VERBUND AG Reports Decline in Earnings Due to Low Hydropower Output and Windfall Tax

VERBUND AG recorded a notable decrease in earnings for the first three quarters of 2025, primarily due to reduced electricity production from hydropower and the extended windfall tax in Austria. EBITDA dropped by 19.6% to €2,111.1 million, while the Group result fell by 12.6% to €1,212.2 million. Adjusted for non-recurring effects, the Group result decreased by 22.2% to €1,155.7 million.

The hydro coefficient for run-of-river power plants was significantly below the prior year. Hydropower generation decreased by 23.1%, amounting to a drop of 6,032 GWh. Wind and photovoltaic outputs also diminished, with a decline of 131 GWh in generation. Expenses related to the windfall tax in Austria reached €112.0 million for the period.

Despite lower wholesale prices, the average sales price for hydropower slightly decreased to €113.5/MWh. Positive contributions from electricity grid operations and flexibility products partially mitigated the downturn. An adjusted Group result ranging from €1,450 million to €1,550 million is expected for 2025.