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| Name | Symbol | Market | Type |
|---|---|---|---|
| Verbund AG (PK) | USOTC:OEZVY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.19 | -1.15% | 16.37 | 15.28 | 17.46 | 16.37 | 16.37 | 16.37 | 103 | 14:52:05 |
From Jul 2021 to Jul 2024
By Giulia Petroni
Verbund AG's shares rose on Thursday after the company reported a strong performance for 2021, driven by a sharp rise in wholesale electricity prices across Europe.
The Austrian electricity provider said earnings before interest, taxes, depreciation and amortization increased 22.1% on year, boosted by a marked rise in prices on spot markets and for short-term futures. Revenue climbed 38.5%.
At 0830 GMT, shares traded 6.4% higher at EUR95.85.
Verbund said it expects earnings to increase in 2022, with Ebitda in the range of around 2.6 billion to 3.5 billion euros ($2.87 billion-$3.86 billion), and net profit of about EUR1.4 billion to EUR2 billion.
The company's dividend proposal of EUR1.05 a share for 2021 is 40% higher compared with the previous year.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 17, 2022 04:52 ET (08:52 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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