21st Austria weekly - Verbund (08/02/2024)

Verbund: The Executive Board of Verbund announced today that the earnings forecast for financial year 2024 deviates significantly from market expectations. The rapid and massive drop in wholesale prices for electricity, caused by the fall in primary energy prices and the prices of emission allowances as well as lower earnings contribution in the Grid segment are having a negative impact on the expected EBITDA and the expected Group result for financial year 2024. These negative effects are not sufficiently reflected in the current market expectations (internally compiled consensus of analysts' estimates; consensus 2024 as of 8^th February 2024: EBITDA approx. €3.8bn, Group result approx. €2.1bn). Verbund expects EBITDA of between around €2,600m and €3,300m and ...

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