VERBUND AG Reports Decline in Earnings Amidst Challenging Conditions

VERBUND AG's financial results for the first half of 2026 were significantly impacted by below-average water supply and declining sales prices, leading to a notable decrease in earnings. The company's EBITDA fell by 24.9% to €1,061.5m, while the Group result dropped by 35.4% to €518.1m. Adjusted results showed a 31.4% decrease compared to the previous year.

The hydro coefficient for run-of-river plants was 0.68, significantly below the long-term average. Hydropower generation declined by 9.8%, while electricity from new renewable sources like wind and photovoltaics increased. However, the renewables segment was still affected by lower sales prices.

The negative impact on earnings was partially offset by improved results in the Grid, Sales, and thermal generation segments. Despite these pressures, VERBUND adjusted its 2026 guidance, forecasting an EBITDA between €2,100m and €2,400m and a Group result ranging from €1,000m to €1,150m.