Verbund Ag Class A · VIE:VER
Verbund Ag Class A — FY2024 Earnings Presentation
32 slides from Verbund Ag Class A's earnings presentation, Mar 20, 2025
Slide 1: Full year results 2024
Full year results 2024 VERBUND AG Vienna - 20th of March 2025
Slide 2: Full year results 2024 – Influencing factors
Full year results 2024 – Influencing factors Influencing factors ‒Lower average achieved contract prices for hydro power due to lower spot and forward prices ‒Strong hydro coefficient of 1.09 in 2024, higher production from reservoirs ‒Higher production from wind and PV as well as from thermal gener
Slide 3: Hedging volumes
Hedging volumes Hedging volumes 20241/ TWh Hedging volumes 20251/ TWh 142.8 131.2 126.6 129.5 121.9 119.8 117.5 123.0 118.4 118.0 MtM (17/3/25): 3.2 1.0 0.0 11.0 8.7 €108.9 6.1 15.3 14.1 12.5 8.7 24.0 26.0 27.8 16.9 20.9 13.2 14.6 16.9 10.3 11.5 31/12/23 31/3/24 30/6/24 30/9/24 31/12/24 31/12/23 31/
Slide 4: Hydro segment
Hydro segment Facts and figures EBITDA/ €m ‒ Higher generation from hydropower in 2024 3,856 ‒ Hydropower: 33,448 GWh (+9.6%) 2,970 ‒ Higher hydro coefficient in 2024 (1.09 vs. 0.98) ‒ Storage power: 5,458.4 GWh (+4.2%) ‒ Lower average achieved prices ‒ Contribution from flexibility products decreas
Slide 5: New renewables segment
New renewables segment Facts and figures EBITDA/ €m ‒ Higher generation from wind power in 2024: 1,818 GWh (+30.2%) 228 ‒ Austria 272 GWh (+21.3%) 170 ‒ Germany 292 GWh (+28.1%) ‒ Romania 455 GWh (–14.2%) ‒ Spain 799 GWh (+93.1%) ‒ Photovoltaic: 446 GWh (+23.1%) ‒ Austria: 7 GWh (+91.5%) 2023 2024 ‒
Slide 6: Expansion of new renewables generation
Expansion of new renewables generation (Wind & PV, without B2B, as of 31/12/2024) Assets in operation: In operation/ in construction / target 2030: EBITDA 2024: €17.7m In operation/ in construction / target 2030: 874 MW Wind // 308 MWp PV 125 MW / - MW / 233 MW Historic CAPEX¹: €1.6m 116 MW / – / 16
Slide 7: Sales segment
Sales segment Facts and figures EBITDA/ €m ‒ The improvement in EBITDA was mainly due to lower 7 procurement costs for electricity and gas in the end customer business; this was offset in particular by a lower result from the valuation of energy derivatives in connection with future energy supplies
Slide 8: Grid segment
Grid segment EBITDA Grid segment 2024: €370.0m (2023: €579.0m) Local GAAP: stable earnings ‒ Differences compensated by a regulatory account (2025e: €480m) APG EBITDA/ €m RAB 2024: €2,827m IFRS: volatile earnings (no regulatory account) RAB 2025: €3,229m 372 Contribution from APG in 2024 (IFRS): €28
Slide 9: All other segments
All other segments Facts and figures EBITDA/ €m ‒ Increased utilisation of CCGT Mellach 90 ‒ Thermal Power: 1,300 GWh (+91.9%) ‒ CCGT Mellach: 1,297 GWh ‒ EBITDA decreased mainly due to lower sales prices 35 achieved and negative effects from the valuation of future energy deliveries. 2023 2024 ‒ Co
Slide 10: Non-recurring effects
Non-recurring effects €m Detail 2023 2024 EBITDA Total 0 0 Impairments CCGT Mellach, Spanish renewable assets, GCA -483 -291 Reversal of impairments HPP Graz, Spanish renewable assets 31 114 Operating result Total -452 -177 Other result from equity interest Deconsolidation Solavolta 0 2 Measurement
Slide 11: Key financial figures (1)
Key financial figures (1) EBITDA/ €m Group result/ €m 4,490 4,490 2,616 2,266 3,480 3,480 1,976 3,161 3,161 1,755 1,875 1,717 Reported Reported Adjusted Adjusted 2022 2023 2024 2022 2023 2024 Additions to tangible assets (infrastructure) / Additions to tangible assets (renewables business & €m other
Slide 12: Key financial figures (2)
Key financial figures (2) Operating cash flow/ €m Free cash flow after dividends/ €m 2,098 5,083 3,249 2,020 145 -26 2022 2023 2024 2022 2023 2024 Net debt/ €m Dividend; Payout ratio from adj. Group result/ €; % 51.9% on reported 2023 incl. 71.3 Group result special 3,898 55.1 49.2 dividend of €0.75
Slide 13: 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 14: Outlook
Outlook Earnings outlook 2025 ‒ EBITDA between approx. €2,700m and approx. €3,300m and reported Group result between approx. €1,350m and approx. €1,750m based on an average generation from hydro, wind and PV in 2025 as well as the actual opportunities and risk situation of the Group. The earnings fo
Slide 15: Appendix
Appendix Page 15
Slide 16: Financial liabilities
Financial liabilities Financial liabilities Debt maturity profile/ €m ‒ Book value Financial liabilities: €1,806.3m 722 542 Financial ratios ‒ Duration: 7.0 years 180 ‒ Effective interest rate: 2.21% p.a. 146 58 48 45 43 ‒ Uncommitted lines of credit: €1,930m 1) 39 ‒ Commited lines of credit: €1,000
Slide 17: Income statement
Income statement €m 2023 2024 Total Total Revenue 10,449.5 8,244.6 Electricity revenue 8,766.3 7,027.3 Grid revenue 1,376.0 912.2 Other revenue 307.2 305.1 Other operating income 106.4 131.0 Expenses for electricity purchases & use of fuels –5,668.2 –3,992.1 Other operating & personnel expenses –935
Slide 18: Non-recurring effects influence Group result (in €m)
Non-recurring effects influence Group result (in €m) Group result reported 1,875 Impairments/Reversals (Mellach, Spanish renewable assets, GCA) 72 Measurement of an obligation to return an interest (DKJ) 41 TAG PPR 5 Reversal of impairments (HalloSonne, TAG) 5 Deconsolidation Solavolta 2 Group resul
Slide 19: Balance sheet (short version)
Balance sheet (short version) €m 31.12.2023 31.12.2024 Change Non-current assets 15,895 16,220 2% Current assets 3,590 2,498 -30% Total assets 19,485 18,718 -4% Equity 11,221 11,065 -1% Non-current liabilities 5,103 5,880 15% Current liabilities 3,161 1,774 -44% Total liabilities 19,485 18,718 -4% F
Slide 20: Cash flow statement (short version)
Cash flow statement (short version) €m 2023 2024 Change Cash flow from operating activities 5,083 3,249 –36% Cash flow from investing activities –1,144 –1,166 – Cash flow from financing activities –3,087 –2,251 – Change in cash and cash equivalents 555 –169 – Cash and cash equivalents at the end of
Slide 21: Strategy 2030 – three strategic thrusts
Strategy 2030 – In order to accelerate the energy transition, we are focusing on three strategic thrusts as a growing European energy player Empowering the expansion of Claiming a leading role as a renewables in Europe European hydrogen player Significant expansion of wind and Green hydrogen is the
Slide 22: VERBUND Strategy 2030 at a glance
VERBUND Strategy 2030 at a glance The strategy pursues the goal of leading the energy transition together Strengthening the integrated provider in the core market Empowering the expansion of renewables in Europe Hydropower – core element of the integrated provider Wind and PV – key growth segments f
Slide 23: Internationalization
Strengthening the integrated Internationalization provider in the core market Empowering the expansion of VERBUND pursues a transnational approach to internationalization renewables in Europe Claiming a leading role as a European hydrogen player − VERBUND as a leading green energy company in Austria
Slide 24: Environmental Social Governance
Environmental Social Governance Page 24
Slide 25: Sustainability @ VERBUND
Sustainability @ VERBUND Sustainability is the core element of VERBUND’s vision Our focus is on customised, sustainable electricity products and energy-related services that enable our environmentally aware customers to make efficient use of energy. We are also working to shape the future of energy
Slide 26: EU-Taxonomy for ecological sustainability
EU-Taxonomy for ecological sustainability EU-Environmental objectives CRITERIA Forestry Substantial contribution to Manufacturing industry Climate change mitigation environmental objective(s) S Energy Do No Significant Harm E Climate change adaption C Energy Transportation Minumum social safeguards
Slide 27: VERBUND Climate Transition Plan
VERBUND Climate Transition Plan The path to net zero (greenhouse gas emissions) Climate Transition Plan Strategic Pillar Key implementation points Strengthening the integrated provider in Objective until 2030 the core market − Climate- and eco-friendly generation of electricity Reducing absolute gre
Slide 28: Ratings & rankings
Ratings & rankings Financial Ratings Sustainability Ratings “A-” rating − Leadership A+/stable outlook Gold / 75 out of 100 points / among the top 2 % of companies rated worldwide A2/stable outlook “AAA” rating / leader category among 141 utility companies VERBUND is part of the following sustainabi
Slide 29: Capital market calendar 2025
Capital market calendar 2025 20/3/2025 Annual result and publication of annual report 2024 19/4/2025 Record date for Annual General Meeting 29/4/2025 Annual General Meeting 6/5/2025 Ex-dividend date 7/5/2025 Record date dividends 19/5/2025 Dividend payment date 14/5/2025 Result and interim report qu
Slide 30: 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 30
Slide 31: 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
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