Verbund stock faces a weaker 2026 earnings setup

Published on 11/09/2026 at 18:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Verbund stock enters a weaker 2026 setup as hydro earnings slide. The Austrian utility reset its targets after nine-month profit fell sharply.

Hydro weakness reshapes 2026 outlook

Low water supply reduced hydropower generation and weighed on nine-month profitability.
VERBUND replaced its previous 2026 forecast ranges with new earnings targets.
Higher contributions from Sales and other segments only partly offset the Hydro decline.

Verbund AG, AT0000746409, Illustration mit AI erstellt.

VERBUND's first nine months were hit by historically low water supply and weaker prices for electricity generated by its hydropower fleet. In its November 5 corporate release, the Austrian utility reported a 29.0% year-on-year decline in EBITDA to 1,498.5 million euros and a 43.5% drop in Group result to 684.8 million euros for quarters 1-3/2026.

Hydropower remains the main drag

Hydropower generation fell by 20.2% to 15,984 GWh. The run-of-river hydro coefficient dropped to 0.61 from 0.79 a year earlier and stood 39 percentage points below its long-term average.

The average sales price achieved for the Group's own hydropower generation declined by 33.8 euros per megawatt-hour to 79.7 euros per megawatt-hour. VERBUND said it had to buy back electricity volumes that had already been sold but could not be generated because of the weak water supply, at substantially higher spot-market prices.

New targets set for 2026

VERBUND replaced its previous forecast ranges with targets of 2,120 million euros for EBITDA, 1,010 million euros for reported Group result and 1,050 million euros for adjusted Group result. The outlook assumes below-average water supply in October and average own generation from hydropower, wind and photovoltaic assets in November and December.

Wind and photovoltaic generation increased by 70 GWh to 1,622 GWh, but the additional output did not offset the Hydro segment's weakness. Contributions from Sales and other segments provided some support.

Share price adds a fresh comparison

Verbund stock traded at 71.30 euros on Lang & Schwarz at 18:20 CET on Monday, November 9, 2026.

That price was 1.59% below the 72.45 euros cited for Lang & Schwarz at 11:30 CET in the previous report published on November 9. The comparison reflects the move since that report and is separate from the daily performance against a Xetra close.