Verbund Ag Class A · VIE:VER
Verbund Ag Class A — Q1 2026 Earnings Presentation
24 slides from Verbund Ag Class A's earnings presentation, May 13, 2026
Slide 1: VERBUND AG Results quarter 1/2026
By our own power. VERBUND AG Results quarter 1/2026 Vienna - 13th of May 2026
Slide 2: Results quarter 1/2026 – Influencing factors
Results quarter 1/2026 – Influencing factors Influencing factors ‒Lower average achieved contract prices for hydro power ‒Significantly low hydro coefficient ‒Lower production from reservoirs ‒Higher generation from wind and PV ‒Lower contribution from Austrian Power Grid ‒Improved earnings from the
Slide 3: Hedging volumes
Hedging volumes Hedging volumes 20261/ TWh Hedging volumes 20271/ TWh 85.7 86.6 MtM MtM 80.3 81.4 81.5 88.0 92.1 (30/4/26): 81.0 81.8 86.0 (30/4/26): €92.1 €98.4 13.1 11.1 8.8 6.0 14.7 20.3 25.4 25.1 24.0 23.0 14.5 16.7 18.3 10.9 12.5 1.7 2.8 5.5 0.3 0.6 31/3/25 30/6/25 30/9/25 31/12/25 31/3/26 31/3
Slide 4: Impact on VERBUND of the levy on excess profits
Impact on VERBUND of the levy on excess profits • Extension of The Federal Act on the Electricity Energy Crisis Contribution in Austria • Tax periods 1 April 2025 to 31 March 2026 (period 3), 1 April 2026 to 31 March 2027 (period 4) ... until 1 April 2029 to 31 March 2030 (period 7) • Revenue caps:
Slide 5: Flexibility products
Flexibility products Flexibility products / €m • Control energy products: permanent balance between generation and consumption for grid stabilisation Approx. 270 (primary/secondary/tertiary control energy) • Congestion management: all measures to prevent/counteract 58 46 excess load flows Q1/2025 Q1
Slide 6: Hydro segment
Hydro segment Facts and figures EBITDA/ €m ‒ Lower generation from hydropower in Q1/2026 481 ‒ Hydropower: 5,095 GWh (–6.8%) ‒ Lower hydro coefficient in Q1/2026 300 (0.78 vs. 0.83) ‒ Reservoirs: 1,279 GWh (–2.3%) ‒ Lower average achieved prices ‒ Contribution from flexibility products decreased by
Slide 7: New renewables segment
New renewables segment Facts and figures EBITDA/ €m ‒ Higher generation from wind power in Q1/2026: 609 GWh (+24.6%) ‒ Austria 68 GWh (+9.8%) 59 ‒ Germany 88 GWh (+45.6%) ‒ Romania 124 GWh (+14.7%) 36 ‒ Spain 330 GWh (+27.4%) ‒ Higher generation from photovoltaics in Q1/2026: 88 GWh (+0.3%) ‒ Austri
Slide 8: Sales segment
Sales segment Facts and figures EBITDA/ €m ‒ Stabilisation of end-customer business 49 37 ‒ Business: Q1/2026: €+31.3m (Q1/2025: €+29.4m) ‒ Customers: Q1/2026: €+18.0m (Q1/2025: €+7.2m) ‒ Contribution from flexibility products decreased by €2.9m Q1/2025 Q1/2026 Current information The Sales segment
Slide 9: Grid segment
Grid segment EBITDA Grid segment Q1/2026: €131m (Q1/2025: €145m) Local GAAP: stable earnings ‒ Differences compensated by a regulatory account (2026e: €589m) APG EBITDA/ €m RAB 2025: €3,229m IFRS: volatile earnings (no regulatory account) Approx. RAB 2026: €3,662m 290 Contribution from APG in Q1/202
Slide 10: All other segments
All other segments Facts and figures EBITDA/ €m ‒ Lower utilisation of CCGT Mellach 35 ‒ Thermal Power: 828 GWh (–9.5%) ‒ Increase in EBITDA 16 ‒ lower fuel expenses ‒ higher realised margins ‒ Contribution from flexibility products increased by €0.2m Q1/2025 Q1/2026 Current information KELAG contri
Slide 11: Key financial figures (1)
Key financial figures (1) EBITDA/ €m Group result/ €m 724 -26% 397 -32% 535 270 Q1/2025 Q1/2026 Q1/2025 Q1/2026 Additions to tangible assets (infrastructure) / €m Additions to tangible assets (renewables business & others) / €m +52% +80% 68 194 45 107 Q1/2025 Q1/2026 Q1/2025 Q1/2026 Page 11
Slide 12: Key financial figures (2)
Key financial figures (2) Operating cash flow/ €m Free cash flow after dividends/ €m -16% 538 289 -48% 453 150 Q1/2025 Q1/2026 Q1/2025 Q1/2026 Net debt/ €m Gearing/ % 24.9 -6% 22.9 2,818 2,639 31.12.2025 31.3.2026 31.12.2025 31.3.2026 Page 12
Slide 13: Outlook
Outlook Earnings outlook 2026 ‒ EBITDA between approx. €2,100m and approx. €2,500m and reported Group result between approx. €1,000m and approx. €1,200m based on an average generation from hydro, wind and PV in Q2-4/2026 as well as the actual opportunities and risk situation of the Group. ‒ For fina
Slide 14: Appendix
Appendix Page 14
Slide 15: Financial liabilities
Financial liabilities Financial liabilities Debt maturity profile/ €m ‒ Book value Financial liabilities: €1,834.3m 694 542 Financial ratios ‒ Duration: 5.9 years 180 ‒ Effective interest rate: 2.28% p.a. 146 ‒ Uncommitted lines of credit: €2,355m 1) 41 45 44 40 40 ‒ Commited lines of credit: €1,000
Slide 16: Expansion of new renewables generation
Expansion of new renewables generation (Wind & PV, without B2B, as of 31/3/2026) Assets in operation: In operation/ in construction / target 2030: EBITDA 2026e⁵: €12.5m In operation/ in construction / target 2030: 910 MW Wind // 346 MWp PV Historic CAPEX¹: €10.1m 143 MW / 18 MW / 413 MW 116 MW / – M
Slide 17: CAPEX plan 2026-2028 (total of €6,789m)
CAPEX plan 2026-2028 (total of €6,789m) according to Q4 mid-term planning 2025, excl. M&A Growth CAPEX/ €m (total of €3,993m) Maintenance CAPEX/ €m (total of €2,796m) 1,548 1,469 980 991 33 19 825 976 427 435 1,021 768 43 424 325 1 0 381 2 386 436 441 305 88 293 25 10 198 15 206 30 153 -13 41 58 6 4
Slide 18: Income statement
Income statement €m Q1/2025 Q1/2026 Total Total Revenue 2,295.0 1,938.5 Electricity revenue 1,895.7 1,538.2 Grid revenue 304.3 301.2 Other revenue 95.0 99.2 Other operating income 22.8 24.8 Expenses for electricity purchases & use of fuels –1,303.3 –1,137.3 Other operating & personnel expenses –268.
Slide 19: Balance sheet (short version)
Balance sheet (short version) €m 31.12.2025 31.3.2026 Change Non-current assets 16,888 16,869 0% Current assets 1,721 1,745 1% Total assets 18,610 18,614 0% Equity 11,331 11,510 2% Non-current liabilities 5,518 5,443 -1% Current liabilities 1,761 1,661 -6% Total liabilities 18,610 18,614 0% Seite 19
Slide 20: Cash flow statement (short version)
Cash flow statement (short version) €m Q1/2025 Q1/2026 Change Cash flow from operating activities 538 453 –16% Cash flow from investing activities –248 –463 – Cash flow from financing activities –65 45 – Change in cash and cash equivalents 226 36 –84% Cash and cash equivalents at the end of 1,021 10
Slide 21: Capital market calendar 2026
Capital market calendar 2026 30/7/2026 Result and interim report quarters 1–2/2026 5/11/2026 Result and interim report quarters 1–3/2026 Page 21
Slide 22: 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 22
Slide 23: 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 24: By our own power.
By our own power.