Verbund Ag Class A · VIE:VER
Verbund Ag Class A — Q1 2025 Earnings Presentation
22 slides from Verbund Ag Class A's earnings presentation, May 14, 2025
Slide 1: Results quarter 1/2025
Results quarter 1/2025 VERBUND AG Vienna - 14th of May 2025
Slide 2: Results quarter 1/2025 – Influencing factors
Results quarter 1/2025 – Influencing factors Influencing factors ‒Higher average achieved contract prices for hydro power ‒Significantly lower hydro coefficient ‒Lower production from reservoirs ‒Lower generation from wind but higher generation from PV ‒Higher production from CCGT Mellach ‒Higher co
Slide 3: Hedging volumes
Hedging volumes Hedging volumes 20251/ TWh Hedging volumes 20261/ TWh 126.6 121.9 119.8 117.5 116.8 MtM MtM 79.4 78.7 79.3 79.3 80.3 (30/4/25): (30/4/25): €82.4 11.0 8.7 6.0 €109.4 14.1 12.5 17.5 17.2 16.3 15.8 14.7 14.6 16.9 18.5 11.5 13.2 9.4 9.8 10.9 8.2 8.5 31/3/24 30/6/24 30/9/24 31/12/24 31/3/
Slide 4: Hydro segment
Hydro segment Facts and figures EBITDA/ €m ‒ Lower generation from hydropower in Q1/2025 714 ‒ Hydropower: 5,468 GWh (–30.7%) ‒ Lower hydro coefficient in Q1/2025 481 (0.83 vs. 1.29) ‒ Reservoirs: 1,310 GWh (–4.8%) ‒ Higher average achieved prices ‒ Contribution from flexibility products increased b
Slide 5: New renewables segment
New renewables segment Facts and figures EBITDA/ €m ‒ Lower generation from wind power in Q1/2025: 489 GWh (–12.3%) ‒ Austria 62 GWh (–32.0%) 59 57 ‒ Germany 60 GWh (–8.0%) ‒ Romania 108 GWh (–24.6%) ‒ Spain 259 GWh (+0.3%) ‒ Higher generation from photovoltaics in Q1/2025: 87 GWh (+13.5%) ‒ Austria
Slide 6: Sales segment
Sales segment Facts and figures EBITDA/ €m ‒ Stabilisation of end-customer business 37 ‒ Business: Q1/2025: €+29.4m (Q1/2024: €+30.7m) ‒ Customers: Q1/2025: €+7.2m (Q1/2024: €-23.9m) 7 ‒ Contribution from flexibility products decreased by €0.5m Q1/2024 Q1/2025 Current information The Sales segment c
Slide 7: Grid segment
Grid segment EBITDA Grid segment Q1/2025: €144.5m (Q1/2024: €111.0m) Local GAAP: stable earnings ‒ Differences compensated by a regulatory account (2025e: €570m) APG EBITDA/ €m RAB 2024: €2,827m IFRS: volatile earnings (no regulatory account) Approx. RAB 2025: €3,229m 300 Contribution from APG in Q1
Slide 8: All other segments
All other segments Facts and figures EBITDA/ €m ‒ Increased utilisation of CCGT Mellach 16 ‒ Thermal Power: 915 GWh (+179.2%) ‒ EBITDA increased mainly due to positive effects from 7 the valuation of energy derivatives ‒ Contribution from flexibility products increased by €3.3m Q1/2024 Q1/2025 Curre
Slide 9: Key financial figures (1)
Key financial figures (1) EBITDA/ €m Group result/ €m -18% 883 -22% 724 506 397 Q1/2024 Q1/2025 Q1/2024 Q1/2025 Additions to tangible assets (infrastructure) / €m Additions to tangible assets (renewables business & others) / €m -20% +77% 45 134 107 25 Q1/2024 Q1/2025 Q1/2024 Q1/2025 Page 9
Slide 10: Key financial figures (2)
Key financial figures (2) Operating cash flow/ €m Free cash flow after dividends/ €m 929 -42% 675 -57% 538 289 Q1/2024 Q1/2025 Q1/2024 Q1/2025 Net debt/ €m Gearing/ % -14% 17.9 1,977 14.6 1,692 31.12.2024 31.3.2025 31.12.2024 31.3.2025 Page 10
Slide 11: Outlook
Outlook Earnings outlook 2025 ‒ EBITDA between approx. €2,700m and approx. €3,200m and reported Group result between approx. €1,350m and approx. €1,700m based on an average generation from hydro, wind and PV in Q2-4/2025 as well as the actual opportunities and risk situation of the Group. The earnin
Slide 12: Appendix
Appendix Page 12
Slide 13: Financial liabilities
Financial liabilities Financial liabilities Debt maturity profile/ €m ‒ Book value Financial liabilities: €1,808.4m 722 542 Financial ratios ‒ Duration: 6.6 years 180 ‒ Effective interest rate: 2.20% p.a. 145 51 48 44 43 ‒ Uncommitted lines of credit: €1,885m 1) 39 ‒ Commited lines of credit: €1,000
Slide 14: Expansion of new renewables generation
Expansion of new renewables generation (Wind & PV, without B2B, as of 31/3/2025) Assets in operation: In operation/ in construction / target 2030: EBITDA 2025e: €13.1m In operation/ in construction / target 2030: 874 MW Wind // 308 MWp PV 125 MW / – / 233 MW Historic CAPEX¹: €1.6m 116 MW / – / 166 M
Slide 15: CAPEX plan 2025-2027 (total of €5,873m)
CAPEX plan 2025-2027 (total of €5,873m) according to Q4 mid-term planning 2024, excl. M&A Growth CAPEX/ €m (total of €4,004m) Maintenance CAPEX/ €m (total of €1,868m) 1,610 672 46 603 594 1,347 79 740 1,047 372 631 92 305 362 330 407 0 1 391 326 1 92 220 64 220 134 19 92 214 109 249 156 2 33 49 1 24
Slide 16: Income statement
Income statement €m Q1/2024 Q1/2025 Total Total Revenue 2,007.8 2,295.0 Electricity revenue 1,655.3 1,895.7 Grid revenue 248.1 304.3 Other revenue 104.4 95.0 Other operating income 45.9 22.8 Expenses for electricity purchases & use of fuels –1,110.5 1,303.3 Other operating & personnel expenses –237.
Slide 17: Balance sheet (short version)
Balance sheet (short version) €m 31.12.2024 31.3.2025 Change Non-current assets 16,220 16,051 -1% Current assets 2,498 3,000 20% Total assets 18,718 19,052 2% Equity 11,065 11,547 4% Non-current liabilities 5,880 5,517 -6% Current liabilities 1,774 1,988 12% Total liabilities 18,718 19,052 2% Seite
Slide 18: Cash flow statement (short version)
Cash flow statement (short version) €m Q1/2024 Q1/2025 Change Cash flow from operating activities 929 538 –42% Cash flow from investing activities –248 –248 – Cash flow from financing activities –167 –65 – Change in cash and cash equivalents 514 226 –56% Cash and cash equivalents at the end of 1,479
Slide 19: Capital market calendar 2025
Capital market calendar 2025 19/5/2025 Dividend payment date 31/7/2025 Result and interim report quarters 1–2/2025 5/11/2025 Result and interim report quarters 1–3/2025 Page 19
Slide 20: VERBUND Board of Directors
VERBUND Board of Directors Michael Strugl Peter F. Kollmann CEO, Chairman of the CFO, Deputy Chairman of Executive Board the Executive Board Susanna Zapreva- Hennerbichler Achim Kaspar Member of the Executive Member of the Executive Board Board Page 20
Slide 21: Investor Relations Team
Investor Relations Team Andreas Wollein Martin Weikl Stefan Wallner Tibor Hanifl Head of Group Finance and Senior Investor Relations Senior Investor Relations Investor Relations Investor Relations Manager Manager Manager (ESG) T +43(0)503 13-52614 T +43(0)503 13-52614 T +43(0)503 13-52614 T +43(0)50
Slide 22: =_ ke Ko
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