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2020/03/24 / Erste Group Research

Verbund: Positive development of credit metrics continues

Verbund reported consolidated revenues of EUR 3,895mn for the financial year 2019 (+45.8% y/y). Operative cash flow jumped in 2019 to EUR 1,204mn (+81.3% y/y), free cash flow reached a new record high at EUR 705mn.

Verbund’s net debt has continuously declined since 2014, by a total of -44.4%. At the end of 2019, it was at a new historic low and amounted to EUR 2,256mn (-11.9% y/y). Consequently, all credit metrics have further improved.

Provided average framework conditions prevail, in the financial year 2020, management expects an EBITDA of EUR 1,150-1,340mn and a consolidated net earnings adjusted for non-recurring effects of EUR 510-630mn.

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General information

AuthorErste Group Research
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria
Currency in focusEuro
Sector in focus-


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