Integrated Annual Report 2025
Anchor
The financial year 2025 was a crucial year for the implementation of our strategy. With a clear course and targeted investments, we are consistently pushing ahead with value-creating growth, climate action and security of supply. Our ambitions are based on three clearly defined strategic pillars:
- Firstly, we are strengthening our integrated market position in our domestic market by expanding and upgrading our hydropower and grid infrastructure, and offering customers comprehensive energy solutions.
- Secondly, we are systematically expanding green electricity generation in Europe – with wind and photovoltaic projects in selected markets.
- Thirdly, we are establishing hydrogen as a future opportunity and develop solutions along the entire value chain that make a substantial contribution to decarbonisation.
2025 was a challenging year, but we are proactively addressing these challenges through strict prioritisation, efficiency increases in operations and flexible financial planning to ensure the implementation of our key topics while also taking advantage of arising opportunities.
“We are witnessing geopolitical conflicts that are impacting supply chains and the availability of gas and oil. The response for Europe and Austria has to be the acceleration of the green transition, which will ensure long-term security of supply, independence, and stability. VERBUND’s goal is a functional, intelligently coordinated, and sustainable electricity system: by expanding renewables in smart synchronization with grid and storage infrastructure, we combine climate protection with economic strength."
CEO VERBUND
Revenue
(€m)EBITDA
(€m)Group result
(€m)(proposed) dividend
(€/share) incl. special dividend
“2025 was a year of consistent implementation: we have firmly established our strategic goals and demonstrated that we can deliver results even in a challenging environment. VERBUND is ideally positioned for the future: we will invest €6.8 billion over the next three years. The majority of the investment will go towards the expansion and maintenance of the regulated Austrian electricity and gas networks. In addition, VERBUND is investing primarily in projects in the field of new renewables and in hydropower. This is a clear signal for growth, shareholder value and security of supply.”
CFO VERBUND
Key figues
Further financial information regarding the annual results from our 2025 Integrated Annual Report is summarised in the Key Figures section. The focus here is on presenting the Group’s results, dividends and our investments. Downloads containing further details are also available.
a total of
25% of electricity generation
should come from wind power and solar photovoltaic systems.we will achieve net-zero
A reduction of at least 90%
in greenhouse gas emissions and the elimination of remaining emissions.
hydropower plants
together have a capacity
of approx. 9,100 MW.km
of trans-regional coverage
are provided by the APG power grid.Sustainable electricity supply for a secure energy future
We don’t rely solely on hydropower: wind and solar power are also key generation technologies at VERBUND. In the long term, we aim for 100% CO2-free electricity generation.
Project Completions in 2025
VERBUND made significant operational progress last year: In the hydropower sector, we were able to significantly expand the flexibility of our generation capacity to support the integration of volatile renewable energy sources. Notable achievements included the commissioning of Reißeck II Plus, the Limberg III pumped storage power plant, and the Stegenwald Salzach power plant.
Storage Power Plant Group Malta-Reißeck
In early June 2025 VERBUND celebrated the completion of extensive modernization and expansion projects at the existing Malta main and upper-stage power plants, as well as the construction of the Reißeck II+ pumped-storage facility and the new Kolbnitz pumping station.
Pumped Storage Limberg III
After approximately four years of construction, Austria’s most modern pumped storage power plant was officially opened in September. By providing highly efficient flexibility, Limberg III makes a crucial contribution to maintaining grid stability and ensuring the country’s energy security.
Stegenwald Salzach Power Plant
The Stegenwald Salzach Power Plant is the seventh power plant to emerge from the successful partnership between VERBUND and Salzburg AG. Together, all of these power plants contribute to achieving Salzburg’s climate and energy goals and enhance the state’s energy resilience.
