Verbund AG (MEX:VER)

MXN 1170.5 0 (0%) Market Cap: 511.95 Bil Enterprise Value: 519.03 Bil PE Ratio: 14.58 PB Ratio: 2.52 GF Score: 84/100

Full Year 2023 Verbund AG Earnings Call Transcript

Mar 14, 2024 / 10:00AM GMT

Release Date Price: MXN1170.5

Transcript

Operator

Ladies and gentlemen, welcome to the conference call on the full year results 2023 of VERBUND AG. I am George, the Chorus Call operator. (Operator Instructions) And the conference is being recorded. (Operator Instructions) At this time, it's my pleasure to hand over to Peter Kollmann. Please go ahead.

Peter F. Kollmann

VERBUND AG - CFO & Member of the Executive Board

Thank you, ladies and gentlemen, let us welcome you to our presentation of VERBUND for '23. And let me thank you for joining today's conference call. Before we move into the analysis of business development, let me make a few general comments. VERBUND achieved an exceptionally good result in '23. This positive earnings development was primarily driven by high wholesale prices for electricity, the better water supply compared to '22, the strong results from our regulated Grid business, and the increased contribution from New Renewables.

However, this earnings development is not sustainable. The significant change in the energy industry parameters means that the '24 results are

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