Verbund: Economist sees 362 million euros “excess profit” in the quarter

The higher electricity wholesale prices are again leaving their mark on the balance sheet of the domestic energy supplier Verbund. At EUR 514.4 million, consolidated earnings in the first quarter were 256 percent up on the previous year. The outlook for the full year has been raised. The management now expects 1.55 to 2 billion euros in net profit instead of the previous 1.4 to 2 billion euros, it said on Thursday.

Economist Oliver Picek from the Momentum Institute locates an “excess profit” of EUR 362 million in the first quarter due to the electricity price effect. “The excess profit is defined as the difference to the pre-war level,” explains Picek in a broadcast. If you compare the Verbund result for the first quarter of 2022 with the average for the first quarter of 2018 to 2020 – before the extraordinary price increases – the result is a Profit increase of 238 percent, ie an excess profit of 362 million euros in the first three months of this year alone.

90 percent profit tax

There are also signs of a high excess profit for the other quarters, especially since the association expects a profit of up to two billion euros for the full year 2022. “The state can skim off these profits with an excess profit tax. It can be given back to those who are suffering from rising prices and constantly paying higher electricity bills,” says Picek. The Momentum Institute recommends a profit tax of at least 90 percent on excess profits. With this tax rate, the state revenue from an excess profit tax alone through the association could amount to up to 1.05 billion euros in 2022.

Sales tripled

Other figures from the quarterly balance sheet: In the first quarter, sales of EUR 2.532 billion were more than three times as high as in the previous year (+210 percent). Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 169 percent to EUR 814.9 million from January to March – for the full year EUR 2.8 to 3.5 billion instead of the previous EUR 2.6 to 3.5 billion euros expected.

positive effects

In addition to the strong increase in futures and spot market prices on the wholesale market for electricity, there was also a positive contribution to earnings from the full consolidation of Gas Connect Austria GmbH (GCA). The regulated long-distance gas and distribution system operator in Austria was acquired with effect from May 31, 2021. The contribution of flexibility products also increased significantly. In the thermal generation segment, the increased use of the gas-fired combined cycle power plant in Mellach led to positive earnings contributions.

By Editor

One thought on “Verbund: Economist sees 362 million euros “excess profit” in the quarter”
  1. The Best Penis Enlarger? Here is The three Alternatives That May possibly Aid You Make a decision – Acebaitsusa
    Penis Enlargement Techniques – 4 Advisable Penis Enlargement Strategies – hrvatski-blok
    Just How Secure Are Penis Enlargement Strategies? – accion-kreativa
    The Greatest Penis Enlarger? This is The three Choices That Might Help You Choose | Admseacon
    The Ideal Penis Enlarger? Here is The 3 Options That May possibly Help You Choose – akhkharuhymns
    Penis Enlargement – Which Penis Enlargement Techniques Are Safe And Include Inches Permanently? – vegoncall
    Penis Enlargement – Which Penis Enlargement Strategies Are Secure And Incorporate Inches Completely? – abc18lima
    Data On Penis Enlargement And Various Strategies – Ahorn-Rheinbach
    Details On Penis Enlargement And Numerous Strategies – rtstc
    The Greatest Penis Enlarger? This is The 3 Alternatives That Could Assist You Make a decision | Hollandtelevision
    Penis Enlargement – Which Penis Enlargement Approaches Are Protected And Incorporate Inches Completely? – Globalcallcentre
    The Greatest Penis Enlarger? Here's The three Alternatives That May Support You Decide – albumesycromos
    Info On Penis Enlargement And Numerous Strategies – Akeeneimage
    Just How Secure Are Penis Enlargement Approaches? – Al7br
    The Best Penis Enlarger? Here's The three Choices That Might Aid You Determine | justspecialzone
    Penis Enlargement Tactics – four Recommended Penis Enlargement Strategies – nighbiz
    Penis Enlargement – Which Penis Enlargement Approaches Are Secure And Include Inches Completely? – 1059jamz
    The Best Penis Enlarger? This is The 3 Alternatives That May Help You Make a decision – Akai-Talk
    Info On Penis Enlargement And Various Strategies – alain-agius
    Penis Enlargement – Which Penis Enlargement Methods Are Risk-free And Insert Inches Permanently? – Airphotome
    The Greatest Penis Enlarger? Here’s The three Alternatives That Might Aid You Determine – accessibletrainingbuilder
    Penis Enlargement – Which Penis Enlargement Methods Are Safe And Include Inches Permanently? – alfurrsan
    Penis Enlargement Strategies – four Advisable Penis Enlargement Approaches – Alaintingaud-Innovations
    Data On Penis Enlargement And Various Techniques | Cab-Comm
    Just How Secure Are Penis Enlargement Techniques? – Jewelers-Guild

Leave a Reply