Ad hoc announcement VERBUND AG / Keyword(s): Quarter Results/Interim Report VERBUND AG: VERBUND Q1-3/2012: Higher Group result, 2012 outlook raised Ad hoc announcement transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------ VERBUND, Austria's leading electricity company, achieved good results in quarters 1-3/2012 despite the challenging market and industry environment. Key figures Unit Q1-3/2012 Q1-3/2011 Change Revenue* EURm 2,294.0 2,201.9 4.2% Operating result** EURm 679.5 868.0 -21.7% Operating result before effects from impairment tests** EURm 732.6 665.7 10.1% Return on sales (ROS, EBIT margin)* ** % 29.6 39.4 - EBITDA** EURm 937.5 841.4 11.4% EBITDA margin* ** % 40.9 38.2 - Group result** EURm 332.2 315.4 5.3% Earnings per share** EUR 0.96 0.91 5.3% Cash flow from operating activities EURm 583.3 638.1 -8.6% Gearing ratio** % 82.5 81.8 - *The key figures were adjusted to reflect the changes in accounting treatment for energy derivatives in the wholesale portfolio. The change was implemented retrospectively effective 1 January 2011 in accordance with IAS 8. **The key figures were adjusted to reflect the (early application of) changes in accounting treatment for employee benefits in accordance with IAS 19 (2011). The change was implemented retrospectively effective 1 January 2011 in accordance with IAS 8. Group result increased In quarters 1-3/2012, operating business was driven in particular by good water supply. At 1.07, the hydro coefficient was 7.0% above the long-term average and 19 percentage points above the previous year's figure. In addition, VERBUND benefited from higher sales prices as a result of its hedging strategy: at an average of EUR56.0/MWh, electricity prices applicable for the 2012 financial year already traded in 2011 via futures contracts ('Year Base 2012') were up 12.2% over the previous year's level. In contrast, spot market prices fell by 16.5% to EUR43.0/MWh in quarters 1-3/2012. In quarters 1-3/2012, however, the operating result fell by 21.7% to EUR679.5m due to the first-time measurement of the gas supply agreement for the Mellach CCGT and due to positive effects from impairment tests in quarter 3/2011. The operating result before effects from impairment tests increased by 10.1% to EUR732.6m. The Group result increased by 5.3% to EUR332.2m, in particular due to the significant improvement of the financial result. Outlook for the full year Assuming average water supply in quarter 4/2012, we expect an operating result of around EUR830m and a Group result of around EUR380m for the entire year. The dividend policy will aim for a payout ratio of approximately 50% of the Group result. Please find further information and the interim report quarters 1-3/2012 on www.verbund.com Contact: Andreas Wollein Head of Group Finance and Investor Relations T.: +43 (0)5 03 13 - 52604 F.: +43 (0)5 03 13 - 52694 mailto:investor@verbund.com 24.10.2012 DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: VERBUND AG Am Hof 6A 1010 Wien Austria Phone: 0043-1-53113-52616 Fax: 0043-1-53113-52694 E-mail: investor@verbund.com Internet: www.verbund.com ISIN: AT0000746409 WKN: 877738 Indices: ATX Listed: Wien (Amtlicher Handel / Official Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------