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Verbund Reports Drop in Group Result and Sale of French Poweo
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The Austrian electricity group suffered from extraordinarily weak water supply in the first six months of the year. The stake in French Poweo will be sold to competitor Direct Energie.
Verbund Reports Drop in Group Result and Sale of French Poweo / Picture: © Vindobona.org
Verbund reported results for the first half of 2011 today. The group generated revenue of € 1.87bn (+18.1% year-on-year). The operating result improved by 1.7% to € 388.7m, while the group result declined by 16.2% to € 176.3m. The Group succeeded in increasing its operating result in quarters 1-2/2011, despite the far below-average water supply in quarter 2/2011. At 0.86, the…
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