EQS-News

ABO Wind reports another record result and growing pipeline

EQS-News: ABO Wind AG / Key word(s): Annual Results/Annual Report ABO Wind reports another record result and growing pipeline 14.03.2024 / 11:09 CET/CEST The issuer is solely responsible for the content of this announcement. With a net profit of EUR 27.3 million, the ABO Wind Group has exceeded the previous year's record figure of EUR 24.6 million by eleven percent. The Managing Board expects further significant growth in the coming years. "In the medium term, we are aiming for annual results of EUR 50 million," says Managing Director Dr Karsten Schlageter.

ABO Wind increased its revenue by 29 per cent to 299.7 million euros in 2023. This is primarily due to the large volume of billed construction services worth 154.6 million euros (previous year: 96.2 million euros, an increase of 60 per cent). In the segments of development and sale of project rights, revenue rose by around six per cent to 127.3 million euros (previous year: 119.6 million euros. As a service provider, ABO Wind generated a revenue of 17.8 million euros in the financial year (previous year: 15.9 million euros, an increase of twelve per cent). Total turnover and operating revenue totalled 396.3 million euros (previous year: 308.1 million euros, an increase of 29%), including sales revenue and the change in inventories of goods and services. As in previous years, the 2023 annual report in German is available on the website (https://www.abo-wind.com/de/unternehmen/geschaeftsberichte.html). The English version of the annual report will be available shortly here: www.abo-wind.com/en/company/annual-reports.html.

In view of the good result, the Managing Directors and Supervisory Board will propose to the Annual General Meeting on 30 April an increase of the dividend to EUR 0.60 per share (previous year: EUR 0.54). The largest part of the parent company's annual profit, around 21.5 million euros, is to be transferred to the revenue reserve. Shortly after the Annual General Meeting, the Management expects the change of legal form and name to ABO Energy KGaA (partnership limited by shares) to be entered in the commercial register. Prior to this, an expert opinion must be prepared. "We are pleased that the legal disputes have been settled," emphasises Managing Director Schlageter. The Managing Board believes that with the new legal form, the company is ideally equipped to remain successful in the long term.