Ad hoc announcement VERBUND AG / Keyword(s): Quarter Results/Interim Report VERBUND AG: Results for quarter 1/2013: Solid results in a difficult environment Ad hoc announcement transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------ VERBUND's business developed solidly in quarter 1/2013 in a difficult energy and general economic environment. Key figures Unit Q1/2012 Q1/2013 Change Revenue EURm 837.8 862.3 2.9% EBITDA* EURm 348.8 312.3 -10.5% Operating result* EURm 283.7 233.7 -17.6% Group result* EURm 129.1 77.1 -40.3% Earnings per share* EUR 0.37 0.22 -40.3% EBIT margin* % 33.9 27.1 - EBITDA margin* % 41.6 36.2 - Cash flow from operating activities EURm 246.1 285.1 15.8% Free cash flow EURm -144.8 53.4 - Gearing* % 82.0 60.7 - * The comparative figures were adjusted retrospectively in accordance with IAS 8 as a consequence of the first-time application of IAS 19 (2011) in quarter 3/2012. The operating business was positively impacted in quarter 1/2013 by a good water supply. The run-of-river power plants' hydro coefficient of 1.20 was 20.0% above the long-term average and 1 percentage point above the previous year's figure. Generation from the annual storage power plants increased considerably (+8.8%). Thus, generation from hydropower increased by 3.5%. In contrast, generation from thermal power plants decreased by 9.1%. Overall, VERBUND's own generation in quarter 1/2013 was up 1.9% over quarter 1/2012. However, the declining level of wholesale prices for electricity as a whole negatively impacted the earnings trend as did the continued difficult economic situation for gas power plants. Thus, EBITDA decreased by 10.5% to EUR312.3m and the operating result fell by 17.6% to EUR233.7m. The Group result decreased significantly by 40.3% to EUR77.1m. This can be attributed in particular to the negative contribution of Italian Sorgenia, primarily impacted by an impairment loss recognised for its 39% equity-accounted interest in Tirreno Power S.p.A. The resulting effect on VERBUND's profit or loss in quarter 1/2013 totalled EUR-38.4m. Outlook for the full year For financial year 2013, we plan to increase the dividend and pay a total of EUR1/share. This is based on successful completion of the asset swap with E.ON, the profits from which we will share with our shareholders. On the basis of average own generation from hydropower, we expect EBITDA for financial year 2013 to amount to approximately EUR1 billion. The year-to-date water supply in 2013 supports this outlook. Further information and the interim report quarter 1/2013 you can find on www.verbund.com Contact: Andreas Wollein Head of Group Finance and Investor Relations T.: +43 (0)5 03 13 - 52604 F.: +43 (0)5 03 13 - 52694 mailto:investor@verbund.com 02.05.2013 DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: VERBUND AG Am Hof 6A 1010 Wien Austria Phone: 0043-1-53113-52616 Fax: 0043-1-53113-52694 E-mail: investor@verbund.com Internet: www.verbund.com ISIN: AT0000746409 WKN: 877738 Indices: ATX Listed: Wien (Amtlicher Handel / Official Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------