EVN AG: Ad-hoc-announcement: EVN raises its outlook for the Group net result 2016/17

The Executive Board of EVN AG raises its outlook for the Group net result of the business year ending on 30 September 2017. Based on available preliminary results and subject to the as-yet to be completed audit of the consolidated financial statements by the auditors, Group net result of approximately EUR 250 million is expected. Thus far, the expectation was that the Group would achieve an increase over the prior year's results (EUR 156.4 million) by an amount approximating the EUR 38 million one-off effect from the previously announced settlement with the state-owned Bulgarian energy company NEK.

The higher Group net result currently expected is the result of a number of positive effects. As of the balance sheet date, valuations of hedging transactions, provisions and liabilities had a positive effect on the Group net result, while unusual seasonal weather conditions resulted in higher network distribution and energy sales volumes, particularly also in the summer months, which led to operative improvements in the energy business that were further enhanced through operative cost savings.

Based on these preliminarily expected consolidated results, management will recommend to the annual general shareholder meeting on 18 January 2018 a dividend of EUR 0.44, as well as a one-time bonus dividend of EUR 0.03, per share for the 2016/17 business year.

The annual report for the 2016/17 business year will be published on 14 December 2017.