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21st Austria weekly - Verbund, Andritz, AT&S, Bawag (02/11/2023)

05.11.2023

Verbund: Austrian utility company Verbund reported earnings for the first three quarters 2023. EBITDA climbed by 83.6% year-on-year to €3,549.3m. The reported Group result rose by 85.9% to €1,980.6m and the Group result after adjustment for non-recurring effects was up 103.6% (non-recurring effects in Q1–3/2023: €–20.2m; Q1–3/2022: €+82.6m). The positive income trend compared with the previous year is attributable primarily to higher electricity production on the strength of a better water supply, the rise in average sales prices, higher earnings contributions from the acquisition and commissioning of the new renewable generation facilities and improved earnings contributions from regulated infrastructure (electricity and gas grids). At 0.93, the hydro coefficient for the run-of-river power plants was 7 percentage points below the long-term average but 9 percentage points above the comparative prior-year figure.
Verbund: weekly performance: 2.17%

Andritz: International technology group Andritz achieved strong increases in revenue, earnings, and net income in the third quarter of 2023 compared to the previous year’s reference period. The group has thus continued the positive development of the previous quarters. Total order intake declined from the previous year’s reference quarter, which included a large pulp mill order. However, order intake increased in the business areas Hydro, Metals, and Separation. The order intake for sustainable solutions and products was very satisfactory. After entering the green hydrogen market with its first engineering order in the second quarter of 2023, Andritz booked its first order for the supply of a complete green hydrogen plant in the third quarter. German steel producer Salzgitter Group selected Andritz to supply one of the largest green hydrogen plants in Europe as part of its sustainable transformation program. Andritz CEO Joachim Schönbeck stated: “Our products and solutions serving the green transition of the economy are increasingly contributing to our order intake. We are steadily expanding this product range, reaffirming our commitment to innovation and sustainability. The solid growth in our service revenues continued in the third quarter, helping us to further stabilize our business.”
Andritz: weekly performance: 13.40%

AT&S: AT&S recorded a decline in revenues by 24% to € 814 million in the first half of 2023/24 (PY: € 1,070 million). Adjusted for currency effects, consolidated revenue fell by 21%. This development was primarily driven by the fundamental changes in the economic environment. However, within the first half of the financial year, a significant increase was recorded in both segments: compared with the first quarter, revenue in the second quarter rose by 30% in the Electronics Solutions segment and by 18% in the Microelectronics segment. Profit for the period declined from € 224 million to € 49 million. “Although the economic environment has changed fundamentally compared to last year and we have been confronted with many challenges, we have been able to continue the recovery shown at the beginning of the financial year,” says AT&S CEO Andreas Gerstenmayer and explains, “We introduced efficiency and cost optimisation programmes in a timely manner. Not only are these measures taking effect faster than planned, they have also significantly improved the earnings situation.” Gerstenmayer sees positive trends for the future: “Even though we expect market volatility to continue for the time being, the major trends regarding digitalisation and electrification remain intact and offer AT&S clear growth opportunities.”
AT&S: weekly performance: 13.74%

Bawag: Banking group BAWAG  announces the receipt of all regulatory approvals for the acquisition of Peak Bancorp, the holding company for Idaho First Bank, a state-chartered community bank. Shareholders equity of Peak Bancorp stands at just under $50 million as of 30 September 2023. The purchase price is in line with the original agreement and set at $65 million. Anas Abuzaakouk, CEO, commented: “We are excited about the acquisition of Peak Bancorp and the many opportunities this presents for the Group. Despite the various challenges faced by the US banking sector this year, we have been pleased with the performance of Idaho First Bank, which reflects the financial strength and resilience of the franchise as well as the quality of leadership and the broader team. This acquisition provides BAWAG Group with a US banking platform to drive organic growth in Idaho and across the United States, adding yet another channel for growth."
Bawag: weekly performance: 9.55%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (02/11/2023)


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21st Austria weekly - Verbund, Andritz, AT&S, Bawag (02/11/2023)


05.11.2023, 4725 Zeichen



Verbund: Austrian utility company Verbund reported earnings for the first three quarters 2023. EBITDA climbed by 83.6% year-on-year to €3,549.3m. The reported Group result rose by 85.9% to €1,980.6m and the Group result after adjustment for non-recurring effects was up 103.6% (non-recurring effects in Q1–3/2023: €–20.2m; Q1–3/2022: €+82.6m). The positive income trend compared with the previous year is attributable primarily to higher electricity production on the strength of a better water supply, the rise in average sales prices, higher earnings contributions from the acquisition and commissioning of the new renewable generation facilities and improved earnings contributions from regulated infrastructure (electricity and gas grids). At 0.93, the hydro coefficient for the run-of-river power plants was 7 percentage points below the long-term average but 9 percentage points above the comparative prior-year figure.
Verbund: weekly performance: 2.17%

Andritz: International technology group Andritz achieved strong increases in revenue, earnings, and net income in the third quarter of 2023 compared to the previous year’s reference period. The group has thus continued the positive development of the previous quarters. Total order intake declined from the previous year’s reference quarter, which included a large pulp mill order. However, order intake increased in the business areas Hydro, Metals, and Separation. The order intake for sustainable solutions and products was very satisfactory. After entering the green hydrogen market with its first engineering order in the second quarter of 2023, Andritz booked its first order for the supply of a complete green hydrogen plant in the third quarter. German steel producer Salzgitter Group selected Andritz to supply one of the largest green hydrogen plants in Europe as part of its sustainable transformation program. Andritz CEO Joachim Schönbeck stated: “Our products and solutions serving the green transition of the economy are increasingly contributing to our order intake. We are steadily expanding this product range, reaffirming our commitment to innovation and sustainability. The solid growth in our service revenues continued in the third quarter, helping us to further stabilize our business.”
Andritz: weekly performance: 13.40%

AT&S: AT&S recorded a decline in revenues by 24% to € 814 million in the first half of 2023/24 (PY: € 1,070 million). Adjusted for currency effects, consolidated revenue fell by 21%. This development was primarily driven by the fundamental changes in the economic environment. However, within the first half of the financial year, a significant increase was recorded in both segments: compared with the first quarter, revenue in the second quarter rose by 30% in the Electronics Solutions segment and by 18% in the Microelectronics segment. Profit for the period declined from € 224 million to € 49 million. “Although the economic environment has changed fundamentally compared to last year and we have been confronted with many challenges, we have been able to continue the recovery shown at the beginning of the financial year,” says AT&S CEO Andreas Gerstenmayer and explains, “We introduced efficiency and cost optimisation programmes in a timely manner. Not only are these measures taking effect faster than planned, they have also significantly improved the earnings situation.” Gerstenmayer sees positive trends for the future: “Even though we expect market volatility to continue for the time being, the major trends regarding digitalisation and electrification remain intact and offer AT&S clear growth opportunities.”
AT&S: weekly performance: 13.74%

Bawag: Banking group BAWAG  announces the receipt of all regulatory approvals for the acquisition of Peak Bancorp, the holding company for Idaho First Bank, a state-chartered community bank. Shareholders equity of Peak Bancorp stands at just under $50 million as of 30 September 2023. The purchase price is in line with the original agreement and set at $65 million. Anas Abuzaakouk, CEO, commented: “We are excited about the acquisition of Peak Bancorp and the many opportunities this presents for the Group. Despite the various challenges faced by the US banking sector this year, we have been pleased with the performance of Idaho First Bank, which reflects the financial strength and resilience of the franchise as well as the quality of leadership and the broader team. This acquisition provides BAWAG Group with a US banking platform to drive organic growth in Idaho and across the United States, adding yet another channel for growth."
Bawag: weekly performance: 9.55%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (02/11/2023)



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