DGAP-Adhoc

MBB SE subsidiary FRIEDRICH VORWERK plans Initial Public Offering (IPO) to accelerate growth in the hydrogen market - Seite 2

FRIEDRICH VORWERK is a leading provider of energy transportation and transformation infrastructure for the gas, electricity and hydrogen markets. With almost 60 years of experience in pipeline and plant engineering, FRIEDRICH VORWERK's 1,300 highly qualified employees cover a wide range of critical services for the European clean energy transition. In 2020, FRIEDRICH VORWERK generated revenues of more than €291 million with EBITDA of €59 million and EBIT of over €47 million. Order backlog as at 31 December 2020 reached a record €307 million, out of which 7% or €21 million were already attributable to the Clean Hydrogen segment. Additionally, the company has a sales pipeline with large potential order volumes from the new underground electricity highways Suedlink, Suedostlink and Corridor A-Nord as well as a number of planned hydrogen electrolyzer plants and pipelines.

In order to seize the market opportunities in the context of the clean energy transition, FRIEDRICH VORWERK plans to considerably expand its business over the next years. The growing hydrogen market will require large-scale solutions for production, transportation and storage of hydrogen. FRIEDRICH VORWERK is therefore planning a dedicated hydrogen lab that will become the centre of its hydrogen focused research and development activities. The company also sees large potential in a further international expansion and plans to continue its significant investments into digitization and automation.

FRIEDRICH VORWERK therefore intents to raise approximately €90 million from newly issued shares in order to finance its organic expansion plans and to allow for M&A that could be an attractive accelerator to organic growth. With a long track-record and the last acquisition completed just less than two weeks ago, FRIEDRICH VORWERK has both the experience and the discipline to successfully complete acquisitions and to integrate newly acquired subsidiaries.

Contact Details

MBB SE
Joachimsthaler Straße 34
10719 Berlin
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www.MBB.com

Executive Management
Dr Christof Nesemeier (CEO)
Dr Constantin Mang
Klaus Seidel