Verbund AG

Verbund is a public utility company engaged in the generation and transmission of electricity from subsidiaries' hydro and thermal power stations located throughout Austria. Through its subsidiaries, Co. is involved in the planning and construction of water systems, hydroelectric power plants, river structures, sewage disposal systems, and high voltage transmission towers and lines. Co. generates, trades and sells electrical energy to power exchange buyers, traders, energy supply companies and industrial companies as well as households and commercial customers.
  • TickerVER
  • ISINAT0000746409
  • ExchangeVienna Stock Exchange
  • SectorElectricity
  • CountryAustria

Analysts

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/07/2019

While, since the creation of the banking union, Germany has steadfastly opposed the idea of setting up a common scheme to guarantee savers’ deposits, the article published in the Financial Times on Wednesday 6 November by the German finance minister has come as a bombshell. There is still a long way to go, but this statement responds to a real need for capital market unification and investors want to believe in this scenario. At the sector level, our analysts believe that it will rela...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/11/2019

Alors que l’Allemagne s’est opposée depuis la création de l’Union Bancaire à la création d’un fonds de garantie des dépôts au niveau européen, l’article publié dans le FT du ministre allemand des finances a fait l’effet d’une « bombe ». Il y a loin encore de la coupe aux lèvres, mais cette déclaration répond à un vrai besoin d’unification des marchés de capitaux et les investisseurs veulent y croire. Sur le plan sectoriel, nos analystes pensent qu’elle relancera les scénarios de conso...

Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

Verbund : 9M earnings miss forecasts. Reduce rating reiterated

>Earnings miss forecasts and slight change to the guidance - Verbund yesterday morning reported its earnings for the first nine months of the year. EBITDA came in at € 946m and adjusted EBIT at € 677m, falling short of our estimates and consensus forecasts. Recurring EPS came to € 1.30, undershooting forecasts (see the table on page 2 for further details). The group has slightly narrowed its guidance range for 2019. Verbund now expects EBITDA between € 1,190m and € 1,...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/11/2019

...

Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

Verbund : Results below expectations

>Results below our and consensus estimates - This morning at 8.00 a.m. CET, Verbund released its 9M 2019 results which were below our and consensus estimates. EBITDA came in at € 946m (ODDO BHF at € 975m and consensus at €971m) and adjusted EBIT came in at € 677m (ODDO BHF at € 705 and consensus at € 701m). The 9M results benefited from: i/ higher-than-expected water supply which was +2% above the long-term average and +6% above 9M 2018; ii/ higher average achieved pr...

Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

Verbund : 9M earnings miss forecasts. Reduce rating reiterated

>Earnings miss forecasts and slight change to the guidance - Verbund yesterday morning reported its earnings for the first nine months of the year. EBITDA came in at € 946m and adjusted EBIT at € 677m, falling short of our estimates and consensus forecasts. Recurring EPS came to € 1.30, undershooting forecasts (see the table on page 2 for further details). The group has slightly narrowed its guidance range for 2019. Verbund now expects EBITDA between € 1,190m and € 1,...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Anis Zgaya
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Harald Eggeling
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/11/2019

...

Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

Verbund : Results below expectations

>Results below our and consensus estimates - This morning at 8.00 a.m. CET, Verbund released its 9M 2019 results which were below our and consensus estimates. EBITDA came in at € 946m (ODDO BHF at € 975m and consensus at €971m) and adjusted EBIT came in at € 677m (ODDO BHF at € 705 and consensus at € 701m). The 9M results benefited from: i/ higher-than-expected water supply which was +2% above the long-term average and +6% above 9M 2018; ii/ higher average achieved pr...

Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

Verbund : All good things must come to an end

Having accompanied part of Verbund’s performance since 2016, we downgraded our rating on the stock to Neutral on 8 November 2018. All of the elements are now in place for a more marked profit-taking. We are downgrading our rating to Reduce (from Neutral). The sharp increase in electricity and CO2 prices that we were expecting has materialised and has contributed to supporting earnings growth. But history does not repeat itself and it becomes more and more difficult to identify to...

Anis Zgaya ...
  • Louis Boujard, CFA
  • Philippe Ourpatian

Verbund : Toutes les bonnes choses ont une fin

Après avoir accompagné une partie de la performance de Verbund depuis 2016 nous avions dégradé à Neutre le 8 novembre 2018. Aujourd’hui les éléments sont en place pour une prise de bénéfice plus marquée. Nous dégradons notre recommandation à Alléger (vs Neutre). La forte hausse des prix de l’électricité et du CO2 que nous attendions s’est matérialisée et a contribué à soutenir la progression des résultats. Mais l’histoire ne se répète pas et on peine à identifier aujourd’hui les ...

A director sold 8,359 shares at 19.720EUR and

A director at Oesterreichische Elektrizitats Ag sold 8,359 shares at 19.720EUR and the significance rating of the trade was 63/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/07/2019

While, since the creation of the banking union, Germany has steadfastly opposed the idea of setting up a common scheme to guarantee savers’ deposits, the article published in the Financial Times on Wednesday 6 November by the German finance minister has come as a bombshell. There is still a long way to go, but this statement responds to a real need for capital market unification and investors want to believe in this scenario. At the sector level, our analysts believe that it will rela...

Alain William ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/11/2019

Alors que l’Allemagne s’est opposée depuis la création de l’Union Bancaire à la création d’un fonds de garantie des dépôts au niveau européen, l’article publié dans le FT du ministre allemand des finances a fait l’effet d’une « bombe ». Il y a loin encore de la coupe aux lèvres, mais cette déclaration répond à un vrai besoin d’unification des marchés de capitaux et les investisseurs veulent y croire. Sur le plan sectoriel, nos analystes pensent qu’elle relancera les scénarios de conso...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Anis Zgaya
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/02/2019

...

Ahmed Ben Salem ...
  • Alain William
  • Alfred Glaser
  • Anis Zgaya
  • Baptiste Lebacq
  • Benoit Valleaux
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Steven Gould

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 02/08/2019

...

Alain William ...
  • Antoine Boivin-Champeaux
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Geoffroy Michalet
  • Georges Dieng
  • Jean Sassus
  • Johanna Jourdain
  • Louis Boujard, CFA
  • Matthias Desmarais
  • Philippe Ourpatian
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/01/2019

Market expectations of a cut in the Fed’s policy rates have come true... Unless that is, that the Fed that has aligned itself with investor expectations. Is this really good news for equity markets? Not necessarily, as the recent trend in the cost of capital, in a context of a slowdown in earnings growth, tends to demonstrate the latter’s inertia. In other words, the gain on the risk-free rate is absorbed by an equivalent (if not greater) increase in the risk premium. Conclusion: indi...

VERBUND AG loses on its star level and is downgraded to Slightly Positive

The independent financial analyst theScreener just slightly lowered the general evaluation of VERBUND AG (AT), active in the Alternative Electricity industry. The title has lost a star(s) at the fundamental level and now shows 3 out of 4 stars. Its exposure to market risk remains nonetheless the same and can be still described as defensive. theScreener slightly downgrades the general evaluation to Slightly Positive for the title on account of the lost star(s). As of the analysis date February 19, 2019, the closing price was EUR 43.18 and its potential was estimated at EUR 48.25.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

MarketLine Department

RWE AG - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's RWE AG Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by RWE AG since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights This repo...

Expert Corporate Governance Service (ECGS)

Verbund - AGM 30 April 2019

Item 4: Since there is no vote on Management Board members' remuneration in Austria, we take the opportunity to voice our concerns regarding the remuneration system currently in place at Verbund which we consider has several shortcomings: The target amounts for the short-term incentive (STI) have not been disclosed and the performance criteria are insufficiently disclosed. Furthermore, there is no long-term incentive (LTI) in place for Management Board members. Finally, pension benefits are also insufficiently disclosed. Although we consider the absolute amounts paid to the Management Board me...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Bund daily technical analysis

Trade ideas and signals, with stop loss levels and targets.

Bund daily technical analysis

Trade ideas and signals, with stop loss levels and targets.

Bund daily technical analysis

Trade ideas and signals, with stop loss levels and targets.

Bund daily technical analysis

Trade ideas and signals, with stop loss levels and targets.

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