Verbund stock faces earnings reset after weak hydropower quarter
Published on 11/10/2026 at 17:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSHydropower weakness resets earnings outlook
- VERBUND's first-nine-month earnings fell sharply as historically low water supply reduced hydropower generation.
- The company replaced its previous 2026 forecast ranges with specific EBITDA and Group result targets.
- Higher contributions from Sales and other segments only partly offset pressure in Hydro, new renewables and Grid.
VERBUND reported weaker first-nine-month results on Thursday, November 5, 2026, as historically low water supply reduced hydropower generation and lower realized sales prices added pressure. In the latest AD HOC NEWS report, the company’s Group result fell 43.5 percent year on year to 684.8 million euros. VERBUND stock traded at 72.33 euros on Lang & Schwarz at 17:39 CET on Tuesday, November 10, 2026, up 1.05 percent from 71.58 euros at 11:34 CET in the previous report.
Low water weighs on core generation
Hydropower generation declined 20.2 percent to 15,984 gigawatt-hours in the first three quarters. The run-of-river hydro coefficient fell to 0.61 from 0.79 a year earlier and stood well below its long-term average.
The average achieved sales price for VERBUND’s own hydropower generation dropped by 33.8 euros per megawatt-hour to 79.7 euros. The company said it had to buy back electricity that had already been sold but could not be generated because of weak water supply, with higher spot-market prices adding pressure.
Specific targets replace forecast ranges
VERBUND now expects 2026 EBITDA of around 2,120 million euros, a reported Group result of around 1,010 million euros and an adjusted Group result of around 1,050 million euros. The revised outlook includes below-average water supply in October and assumes average own generation from hydropower, wind power and photovoltaics in November and December.
Wind and photovoltaic generation increased by 70 gigawatt-hours to 1,622 gigawatt-hours as new facilities entered operation, but the gain did not offset weaker contributions from Hydro, new renewables and Grid. The planned 2026 payout ratio is 45 to 55 percent of Group result after adjustment for non-recurring effects.
VERBUND AG at a glance
- Company: VERBUND AG
- ISIN: AT0000746409
- Trading venue: Lang & Schwarz
- Price: 72.33 euros at 17:39 CET on November 10, 2026
- Change since prior report: 1.05 percent from 71.58 euros at 11:34 CET on November 10, 2026
- Reporting period: First three quarters of 2026
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