Before the half-year results, Verbund has raised earnings expectations for 2016 with EBITDA 12% higher to €840m and a net income of €270m (+17.3%). The improvement is due to cost reductions from restructuring measures, higher profit from the grid segment and a slight improvement in the electricity business. However, in terms of dividend payment, the group has set for 2016 a payout ratio of 30% (reduced from 50% last year) as the group will concentrate on improving cash flows and red
18 Jul 2016
Guidance raised followed by a dividend cut
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Guidance raised followed by a dividend cut
VERBUND AG Class A (VER:WBO) | 0 0 (-0.6%) | Mkt Cap: 3,680m
- Published:
18 Jul 2016 -
Author:
Juan Camilo Rodriguez -
Pages:
3
Before the half-year results, Verbund has raised earnings expectations for 2016 with EBITDA 12% higher to €840m and a net income of €270m (+17.3%). The improvement is due to cost reductions from restructuring measures, higher profit from the grid segment and a slight improvement in the electricity business. However, in terms of dividend payment, the group has set for 2016 a payout ratio of 30% (reduced from 50% last year) as the group will concentrate on improving cash flows and red