. Based on average water supply and wind levels in the second half of 2016, VERBUND will generate EBITDA of approximately €960m (previous forecast: €840m) and a Group result of approximately €370m (previous forecast: €270m). The 2016 adjusted Group result will remain unchanged at approximately €290m, as this effect is defined as a one-time measure.
Due to the effects of these plans to resolve the outstanding issues, VERBUND AG’s management is obliged to raise the earnings outlook for 2016. Based on average water supply and wind levels in the second half of 2016, VERBUND will generate EBITDA of approximately €960m (previous forecast: €840m) and a Group result of approximately €370m (previous forecast: €270m). The 2016 adjusted Group result will remain unchanged at approximately €290m, as this effect is defined as a one-time measure.
