Verbund AG (OTCPK:OEZVY)

$ 15.34 -0.39 (-2.48%) Market Cap: 26.65 Bil Enterprise Value: 27.00 Bil PE Ratio: 14.61 PB Ratio: 2.56 GF Score: 87/100

Half Year 2023 Verbund AG Earnings Call Transcript

Jul 27, 2023 / 09:00AM GMT

Release Date Price: $15.87

Transcript

Operator

Ladies and gentlemen, thank you for standing by. Welcome, and thank you for joining the VERBUND AG Half Year 2023 Results Conference Call. (Operator Instructions)

I would now like to turn the conference over to Peter Kollmann, CFO, VERBUND. Please go ahead, sir.

Peter F. Kollmann

VERBUND AG - CFO & Member of the Executive Board

Thank you. I'm here with Andreas Wollein. Ladies and gentlemen, let me welcome you to the presentation of our first half year 2023 results. And let me thank you for joining today's conference call.

Before we move into the analysis of our business development, let me make a few general comments. Despite easing on the energy markets already again at the end of '22, which continued in the first half of '23, wholesale prices for gas fell significantly in the first half year compared to the previous year. In addition to the heightening levels of the gas storage facilities resulted here to the weaker demand for gas. This was accompanied by a drop in wholesale price of electricity. However, the market environment is

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