Verbund AG (MEX:VER)

MXN 1170.5 0 (0%) Market Cap: 566.95 Bil Enterprise Value: 552.48 Bil PE Ratio: 15.57 PB Ratio: 2.69 GF Score: 85/100

Q1 2021 Verbund AG Earnings Call Transcript

May 12, 2021 / 12:30PM GMT

Transcript

Operator

Dear, ladies and gentlemen, welcome to the conference call of VERBUND AG. At our customer's request, this conference will be recorded. (Operator Instructions)

May I now hand you over to Peter Kollmann, who will lead you through this conference. Please go ahead, sir.

Peter F. Kollmann

VERBUND AG - CFO & Member of the Executive Board

Thank you. Ladies and gentlemen, Andreas Wollein and I would like to welcome you to our presentation for the first quarter '21. And I would like to thank you for joining today's conference call.

Before we move into analysis of our business developments, I'd like to make a few general comments about the first quarter. The year '21 started well for VERBUND with relevant energy market conditions improving despite COVID-19. Electricity wholesale prices improved above all due to rising prices for CO2 certificates. And of course, the strong commitment from EU member states towards a comprehensive decarbonization of our energy system.

As I said, COVID-19 had no detrimental effect on our strategy and on the

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