Announcement • Mar 19
VERBUND AG announces Annual dividend, payable on May 11, 2026 VERBUND AG announced Annual dividend of EUR 2.0000 per share payable on May 11, 2026, ex-date on April 28, 2026 and record date on April 29, 2026. Announcement • Dec 09
VERBUND AG, Annual General Meeting, Apr 21, 2026 VERBUND AG, Annual General Meeting, Apr 21, 2026. Announcement • Dec 04
VERBUND AG Proposes Special Dividend for the Financial Year 2025 The Executive Board of VERBUND AG has resolved to propose to the 2026 Annual General Meeting a special dividend of €1.15 per share for financial year 2025 in addition to the regular dividend. The special dividend equates to an amount of approximately €400 million and supports shareholder-orientated capital allocation. Announcement • Mar 22
VERBUND AG Provides Earnings Guidance for the Year 2025 VERBUND AG provided earnings guidance for the year 2025. The company expects group result of between around €1,350 million and €1,750 million in financial year 2025. Announcement • Mar 21
VERBUND AG announces Annual dividend, payable on May 19, 2025 VERBUND AG announced Annual dividend of EUR 2.8000 per share payable on May 19, 2025, ex-date on May 06, 2025 and record date on May 07, 2025. Announcement • Jan 27
VERBUND AG, Annual General Meeting, Apr 29, 2025 VERBUND AG, Annual General Meeting, Apr 29, 2025. Reported Earnings • Nov 09
Third quarter 2024 earnings released: EPS: €1.37 (vs €2.00 in 3Q 2023) Third quarter 2024 results: EPS: €1.37 (down from €2.00 in 3Q 2023). Revenue: €1.97b (down 36% from 3Q 2023). Net income: €477.1m (down 31% from 3Q 2023). Profit margin: 24% (up from 22% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 6.0% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 1.9%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Oct 14
VERBUND AG to Report Fiscal Year 2024 Results on Mar 20, 2025 VERBUND AG announced that they will report fiscal year 2024 results at 8:00 AM, Central European Standard Time on Mar 20, 2025 Announcement • Aug 27
VERBUND AG (WBAG:VER) acquired remaining 50% stake in SOLAVOLTA Energie- und Umwelttechnik GmbH. VERBUND AG (WBAG:VER) acquired remaining 50% stake in SOLAVOLTA Energie- und Umwelttechnik GmbH on August 26, 2024. The Solavolta brand name will remain.
VERBUND AG (WBAG:VER) completed the acquisition of remaining 50% stake in SOLAVOLTA Energie- und Umwelttechnik GmbH on August 26, 2024. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: €1.16 (vs €2.18 in 2Q 2023) Second quarter 2024 results: EPS: €1.16 (down from €2.18 in 2Q 2023). Revenue: €1.91b (down 45% from 2Q 2023). Net income: €404.0m (down 47% from 2Q 2023). Profit margin: 21% (in line with 2Q 2023). Revenue is expected to decline by 8.6% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 1.5%. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • May 09
First quarter 2024 earnings released: EPS: €1.46 (vs €1.52 in 1Q 2023) First quarter 2024 results: EPS: €1.46 (down from €1.52 in 1Q 2023). Revenue: €2.05b (down 37% from 1Q 2023). Net income: €506.0m (down 4.3% from 1Q 2023). Profit margin: 25% (up from 16% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 17% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Mar 16
Full year 2023 earnings released Full year 2023 results: Revenue: €10.6b (up 1.9% from FY 2022). Net income: €2.27b (up 32% from FY 2022). Profit margin: 22% (up from 17% in FY 2022). The increase in margin was primarily driven by lower expenses. Revenue is forecast to decline by 20% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Declared Dividend • Feb 16
Dividend of €4.15 announced Shareholders will receive a dividend of €4.15. Ex-date: 7th May 2024 Payment date: 17th May 2024 Dividend yield will be 6.4%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (23% cash payout ratio). The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 42% over the next 3 years. However, it would need to fall by 64% to increase the payout ratio to a potentially unsustainable range. Buy Or Sell Opportunity • Feb 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €71.40. The fair value is estimated to be €89.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 51% over the last 3 years. Earnings per share has grown by 52%. For the next 3 years, revenue is forecast to decline by 18% per annum. Earnings are also forecast to decline by 14% per annum over the same time period. New Risk • Nov 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 11% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Oct 27
VERBUND AG acquired 38.4 MW Wind Portfolio in Germany's federal states of Hesse, North Rhine-Westphalia and Lower Saxony from a fund owned by investor Impax Asset Management Group Plc (LON:IPX). VERBUND AG acquired 38.4 MW Wind Portfolio in Germany's federal states of Hesse, North Rhine-Westphalia and Lower Saxony from a fund owned by investor Impax Asset Management Group Plc (LON:IPX) on October 25, 2023. The wind portfolio comprises five operational wind farms with a total capacity of 38.4 MW (Oedelum, Quelkhorn, Mariengarten, Münster and Frielendorf Süd) as well as a 18 MW wind project in Feldatal that is planned to come on stream in quarter 3/2024. VERBUND will only take over the project under construction after commissioning.VERBUND AG completed the acquisition of 38.4 MW Wind Portfolio in Germany's federal states of Hesse, North Rhine-Westphalia and Lower Saxony from a fund owned by investor Impax Asset Management Group Plc (LON:IPX) on October 25, 2023. Reported Earnings • Jul 31
Second quarter 2023 earnings released: EPS: €2.18 (vs €0.87 in 2Q 2022) Second quarter 2023 results: EPS: €2.18 (up from €0.87 in 2Q 2022). Revenue: €3.42b (up 56% from 2Q 2022). Net income: €758.3m (up 150% from 2Q 2022). Profit margin: 22% (up from 14% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to fall by 14% p.a. on average during the next 3 years compared to a 3.4% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • Jul 26
VERBUND AG (WBAG:VER) acquired Operative wind power plants in Spain from EDP Renewables Europe, S.L. VERBUND AG (WBAG:VER) acquired Operative wind power plants in Spain from EDP Renewables Europe, S.L. on July 25, 2023. VERBUND has acquired Operative wind power plants in Spain for an enterprise value of approximately €0.46 billion.
VERBUND AG (WBAG:VER) completed the acquisition of Operative wind power plants in Spain from EDP Renewables Europe, S.L. on July 25, 2023. New Risk • Jun 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.8% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Apr 25
Upcoming dividend of €3.60 per share at 3.0% yield Eligible shareholders must have bought the stock before 02 May 2023. Payment date: 15 May 2023. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.9%). Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: €0.71 (vs €0.76 in 3Q 2021) Third quarter 2022 results: EPS: €0.71 (down from €0.76 in 3Q 2021). Revenue: €2.93b (up 271% from 3Q 2021). Net income: €248.1m (down 5.6% from 3Q 2021). Profit margin: 8.5% (down from 33% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 8.8% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €95.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 11x in the Electric Utilities industry in Europe. Total returns to shareholders of 83% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €88.40 per share. Reported Earnings • Aug 01
Second quarter 2022 earnings released: EPS: €0.87 (vs €0.52 in 2Q 2021) Second quarter 2022 results: EPS: €0.87 (up from €0.52 in 2Q 2021). Revenue: €2.23b (up €1.90b from 2Q 2021). Net income: €302.8m (up 68% from 2Q 2021). Profit margin: 14% (down from 55% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to decline by 22% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 28% per year. Reported Earnings • May 31
First quarter 2022 earnings released: EPS: €1.48 (vs €0.42 in 1Q 2021) First quarter 2022 results: EPS: €1.48 (up from €0.42 in 1Q 2021). Revenue: €2.56b (up 279% from 1Q 2021). Net income: €514.4m (up 256% from 1Q 2021). Profit margin: 20% (down from 22% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to decline by 16% while the industry in Germany is not expected to grow. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 26% per year. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €83.85, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 88% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €108 per share. Upcoming Dividend • Apr 27
Upcoming dividend of €1.05 per share Eligible shareholders must have bought the stock before 02 May 2022. Payment date: 13 May 2022. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of German dividend payers (4.0%). Lower than average of industry peers (4.1%). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €84.70, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 105% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €48.59 per share. Reported Earnings • Nov 06
Third quarter 2021 earnings released: EPS €0.76 (vs €0.48 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: €809.0m (flat on 3Q 2020). Net income: €262.9m (up 57% from 3Q 2020). Profit margin: 33% (up from 21% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS €0.52 (vs €0.44 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: €346.6m (down 24% from 2Q 2020). Net income: €179.8m (up 17% from 2Q 2020). Profit margin: 52% (up from 34% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Executive Departure • Jun 15
Chairman of Supervisory Board Thomas Schmid has left the company On the 8th of June, Thomas Schmid's tenure as Chairman of Supervisory Board ended after 2.1 years in the role. We don't have any record of a personal shareholding under Thomas' name. A total of 7 executives have left over the last 12 months. The current median tenure of the management team is 2.42 years. Reported Earnings • May 13
First quarter 2021 earnings released: EPS €0.42 (vs €0.45 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and revenues, although profit margins were improved. First quarter 2021 results: Revenue: €691.0m (down 45% from 1Q 2020). Net income: €144.7m (down 7.5% from 1Q 2020). Profit margin: 21% (up from 12% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 20
Upcoming dividend of €0.75 per share Eligible shareholders must have bought the stock before 27 April 2021. Payment date: 10 May 2021. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (3.5%). Reported Earnings • Mar 18
Full year 2020 earnings released: EPS €1.82 (vs €1.60 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: €3.31b (down 15% from FY 2019). Net income: €631.4m (up 14% from FY 2019). Profit margin: 19% (up from 14% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 17
VERBUND AG Proposes Dividend for Financial Year 2020 VERBUND AG announced a dividend of EUR 0.75 per share for financial year 2020 will be proposed at the Annual General Meeting on 20 April 2021. The payout ratio calculated on the basis of the reported Group result amounts to 41.3% for 2020 and the payout ratio calculated on the basis of the Group result after adjusting for non-recurring effects is 42.7%. Is New 90 Day High Low • Feb 06
New 90-day high: €81.45 The company is up 53% from its price of €53.20 on 06 November 2020. The German market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.24 per share. Is New 90 Day High Low • Jan 20
New 90-day high: €78.95 The company is up 53% from its price of €51.65 on 22 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.81 per share. Is New 90 Day High Low • Jan 05
New 90-day high: €71.35 The company is up 42% from its price of €50.15 on 07 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €23.45 per share. Is New 90 Day High Low • Dec 10
New 90-day high: €60.50 The company is up 37% from its price of €44.16 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €26.38 per share. Is New 90 Day High Low • Nov 19
New 90-day high: €55.10 The company is up 24% from its price of €44.46 on 21 August 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €48.77 per share. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS €0.48 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: €827.5m (flat on 3Q 2019). Net income: €167.3m (up 48% from 3Q 2019). Profit margin: 20% (up from 14% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Oct 12
New 90-day high: €52.75 The company is up 23% from its price of €42.80 on 14 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electric Utilities industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €48.66 per share.