EQS-Ad-hoc: VERBUND AG / Key word(s): Profit warning/forecast VERBUND AG: Earnings outlook for the 2024 financial year well below market expectations 02/08/2024 / 6:30 p.m. CET/CEST Publication of insider information in accordance with Article 17 of the Regulation (EU) No. 596/2014, transmitted by EQS News – a service of EQS Group AG. The issuer/publisher is responsible for the content of the message. ═════════════════════════════════════════ ═════════ ════════════════════════ The Management Board of VERBUND AG announces today that the earnings outlook for the 2024 financial year deviates significantly from market expectations. The rapid and massive decline in wholesale electricity prices, caused by the decline in primary energy prices and the prices for CO(2) certificates, as well as a lower contribution to earnings in the network segment, have a negative impact on the expected EBITDA and the expected consolidated earnings for the 2024 financial year. These negative effects are not sufficiently reflected in the current market expectations (internally collected consensus of analyst estimates) (consensus 2024 as of February 8, 2024: EBITDA around €3.8 billion, consolidated earnings around €2.1 billion). The analysts’ consensus is therefore significantly higher than VERBUND AG’s current earnings outlook. Outlook for 2024 Based on average internal generation from hydropower, wind power and PV as well as the opportunity and risk situation, VERBUND expects an EBITDA of between around €2,600 million and €3,300 million and a consolidated result of between around €1,300 million and €1,750 million for the 2024 financial year .€. The earnings outlook is subject to no further measures to partially skim profits from energy companies. Further details will be announced as part of the publication of the 2023 annual results on March 14, 2024. Contact: Mag. Andreas Wollein Head of Financial Management and Investor Relations T.: +43 (0)5 03 13 – 52604 F.: +43 (0)5 03 13 – 52694 investor-relations@verbund.com End of insider information ══════════════════════════════════════ ══════ ══════════════════════════════ 02/08/2024 CET/CEST notification transmitted by EQS Group AG.
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═════════════════════════════════════════ ═════════ ════════════════════════ Language: German Company: Verbund AG Am Hof 6a 1010 Vienna Austria Telephone: 0043-1-53113-52604 Fax: 0043- 1-53113-52694 Email: investor relations@verbund.com
Internet: www.verbund.com
ISIN: AT0000746409 WKN: 877738 Indices: ATX Exchanges: Vienna Stock Exchange (official trading) EQS News ID: 1833835 End of message EQS News Service 1833835 02/08/2024 CET/CEST