Ad hoc announcement VERBUND AG / Keyword(s): Quarter Results/Interim Report VERBUND AG: results for quarters 1-3/2013: Positive income trend despite difficult market environment Ad hoc announcement transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------ VERBUND's key figures were as follows in quarters 1-3/2013: Key figures Unit Q1-3/2012 Q1-3/2013 Change Revenue EURm 2,294.0 2,409.2 5.0% EBITDA EURm 936.0 1,094.3 16.9% Operating result EURm 679.5 113.4 -83.3% Group result EURm 332.8 510.4 53.4% Earnings per share EUR 0.96 1.47 53.4% EBIT margin % 29.6 4.7 - EBITDA margin % 40.8 45.4 - Cash flow from operating activities EURm 583.3 670.2 14.9% Free cash flow EURm 107.7 500.5 364.7% Gearing ratio % 82.5 69.9 - Income performed positively in the first 9 months of 2013 against the backdrop of a difficult market environment. The operating business was driven by the good water supply in quarters 1-3/2013. The hydro coefficient was 1.04, 4.0% above the long-term average but 3 percentage points below the previous year's figure. Newly acquired power plant interests in Germany (+1,063 GWh) and higher generation of annual storage and pumped storage power plants (+187 GWh, or +5.4%) accounted for most of the year-on-year increase in hydropower generation of 680 GWh. Generation from wind power rose by 196 GWh to 351 GWh due to the commissioning of installations in Romania and Germany. However, generation from thermal power plants decreased by 282 GWh owing to market conditions. Overall, VERBUND's own generation in quarters 1-3/2013 was 594 GWh higher than in quarters 1-3/2012. However, the overall decline in wholesale electricity prices and the continuing difficult economic climate for gas power plants put a strain on business operations. EBITDA improved by EUR158.3m year-on-year to EUR1,094.3m. The income trend was also influenced by significant non-recurring effects. Successful completion of the asset swap with German utility E.ON had a positive effect, while impairment losses resulting from impairment tests - particularly in the area of gas power plants - had a negative effect. Taking into account all non-recurring effects plus additional negative results from Sorgenia in Italy, the Group result nonetheless increased by EUR177.7m to EUR510.4m. Outlook Based on our updated income trend, we now expect EBITDA for financial year 2013 to be higher than originally forecast at approximately EUR1,250m. The Group result is expected to amount to around EUR600m. The forecast is based on a hydro coefficient of 1.03. We plan to distribute a dividend of EUR1 per share for financial year 2013. Additional information and the interim financial report for quarters 1-3/2013 is available at www.verbund.com > Investor Relations > Latest financial results. 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 29.10.2013 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 ---------------------------------------------------------------------------