EQS-News

FRIEDRICH VORWERK generates revenues of €373 million in 2023 with an EBITDA margin of 8.6% and expects further sales and earnings growth in 2024 with an order backlog of €1 billion - Seite 2

Based on the excellent order situation, the Management Board expects the company to continue on its growth trajectory in the 2024 financial year and anticipates revenue of more than €380 million. Due to the noticeable decline in inflationary effects on existing projects and the high-quality order backlog, the Management Board expects the recent recovery in profitability to continue in 2024. Against this backdrop, an EBITDA margin of 11% to 13% is expected.

In order to achieve complete climate neutrality by 2050, the European energy infrastructure is facing a fundamental transformation. In addition to a significant expansion of the electricity grid, for which an investment volume of almost €320 billion is planned in Germany alone by 2045, the expansion of the hydrogen infrastructure is also rapidly gaining momentum. For example, a hydrogen core network over 9,700 km long is to be created in Germany by 2032, for which the transmission system operators (TSOs) anticipate additional investments of €19.8 billion. Around €13.1 billion of this will be spent on new hydrogen pipelines. Following the recent EU state aid approval of the IPCEI projects "Hy2Infra", numerous large-scale projects are currently being implemented, which are associated with considerable market potential for FRIEDRICH VORWERK. Against this backdrop, the company continues to anticipate strong growth in demand across all of its target markets.

The full 2023 annual report is available at www.friedrich-vorwerk-group.de.

 

Contact Details

Friedrich Vorwerk Group SE
Harburger Straße 19
21255 Tostedt
Tel +49 4182 – 2947 0
Fax +49 4182 - 6155
[e-mail]
www.friedrich-vorwerk-group.de

Management Board
Torben Kleinfeldt (CEO)
Tim Hameister

Chairman of the Supervisory Board
Dr Christof Nesemeier

Court of Registration
District Court of Tostedt, registration number: HRB 208170

 

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26.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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