The latest utilities industry and company news and analysis from FriedlNews
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Austrian Utilities Industry Headlines

EU Launches Nuclear Power Plant Infringement Procedure Against Hungary

The European Commission said it launched an infringement procedure against Hungary for failing to comply with European Union public procurement rules in an upgrade of the Paks nuclear power plant. The Hungarian government will implement the upgrade of the Paks nuclear power plant, Prime Minister Viktor Orban said in a regular interview on public radio on Friday.

November 20, 2015

Verbund Power 9 Mo Net Profit Surges to EUR 228.7 Mln, Hikes EBITDA Guidance

Listed power group Verbund raised 9-month net profit to EUR 228.7 million (USD 251.3 million) from EUR 63.8 million, while EBIT grew by 87.8 percent to EUR 386.4 million, the group said.

November 4, 2015

Verbund Wants to Buy Back Bonds for up to EUR 300 Million

The listed energy group Verbund wants to buy back up to EUR 300 million (USD 336 million) of the 2009-2019 bond. The offer is addressed to the holders of EUR 840 million bond issue with a 4.75-percent yield (maturity in 2019).

October 7, 2015

Prinzhorn Enters Power Market, Target 20K Customers in 3 Yrs

Paper industry family Prinzhorn is offering electricity from small hydro-power plants under the name of Mein-Alpen-Strom and targets 20k customers in three years, according to CEO Cord Prinzhorn.

September 8, 2015

EVN: Analysts Expect Improvement of Performance for Three Quarters

The analysts of Raiffeisen Centrobank (RCB) expect that EVN, the listed energy provider will report slightly improved three quarter results. RCB expects the revenue to hike 11 percent y/y to EUR 1.688 billion (USD 1.9 billion) in three quarters. EBITDA is expected to rise by one third to EUR 500.5 million.

August 26, 2015

Strabag Builds EUR 37 Million Power Plant in Switzerland

Strabag AG is building the Rhone Oberwald run-of-the-river hydroelectric plant in the Swiss canton of Valais. The contract value of € 37 million comprises the construction of the necessary tunnels, galleries and underground chambers.

June 5, 2015

Verbund Raises Earnings Forecast and Dividend for 2014

Verbund AG announced today that the earnings forecast for financial year 2014 is being raised. Verbund expects EBITDA of around €800m (previous forecast: €770m) and a Group result of around €125m (previous forecast: €85m) in financial year 2014. The planned dividend continues to be based on a payout ratio of approximately 50% of the adjusted group result which in 2014 will be around €210m (previous forecast: €190m).

January 22, 2015

Verbund Withdraws from Bulgaria

Verbund withdraws from Bulgaria by selling its 16 MW wind farm on the Bulgarian Black Sea coast to Inwind Sp Ltd, a project company of Bulgarian Inovent Holding AD. The transaction is scheduled to close by the end of 2014. Both companies agreed on not disclosing any financial details of the transaction.

October 30, 2014

Fischer: Room for Further Trade with Albania

Austrian President Heinz Fischer was paying a visit to Western Balkan States.

May 22, 2014

Austrian Prinzhorn Holding to Invest Massively in Hungary

Prinzhorn Holding will build its own power plant in Hungary to supply its paper factory in Dunaujvaros.

May 21, 2014