Ad-hoc | 27 April 2004 08:31

Verbund: Results Quarter 1/2004

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Highlights: – Two-digit growth in operating activities – Successful debt clearance continued – Risks (emission certificates, eco-electricity) minimized to the greatest extent possible – Austrian Electricity Solution on the home straight – Sales revenues increased by 22 % realizing higher wholesale prices and successful sales activities in the European core markets – Operating result higher by 22 % despite a 11 percentage points lower water availability and decreasing thermal generation – Group result lower due to negative currency effects and an one-off investment-income in quarter 1/2003 (-31 %) – Net gearing improved from 191 % to 153 % Results (EUR million) Sales revenues 727.8 +22.0 % Operating result (EBIT) 110.4 +21.5 % Group result 49.4 -30.9 % For further information see the online-annual report under http://www.verbund.at/ end of ad-hoc-announcement (c)DGAP 27.04.2004 ——————————————————————————– WKN: 074640; ISIN: AT0000746409; Index: ATX Listed: Amtlicher Handel in Wien; Amtlicher Markt (General Standard) in Frankfurt; Freiverkehr in Berlin-Bremen und Stuttgart 270831 Apr 04