Verbund stock faces earnings reset as hydro output falls

Published on 11/07/2026 at 12:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Verbund stock entered the week with weaker hydro earnings and a lower 2026 outlook. Construction began on Albania's first commercial-scale wind farm.

Hydropower Weakness Meets Renewable Expansion

VERBUND's EBITDA fell 29.0 percent to 1,498.5 million euros in the first three quarters of 2026.
The company lowered its 2026 outlook to EBITDA of around 2,120 million euros and an adjusted Group result of around 1,050 million euros.
Construction of Albania's 72.6-megawatt Spille wind farm began, with commercial operation targeted for the first quarter of 2028.

Verbund AG, AT0000746409, Illustration mit AI erstellt.

VERBUND reported a sharp earnings decline for the first three quarters of 2026 on Thursday, November 5. The Austrian utility said historically low water supply reduced hydropower generation, while lower achieved sales prices added pressure on earnings.

EBITDA fell 29.0 percent year on year to 1,498.5 million euros, while Group result declined 43.5 percent to 684.8 million euros. After adjustment for non-recurring effects, Group result was 725.0 million euros, down 37.3 percent from the prior-year period, according to VERBUND.

Hydro Output Drives Earnings Pressure

Hydropower generation dropped 20.2 percent to 15,984 gigawatt-hours. The hydro coefficient for run-of-river plants fell to 0.61, compared with 0.79 a year earlier, while the average achieved price for own hydropower generation declined by 33.8 euros per megawatt-hour to 79.7 euros.

VERBUND now expects 2026 EBITDA of around 2,120 million euros, reported Group result of around 1,010 million euros and adjusted Group result of around 1,050 million euros. The revised outlook assumes below-average water supply in October and average own generation from hydropower, wind power and photovoltaics in November and December.

Albania Project Adds Renewable Capacity

On Tuesday, November 3, construction began on the 72.6-megawatt Spille wind farm in Rrogozhine, according to Inspenet. The project is expected to enter commercial operation in the first quarter of 2028 and produce approximately 130,000 megawatt-hours of electricity annually.

VERBUND stock traded at 72.60 euros on Lang & Schwarz at 12:44 CET on Saturday, November 7, 2026.

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European utilities remained sensitive to power prices, weather conditions and renewable-generation expectations during the week. See current Euro Stoxx 50 market coverage.

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