Verbund AG
PSE:VER
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Verbund AG
PSE:VER
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Fifth Third Bancorp
DUS:FFH
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Mcphy Energy SA
OTC:MPHYF
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Verbund AG
Verbund AG is Austria’s largest power company. It mainly produces electricity from hydropower plants, then sells that power through wholesale trading, long-term supply contracts, and retail offerings. The company also plays a key role in moving electricity around Austria through its transmission-grid business. Its customers include utilities, industrial companies, businesses, and households, mostly in Austria and nearby European markets. Verbund makes money by generating and selling electricity, trading power across market hubs, and charging for grid-related services where allowed. Because its output comes mostly from water, its business is tied to the energy system’s need for reliable low-carbon electricity rather than to fuel purchases. What makes Verbund different is its place in the value chain. It is not just a seller of electricity; it is also a major owner and operator of power plants and high-voltage grid infrastructure, which gives it a central role in balancing supply and demand. That mix of generation, trading, and grid assets makes it one of the most important companies in Austria’s electricity market.
Verbund AG is Austria’s largest power company. It mainly produces electricity from hydropower plants, then sells that power through wholesale trading, long-term supply contracts, and retail offerings. The company also plays a key role in moving electricity around Austria through its transmission-grid business.
Its customers include utilities, industrial companies, businesses, and households, mostly in Austria and nearby European markets. Verbund makes money by generating and selling electricity, trading power across market hubs, and charging for grid-related services where allowed. Because its output comes mostly from water, its business is tied to the energy system’s need for reliable low-carbon electricity rather than to fuel purchases.
What makes Verbund different is its place in the value chain. It is not just a seller of electricity; it is also a major owner and operator of power plants and high-voltage grid infrastructure, which gives it a central role in balancing supply and demand. That mix of generation, trading, and grid assets makes it one of the most important companies in Austria’s electricity market.
Hydro Production: Extremely low hydro production due to poor snow and rainfall impacted Q1 results, with the hydro coefficient at just 0.83—down 46 percentage points from last year.
Q1 Financials: EBITDA dropped 18.1% to EUR 723.9 million and group result fell 21% to EUR 397 million, mainly due to lower hydropower output.
Renewables: Wind and PV production were also weak, but the renewables segment's EBITDA rose 4% to around EUR 60 million on stronger prices.
Grid Segment: Electricity grid EBITDA jumped to EUR 127 million, leading to raised full-year grid EBITDA guidance to EUR 300 million.
Outlook & Guidance: Full-year 2025 EBITDA is guided at EUR 2.7–3.2 billion and group result at EUR 1.35–1.7 billion, assuming average hydro/wind/PV output for Q2-Q4.
Cash Flow and Debt: Free cash flow after dividends dropped to EUR 289 million, but net debt decreased to EUR 1.69 billion.
CapEx Ramp-up: Significant CapEx ramp-up planned for the rest of 2025, with around EUR 1.9 billion expected for the year.
