15.4 C
Tuesday, March 21, 2023

Verbund increases dividend significantly

Must read

- Advertisement -
Verbund boss Michael Strugl understands the annoyance of the customers about the high electricity prices.
Image: VOLKER Weihbold
- Advertisement -

Earnings before interest, depreciation and amortization (EBITDA) doubled to EUR 3.16 billion, and consolidated earnings increased by 97 percent to EUR 1.72 billion. The shareholders, including the Republic of Austria, should benefit from the good development.

The partially state-owned group intends to distribute a significantly higher dividend of EUR 3.60 per share for 2022. This dividend consists of an ordinary dividend of EUR 2.44 per share and a special dividend of EUR 1.16 per share, the company announced on Thursday when it presented its results. In 2021, the dividend was EUR 1.05 per share.

- Advertisement -

The association also recorded a doubling of the operating result (EBIT) to EUR 2.63 billion. Sales revenues increased sharply by 117 percent to EUR 10.35 billion. However, due to the dry summer, generation from run-of-river power was well below average in the 2022 financial year. At 0.86, the hydro coefficient was 9 percentage points below the value of the previous year and 14 percentage points below the long-term average.

For the 2023 financial year, the electricity group expects EBITDA of between around EUR 3.5 and 4.4 billion and consolidated earnings of between around EUR 1.9 and 2.5 billion. The payout ratio should be between 45 and 55 percent.

more from economy

Crédit Suisse wants to borrow up to CHF 50 billion from the Swiss National Bank

Steyr Motors is cutting up to 50 jobs

Hofer is looking for a warehouse location in Upper Austria

A major Swiss bank is dragging Europe’s stock exchanges down

: Nachrichten

- Advertisement -


More articles


Please enter your comment!
Please enter your name here

- Advertisement -

Latest article