Verbund Raises 2020 View After 9-Month Profit Rise
05 Novembro 2020 - 6:42AM
Dow Jones News
By Olivia Bugault
Verbund AG said Thursday that profit rose in its first nine
months and raised its guidance for the year.
The Austrian electricity company posted a profit of 477.7
million ($560 million) during the period, compared with a profit of
EUR450.9 million the year prior.
Revenue fell 11% to EUR2.52 billion. Verbund said it benefited
from reduced interest expenses after making sizable debt repayments
the prior year.
Verbund now expects earnings before interest, taxes,
depreciation, and amortization for the year to come between roughly
EUR1.24 billion and EUR1.3 billion, compared with a previous
forecast of EUR1.15 billion to EUR1.25 billion.
Profit should be between around EUR570 million and EUR610
million compared with a previous range of EUR510 million-EUR570
million, it said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
November 05, 2020 04:27 ET (09:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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