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 €950m (previously: approx. €870m) and a Group result of approximately €370m (previously: approx. €320m). 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 €365m (previously: approx. €320m).
The increase in forecast EBITDA to approximately €950m 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 €370m.
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.
