Verbund Ag Class A · VIE:VER
Verbund Ag Class A — Q1-3 2025 Earnings Presentation
25 slides from Verbund Ag Class A's earnings presentation, Nov 5, 2025
Slide 1: Results for quarters 1–3/2025
Results for quarters 1–3/2025 VERBUND AG Vienna – 5th of November 2025
Slide 2: Influencing factors
Results for quarters 1–3/2025 – Influencing factors Influencing factors ‒Significantly lower hydro coefficient (hydro coefficient: 0.79) ‒Slightly lower average achieved contract prices for hydro power ‒Lower generation from wind and PV ‒Higher production from CCGT Mellach ‒Higher contribution from
Slide 3: Hedging volumes
Hedging volumes Hedging volumes 20251/ TWh Hedging volumes 20261/ TWh 119.8 117.5 116.8 115.8 115.7 MtM 79.3 79.3 80.3 81.4 81.5 MtM (15/10/25): (15/10/25): €85.7 11.0 8.7 6.0 2.8 1.1 €115.0 14.7 13.1 11.1 16.3 15.8 16.9 18.5 19.5 20.5 14.6 10.9 12.5 14.5 9.4 9.8 30/9/24 31/12/24 31/3/25 30/6/25 30/
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. 300 234 (primary/secondary/tertiary control energy) 220 • Congestion management: all measures to prevent/counteract excess load flows Q1–3/202
Slide 6: Hydro segment
Hydro segment Facts and figures EBITDA/ €m ‒ Lower generation from hydropower in Q1–3/2025 2,276 ‒ Hydropower: 20,031 GWh (–23.1%) ‒ Lower hydro coefficient in Q1–3/2025 1,586 (0.79 vs. 1.07) ‒ Reservoirs: 3,872 GWh (–4.1%) ‒ Slightly lower average achieved prices ‒ Contribution from flexibility pro
Slide 7: New renewables segment
New renewables segment Facts and figures EBITDA/ €m ‒ Lower generation from wind power in Q1–3/2025: 1,195 GWh (–9.7%) ‒ Austria 159 GWh (–18.7%) ‒ Germany 161 GWh (–25.1%) 123 123 ‒ Romania 285 GWh (–12.8%) ‒ Spain 591 GWh (+0.7%) ‒ Lower generation from photovoltaics in Q1–3/2025: 357 GWh (–0.8%)
Slide 8: Sales segment
Sales segment Facts and figures EBITDA/ €m ‒ Improvement of end-customer business 114 ‒ Business: Q1–3/2025: €+116.0m (Q1–3/2024: €+75.5m) ‒ Customers: Q1–3/2025: €–1.8m (Q1–3/2024: €–76.4m) ‒ Contribution from flexibility products decreased by €16.1m -1 Q1–3/2024 Q1–3/2025 Current information The S
Slide 9: Grid segment
Grid segment EBITDA Grid segment Q1–3/2025: €305.3m (Q1–3/2024: €257.3m) Local GAAP: stable earnings ‒ Differences compensated by a regulatory account (2025e: €640m) APG EBITDA/ €m RAB 2024: €2,827m IFRS: volatile earnings (no regulatory account) Approx. RAB 2025: €3,229m 370 Contribution from APG i
Slide 10: All other segments
All other segments Facts and figures EBITDA/ €m ‒ Increased utilisation of CCGT Mellach 25 ‒ Thermal Power: 1,032 GWh (+106.4%) 17 ‒ EBITDA increased mainly due to positive effects from the valuation of energy derivatives ‒ Contribution from flexibility products increased by €1.3m Q1–3/2024 Q1–3/202
Slide 11: Key financial figures (1)
Key financial figures (1) EBITDA/ €m Group result/ €m -20% 2,625 -13% 2,111 1,387 1,486 1,212 1,156 Reported Adjusted Q1–3/2024 Q1–3/2025 Q1–3/2024 Q1–3/2025 Additions to tangible assets (infrastructure) / €m Additions to tangible assets (renewables business & others) / €m +48% -19% 304 515 416 205
Slide 12: Key financial figures (2)
Key financial figures (2) Operating cash flow/ €m Free cash flow after dividends/ €m -29% 2,333 1,654 -393 -574 Q1–3/2024 Q1–3/2025 Q1–3/2024 Q1–3/2025 Net debt/ €m Gearing/ % +25% 22.4 2,477 1,977 17.9 31.12.2024 30.9.2025 31.12.2024 30.9.2025 Page 12
Slide 13: Outlook
Outlook Earnings outlook 2025 ‒ EBITDA between approx. €2,750m and approx. €2,900m and reported Group result between approx. €1,500m and approx. €1,600m based on an average generation from hydro, wind and PV in Q4/2025 as well as the actual opportunities and risk situation of the Group. The earnings
Slide 14: Appendix
Appendix Page 14
Slide 15: Non-recurring effects
Non-recurring effects €m Detail Q1–3/2025 Q1–3/2024 EBITDA 0 0 Impairments CCGT Mellach, GCA 0 -195 Operating result Total 0 -195 Other financial result Measurement of an obligation to return an interest (DKJ) 25 -17 Financial result 25 -17 Remeasurement of deferred taxes following the investment Ta
Slide 16: Financial liabilities
Financial liabilities Financial liabilities Debt maturity profile/ €m ‒ Book value Financial liabilities: €1,767.6m 721 542 Financial ratios ‒ Duration: 6.6 years ‒ Effective interest rate: 2.25% p.a. 179 145 ‒ Uncommitted lines of credit: €1,860m 1) 23 47 44 43 38 ‒ Commited lines of credit: €1,000
Slide 17: Expansion of new renewables generation
Expansion of new renewables generation (Wind & PV, without B2B, as of 30/9/2025) Assets in operation: In operation/ in construction / target 2030: EBITDA 2025e: €15.4m In operation/ in construction / target 2030: 874 MW Wind // 318 MWp PV 125 MW / 18 MW / 233 MW Historic CAPEX¹: €1.5m 116 MW / – / 1
Slide 18: 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 19: Income statement
Income statement €m Q1–3/2024 Q1–3/2025 Total Total Revenue 5,837.6 5,876.7 Electricity revenue 4,940.7 4,812.7 Grid revenue 678,8 842.7 Other revenue 218.1 221.4 Other operating income 103.8 93.9 Expenses for electricity purchases & use of fuels –2,770.0 –3,016.0 Other operating & personnel expense
Slide 20: Balance sheet (short version)
Balance sheet (short version) €m 31.12.2024 30.9.2025 Change Non-current assets 16,220 16,324 1% Current assets 2,498 1,984 -21% Total assets 18,718 18,309 -2% Equity 11,065 11,042 0% Non-current liabilities 5,880 5,434 -8% Current liabilities 1,774 1,833 3% Total liabilities 18,718 18,309 -2% Seite
Slide 21: Cash flow statement (short version)
Cash flow statement (short version) €m Q1–3/2024 Q1–3/2025 Change Cash flow from operating activities 2,333 1.654 –29% Cash flow from investing activities –788 -899 – Cash flow from financing activities –1,780 -1.365 – Change in cash and cash equivalents –235 -610 – Cash and cash equivalents at the
Slide 22: Capital market calendar 2026
Capital market calendar 2026 18/3/2026 Annual result and publication of annual report 2025 11/4/2026 Record date for Annual General Meeting 21/4/2026 Annual General Meeting 28/4/2026 Ex-dividend date 29/4/2026 Record date dividends 11/5/2026 Dividend payment date 13/5/2026 Result and interim report
Slide 23: 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 23
Slide 24: 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 25: =_ ke Ko
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