EQS-News: Successful projects shape ABO Wind's business development

Sucessful projects shape business development

ABO Wind is well on its way to achieving last year’s record net profit level again this year and the next. “Especially the rise in interest rates is a challenge for us too,” says Managing Director Alexander Reinicke. "However, the successful development of many individual wind, solar and battery projects makes it possible to confirm the good forecast for 2023 and to be confident for next year as well.”

In 2022, ABO Wind earned 24.6 million euros after taxes and thus a net profit of more than 20 million euros for the first time. The Managing Board is convinced that the jump in net profit in the previous year was sustainable and that further increases will be possible in the medium term. For the current year, the Managing Board expects a net profit of the ABO Wind group of between 22 and 26 million euros, as already stated in the 2022 Annual Report. As there are always a lot of relevant events in project development happening in the final weeks of the year, the forecast range remains unchanged. The Managing Board also expects business to develop well in 2024 and, according to current planning, expects a net profit of between 25 and 31 million euros. Annual net profits are expected to increase in the following years.

The basis for the company’s continued success is the number of projects in development. This Pipeline has steadily increased in volume and quality over the past few years. More and more projects are gradually reaching ready-to-build status. “Depending on the market environment and our own resources, we can then either realise them ourselves on a turnkey basis or sell them prematurely at good conditions,” explains Reinicke.

For the “Gross performance” item, which includes sales revenue and changes in inventories, the Managing Board expects annual increases of 10 to 30 per cent in both 2023 and 2024.