HomeRenewablesHydroelectricAustria's Verbund posts disappointing results

Austria’s Verbund posts disappointing results

Austrian hydropower producer Verbund has posted full-year earnings below analysts’ estimates due to low power prices and reduced water supply at its hydropower plants.

The reVerbund logosults announced Wednesday show the company’ 2015 operating result rose 6.8 percent to 410.6 million euros ($450.96 million), it said. Analysts polled by Reuters had on average forecast earnings before interest and tax (EBIT) of 443 million euros.

The company, in which the Austrian state holds a 51 percent stake, reaffirmed it was reviewing additional options to strengthen its financial position, which include significant measures in the areas of growth, the future dividend policy and cost reductions.