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21st Austria weekly - Immofinanz, Verbund (13/05/2020)

17.05.2020

Immofinanz: Austrian based CEE real estate group Immofinanz expects a substantial improvement in rental income and the results of operations for the first quarter of 2020. The estimated increases range from 13.0% to 15.0% versus Q1 2019. The Covid-19 pandemic is expected to result in negative effects of EUR -45.0 million from the valuation of standing investments (which represents approx. 0.85% of investment property at the end of March 2020). This is primarily attributable to the slight increase in market yields, above all in the retail sector. In particular, these valuation results are expected to result in negative earnings for the period.
Immofinanz: weekly performance: -9.57%

Verbund: Austrian utility company Verbund announced that it is well positioned for 2020 despite the difficult energy landscape. In quarter 1/2020, the company therefore recorded satisfactory business performance despite the coronavirus crisis. EBITDA fell only slightly (by 4.9%) to Euro 331.0 mn. The Group result was down 12.1% on the prior-year period to Euro 156.5 mn. Earnings benefitted from the rise in electricity prices for 2020 on the futures markets that had already been secured in 2019 and the slightly higher earnings contributions from the New renewables and Sales segments. The earnings trend was negatively impacted by the lower water supply, which with a hydro coefficient of 1.09 in quarter 1/2020 was 9% above the long-term average, but 12 percentage points below the figure for quarter 1/2019. The fall in electricity prices on the spot markets due to the effects of the coronavirus crisis and the lower contributions to earnings from the Grid segment as a result of the decline in demand for electricity also had a negative effect. The free cash flow in quarter 1/2020 came to Euro 150.2 mn, allowing net debt to be reduced by 6.7% to Euro 2,104.2m. Based on expectations of average levels of own generation from hydropower and wind power in quarters 2–4/2020 as well as the opportunities and risks identified, EBITDA of between approximately Euro 1,090m and Euro 1,250 mn and a Group result of between approximately Euro 470m and Euro 560m in financial year 2020 are forecast. 
Verbund: weekly performance: -9.14%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (13/05/2020)


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21st Austria weekly - Immofinanz, Verbund (13/05/2020)


17.05.2020


Immofinanz: Austrian based CEE real estate group Immofinanz expects a substantial improvement in rental income and the results of operations for the first quarter of 2020. The estimated increases range from 13.0% to 15.0% versus Q1 2019. The Covid-19 pandemic is expected to result in negative effects of EUR -45.0 million from the valuation of standing investments (which represents approx. 0.85% of investment property at the end of March 2020). This is primarily attributable to the slight increase in market yields, above all in the retail sector. In particular, these valuation results are expected to result in negative earnings for the period.
Immofinanz: weekly performance: -9.57%

Verbund: Austrian utility company Verbund announced that it is well positioned for 2020 despite the difficult energy landscape. In quarter 1/2020, the company therefore recorded satisfactory business performance despite the coronavirus crisis. EBITDA fell only slightly (by 4.9%) to Euro 331.0 mn. The Group result was down 12.1% on the prior-year period to Euro 156.5 mn. Earnings benefitted from the rise in electricity prices for 2020 on the futures markets that had already been secured in 2019 and the slightly higher earnings contributions from the New renewables and Sales segments. The earnings trend was negatively impacted by the lower water supply, which with a hydro coefficient of 1.09 in quarter 1/2020 was 9% above the long-term average, but 12 percentage points below the figure for quarter 1/2019. The fall in electricity prices on the spot markets due to the effects of the coronavirus crisis and the lower contributions to earnings from the Grid segment as a result of the decline in demand for electricity also had a negative effect. The free cash flow in quarter 1/2020 came to Euro 150.2 mn, allowing net debt to be reduced by 6.7% to Euro 2,104.2m. Based on expectations of average levels of own generation from hydropower and wind power in quarters 2–4/2020 as well as the opportunities and risks identified, EBITDA of between approximately Euro 1,090m and Euro 1,250 mn and a Group result of between approximately Euro 470m and Euro 560m in financial year 2020 are forecast. 
Verbund: weekly performance: -9.14%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (13/05/2020)




 

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