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Money Verbund is Austria's first company with a value of 20 billion euros

17:00  27 november  2020
17:00  27 november  2020 Source:   finanzen.net

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VERBUND is Austria’ s leading electricity company and one of the largest producers of hydropower Investments in power plants and electricity grids play a major role in creating high added value and Our approximately 3,000 employees make us one of the companies with the greatest economic

VERBUND history: At first closely linked to the Austrian State, now an electricity producing Company History. VERBUND has been closely linked to the Austrian State for decades. Towards the middle of the decade, VERBUND had business relationships in more than 20 countries and had more

(Bloomberg) - Verbund AG was the first company in the history of the Vienna Stock Exchange to exceed a market capitalization of 20 billion euros and is therefore worth around twice as much second largest publicly traded company in the country.

The Verbund shares climbed to 57.65 euros today at 2:16 p.m., which corresponds to a total value of 20.1 billion euros. Erste Group Bank AG, the second largest company on the Vienna Stock Exchange, currently stands at 10.7 billion euros, followed by OMV AG with 9.87 billion euros.

Erste ATX-Firma mit über €20 Mrd. Börsenwert © Bloomberg First ATX company with a market value of over € 20 billion.

Skipping the symbolic mark represents a fundamental change in investment preferences. While banks such as Erste or Raiffeisen Bank International AG, as well as the state-owned oil and gas company OMV, traditionally topped the list in Vienna, Verbund, with its focus on low-emission production of electricity from renewable sources, is now the clear number 1.

thyssenkrupp also expects a billion-dollar loss in 2020/21 - thyssen share will be significantly weaker

 thyssenkrupp also expects a billion-dollar loss in 2020/21 - thyssen share will be significantly weaker After a massive slump in the steel and automotive supply business, thyssenkrupp had an operating loss (adjusted EBIT) of 1.63 billion in the past fiscal year 2019/20 without its elevator business, which has now been sold Euro completed. © Provided by Finanz.net Andrew Burton / Getty Images The minus is slightly better than expected by analysts, but 1.5 billion euros higher than in the previous year, as shown in the balance sheet presented in Essen.

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The Verbund Share has climbed 29% in the year to date and quickly left the corona-related slump in March behind. Verbund expects an annual profit of up to 600 million euros for 2020 after the company has raised its profit forecast twice since July.

Verbund produces almost all of its electricity from renewable energies, especially hydropower, and has thus become a preferred title for investors who have committed themselves to sustainability criteria and climate targets.

The Republic of Austria holds 51% of the share capital, followed by regional utilities. The free float is less than 20%.

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