Verbund released a weak set of 9M results. During the third quarter, an exceptionally low water supply resulted in a c.30% decline in both hydro power generation and EBITDA, forcing management to cut its FY18 EBITDA and net profit targets by 8-9%. However, the group was able to improve its hedging profile further while reducing its net debt, ahead of a likely strong 2019.
07 Nov 2018
Dry weather during Q3 cuts 30% of Verbund's EBITDA
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Dry weather during Q3 cuts 30% of Verbund's EBITDA
VERBUND AG Class A (VER:WBO) | 0 0 (-0.6%) | Mkt Cap: 3,680m
- Published:
07 Nov 2018 -
Author:
Edouard Enault -
Pages:
3
Verbund released a weak set of 9M results. During the third quarter, an exceptionally low water supply resulted in a c.30% decline in both hydro power generation and EBITDA, forcing management to cut its FY18 EBITDA and net profit targets by 8-9%. However, the group was able to improve its hedging profile further while reducing its net debt, ahead of a likely strong 2019.