Verbund: Warning Concerning Profit

Business › n.a. ♦ Published: October 28, 2010; 12:37 ♦ (Vindobona)

Despite worsening results, the Verbund Group holds fast to the capital increase. Core shareholders go along.

Verbund: Warning Concerning Profit / Picture: © Verbund AG

Contrary to general expectations, Verbund CEO Wolfgang Anzengruber announced a decline of overall earnings by 25%. This message is considered as surprising, because  Verbund share prices have previously recorded continuous gains.

The reason for the drop in profits are once-only effects in financial results. In particular, the French subsidiary Poweo had to be…

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