Breaking Profits: Dryness Makes Connecting
5 Articles
5 Articles
Historically low water flow and lower electricity prices push down the profits of the energy company by almost half.
VIENNA. The forecast for the full year has been adjusted and the profit is now expected to be 1.01 billion euros this year.
Water management at a historic low: Revenues fell by 5.4 percent to 5.56 billion euros in the first nine months of the year, while consolidated earnings fell by 43.5 percent to 684.8 million euros.
After the first three quarters, Verbund reported EBITDA of EUR 1,498.5 million, which is 29.0 percent below the previous year's figure. Consolidated earnings decreased by 43.5 percent to EUR 684.8 million. Adjusted for one-off effects, consolidated earnings amounted to EUR 725.0 million, which was 37.3 percent below the previous year's figure. The earnings development was significantly influenced by historically low water management and declinin…
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