Verbund Raises Earnings Forecast and Dividend for 2014

EnergyUtilities ♦ Published: January 22, 2015; 18:00 ♦ (Vindobona)

Verbund AG announced today that the earnings forecast for financial year 2014 is being raised. Verbund expects EBITDA of around €800m (previous forecast: €770m) and a Group result of around €125m (previous forecast: €85m) in financial year 2014. The planned dividend continues to be based on a payout ratio of approximately 50% of the adjusted group result which in 2014 will be around €210m (previous forecast: €190m).

Verbund raises earnings forecast and dividend for 2014 / Picture: ©

This adjustment of the earnings forecast is mainly attributable to the following:

Better water supply and increased use of storage power plants in quarter 4/2014

At 1.16, water supply in quarter 4/2014 was significantly above the long-term average. The hydro coefficient for financial year 2014 was therefore 1.02. In the old forecast, assumptions for…