EQS-News: VERBUND AG: Results for quarters 1–2/2026: declining earnings due to significantly below-average water supply and lower sales prices
EQS-News: VERBUND AG / Key word(s): Half Year Results
VERBUND AG: Results for quarters 1–2/2026: declining earnings due to
significantly below-average water supply and lower sales prices
30.07.2026 / 07:59 CET/CEST
The issuer is solely responsible for the content of this announcement.
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VERBUND’s results for quarters 1–2/2026 saw a marked year-on-year decline
due to poor water supply and falling sales prices. EBITDA fell by 24.9%
year-on-year to €1,061.5m. The Group result was down 35.4% to €518.1m, and
the Group result after adjustment for non-recurring effects amounted to
€537.8m, a decrease of 31.4% on last year.
The hydro coefficient for the run-of-river power plants stood at 0.68,
down 8 percentage points on the previous year (0.76) and 32 percentage
points lower than the long-term average. Generation from the annual
storage power plants in quarters 1–2/2026 declined by 5.9% against the
prior-year reporting period. As a result, total generation from hydropower
plants was down 1,210 GWh (9.8%) to 11,191 GWh. By contrast, electricity
generation from new renewables plants increased. At 0.82, the new
renewables coefficient from wind and photovoltaic power was 18 percentage
points below the planned value in quarters 1–2/2026 but 4 percentage
points higher than in quarters 1–2/2025 (0.78). Generation from wind power
and photovoltaics thus rose by 109 GWh to 1,173 GWh. As a consequence,
VERBUND’s own generation in the first half of 2026 was 7.9% lower
year-on-year, with generation from thermal power plants also slightly
lower. Earnings performance was also adversely affected by the lower
average sales price achieved for own generation from hydropower, which was
down by as much as €31.0/MWh to €86.2/MWh. The decline is due to the high
sales price in quarters 1–2/2025 which was mainly attributable to
premature “limit” sales in 2023 at high wholesale prices.
The earnings contribution from the Hydro segment fell significantly owing
to lower generation and lower electricity prices. Performance in the New
renewables segment was also down year-on-year due to lower sales prices.
However, a higher earnings contribution from the Grid segment, Sales
segment and All other segments mitigated these pressures to some extent.
The key factors behind this were the improved operating results from the
gas transmission system, higher contributions from the end customer
business and a positive performance in thermal generation due to high
spreads, particularly at the start of the year. The contribution from
flexibility products was down 16.7% to €136.4m in quarters 1–2/2026.
Guidance for 2026 adjusted
Based on expectations of average levels of own generation from hydropower,
wind power and solar power in quarters 3–4/2026 as well as the current
opportunities and risks identified, VERBUND expects EBITDA of between
around €2,100m and €2,400m and a reported Group result of between around
€1,000m and €1,150m in financial year 2026. The adjusted Group result is
expected to be between €1,050m and €1,200m. VERBUND’s planned payout ratio
for financial year 2026 is between 45% and 55% of the Group result, after
adjusting for non-recurring effects.
KPIs
Unit Q1–2/2025 Q1–2/2026 Change
Revenue €m 4,036.4 3,593.8 –11.0%
EBITDA €m 1,413.0 1,061.5 –24.9%
Operating result €m 1,113.1 714.0 –35.9%
Group result €m 802.7 518.1 –35.4%
Earnings per share € 2.31 1.49 –35.4%
EBIT margin % 27.6 19.9 –
EBITDA margin % 35.0 29.5 –
Cash flow from operating activities €m 1,338.4 875.2 –34.6%
Free cash flow before dividends €m 769.5 218.9 –71.6%
Free cash flow after dividends €m –559.9 –1,076.8 –
Performance of VERBUND shares % –6.9 –10.3 –
Gearing % 23.2 36.2 –
Additional information and the interim financial report for
quarters 1–2/2026 can be found at www.verbund.com > Group > Investor
Relations > Latest financial results and 5-year comparison > Latest
financial results.
Contact: Andreas Wollein
Head of Group Finance and Investor Relations
T.: +43 (0)5 03 13 – 52604
F.: +43 (0)5 03 13 – 52694
investor-relations@verbund.com
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30.07.2026 CET/CEST This Corporate News was distributed by [1]EQS Group
View original content: [2]EQS News
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Language: English
Company: VERBUND AG
Am Hof 6A
1010 Vienna
Austria
Phone: 0043-1-53113-52604
Fax: 0043-1-53113-52694
E-mail: investor-relations@verbund.com
Internet: www.verbund.com
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
LEI Code: 5299006UDSEJCTTEJS30
EQS News ID: 2373940
End of News EQS News Service
2373940 30.07.2026 CET/CEST
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