EQS-News: VERBUND AG: Results for quarter 1/2026: Solid results despite well below-average water supply and falling sales prices
EQS-News: VERBUND AG: Results for quarter 1/2026: Solid results despite well below-average water supply and falling sales prices
EQS-News: VERBUND AG / Key word(s): Quarter Results/Interim Report
VERBUND AG: Results for quarter 1/2026: Solid results despite well
below-average water supply and falling sales prices
13.05.2026 / 07:59 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Due to poor water supply and declining sales prices, VERBUND’s results for
quarter 1/2026 were well below the prior-year level. EBITDA was down 26.1%
year-on-year to €534.6m and the Group result fell 32.0% to €269.8m.
The hydro coefficient for the run-of-river power plants stood at 0.78,
down 5 percentage points on the previous year (0.83) and 22 percentage
points lower than the long-term average. Generation from the annual
storage power plants in quarter 1/2026 declined by 2.3% against the
prior-year reporting period. Generation from hydropower plants therefore
fell by 373 GWh to 5,095 GWh. Similarly, at 0.89, the new renewables
coefficient from wind and photovoltaics in quarter 1/2026 was
11 percentage points below the planned value. However, it was
13 percentage points higher year-on-year (Q1/2025: 0.76), which, in
combination with wind and photovoltaic plants entering initial operation,
boosted wind and PV generation by 121 GWh to 697 GWh. As such, paired with
slightly lower generation from thermal energy as well, VERBUND’s own
generation in quarter 1/2026 fell 4.9% year-on-year. Earnings performance
suffered significantly due to lower average sales prices achieved, with
prices down €34.2/MWh to €92.6/MWh for own generation from hydropower. The
marked decline is due to the high sales price in quarter 1/2025, which was
mainly attributable to premature “limit” sales in 2023 at high wholesale
prices. The earnings contribution from the Hydro segment was therefore
much lower. The contribution from the New renewables segment likewise fell
year-on-year, partly due to lower sales prices. A lower contribution from
the Grid segment and also from flexibility products – which declined by
21.2% to €46.0m in quarter 1/2026 – had an additional adverse impact on
earnings. By contrast, the Sales segment posted improved results, mainly
due to lower electricity purchase expenses and the result from the
measurement and recognition of energy derivatives for future delivery
periods. Thermal generation performed positively due to high spreads,
particularly at the start of the year.
Earnings forecast for 2026 adjusted
Based on expectations of average levels of own generation from hydropower,
wind power and solar power in quarters 2–4/2026 as well as the current
opportunities and risks identified, VERBUND expects EBITDA of between
around €2,100m and €2,500m and a Group result of between around €1,000m
and €1,200m in financial year 2026. VERBUND’s planned payout ratio for
financial year 2026 is between 45% and 55% of the Group result of between
around €1,000m and €1,200m, after adjusting for non-recurring effects.
KPIs
Unit Q1/2025 Q1/2026 Change
Revenue €m 2,295.0 1,938.5 –15.5%
EBITDA €m 723.9 534.6 –26.1%
Operating result €m 575.1 386.5 –32.8%
Group result €m 396.7 269.8 –32.0%
Earnings per share € 1.14 0.78 –32.0%
EBIT margin % 25.1 19.9 –
EBITDA margin % 31.5 27.6 –
Cash flow from operating activities €m 538.4 453.5 –15.8%
Free cash flow before dividends €m 289.9 149.6 –48.4%
Free cash flow after dividends €m 289.0 149.6 –48.2%
Performance of VERBUND shares % –6.5 5.9 –
Gearing % 14.6 22.9 –
Additional information as well as the Interim Financial Report for
quarter 1/2026 is available 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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13.05.2026 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 Wien
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)
EQS News ID: 2326610
End of News EQS News Service
2326610 13.05.2026 CET/CEST
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