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 ...
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/23/2019

...

Alain William ...
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/05/2019

...

Louis Boujard ...
  • Philippe Ourpatian

Verbund : Feedback from Verbund road show. What is the medium-term growth strategy?

>How to optimise the surplus cash flow? - At the road show we organised with Verbund yesterday, we spoke about the group's strategic options for its medium-term growth. Earnings growth is reflected in a rapid increase in cash flow and the question of optimising capital allocation is becoming a priority.Continuing with deleveraging seems to make less and less sense - Having achieved a net debt/EBITDA ratio of 3x in 2018 with an A- rating from S&P and B...

Louis Boujard ...
  • Philippe Ourpatian

Verbund : Feedback roadshow. Quelle stratégie de croissance à moyen terme

>Comment optimiser l’excès de cash-flow - Dans le cadre du roadshow que nous avons organisé avec Verbund hier, nous avons eu l'occasion de revenir sur les options stratégiques de développement à moyen terme. La croissance des résultats se traduit par une progression rapide des cash-flows et la question de l’optimisation de l'allocation du capital devient prioritaire.Poursuivre le désendettement semble de moins en moins pertinent - Après avoir atteint ...

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...

Louis Boujard ...
  • Philippe Ourpatian

Verbund : Feedback from Verbund road show. What is the medium-term growth strategy?

>How to optimise the surplus cash flow? - At the road show we organised with Verbund yesterday, we spoke about the group's strategic options for its medium-term growth. Earnings growth is reflected in a rapid increase in cash flow and the question of optimising capital allocation is becoming a priority.Continuing with deleveraging seems to make less and less sense - Having achieved a net debt/EBITDA ratio of 3x in 2018 with an A- rating from S&P and B...

Louis Boujard ...
  • Philippe Ourpatian

Verbund : Feedback roadshow. Quelle stratégie de croissance à moyen terme

>Comment optimiser l’excès de cash-flow - Dans le cadre du roadshow que nous avons organisé avec Verbund hier, nous avons eu l'occasion de revenir sur les options stratégiques de développement à moyen terme. La croissance des résultats se traduit par une progression rapide des cash-flows et la question de l’optimisation de l'allocation du capital devient prioritaire.Poursuivre le désendettement semble de moins en moins pertinent - Après avoir atteint ...

Anis Zgaya ...
  • Louis Boujard
  • Philippe Ourpatian

Verbund : Guidance too cautious, target price € 42.0 vs € 40.0 – Neutral maintained

>Guidance overly cautious - Verbund has raised the low point of its EBITDA forecast range (see page 2) by +€ 50m, whilst leaving the top point unchanged. As a result, the mid-point of its guidance has been raised by +€ 25m, whilst the group has increased the EBITDA target for its grid activity by +€ 60m. We think that the group’s guidance is too cautious given the strong start to the year for the hydroelectricity business (a hydroelectric coefficient of 1.21 in Q1 and...

Anis Zgaya ...
  • Louis Boujard
  • Philippe Ourpatian

Verbund : Guidance trop prudente. OC relevé à 42.0 € vs 40.0 € et Neutre maintenu

>Guidance trop prudente - Verbund a augmenté le point bas de sa prévision d'EBITDA (voir page 2) de +50 M€ sans augmenter le haut de sa guidance. Ainsi, le point moyen de la guidance n'a augmenté que de +25 M€ alors que le groupe a augmenté de +60 M€ l’objectif d’EBITDA de son activité Grid. La guidance du groupe semble trop prudente eu égard au très bon début d'année de l'hydroélectricité (coefficient hydroélectrique de 1.21 au T1 et de 1.17 à ce jour vs moyenne long...

Alfred Glaser ...
  • Anis Zgaya
  • Delphine Brault
  • Emira Sagaama
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Matthias Desmarais
  • Philippe Ourpatian
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/08/2019

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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 ...
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/23/2019

...

Alain William ...
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/05/2019

...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/09/2019

...

Alain William ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Harald Eggeling
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Nicolas David
  • Olivier Lebrun
  • Philippe Ourpatian
  • Rémi Adam
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 09/05/2019

...

Alfred Glaser ...
  • Anis Zgaya
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Fatma Agnès Hamdani
  • Fehmi Ben Naamane
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Olivier Lebrun
  • Philippe Ourpatian
  • Sylvain Goyon
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/03/2019

La probabilité d’occurrence des risques majeurs identifiés par le marché (guerre commerciale, hard landing chinois, resserrement monétaire) a effectivement reculé. Le début d’année très dynamique des indices reconnait cet état de fait avec des niveaux qui flirtent avec nos objectifs de fin d’année (Stoxx 600 revu à 379 points). Dans ce contexte, favoriser les secteurs qui combinent : rerating des PE inférieurs à celui du marché, résilience des prévisions de BPA 2019e et 2020e non refl...

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...

Jason Sen

Bund daily technical analysis

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

Jason Sen

Bund daily technical analysis

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

Jason Sen

Bund daily technical analysis

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

Jason Sen

Bund daily technical analysis

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

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