ABO Wind raises 2022 net profit 78%.

Mar 15, 2023 05:14 PM ET
  • German renewables programmer ABO Wind AG (ETR: AB9) booked a net profit of EUR 24.6 million (USD 26.41 m) for 2022, which is close to the upper end of its forecast that was boosted previously this year.
ABO Wind raises 2022 net profit 78%.
Image: ABO Wind

ABO Wind's net result grew from EUR 13.8 million in 2021, passing the EUR-20-million limit for the first time. In January, the outlook for 2022 was raised to between EUR 20 million- 25 million, up from practically EUR 17 million projected in December.

The higher net profit is a result of several project successes in Germany and abroad at the end of the year, along with appraisal changes.

ABO Wind expects to be able to keep a net result of over EUR 20 million in the coming years as well as further raising it in the tool term as a raising variety of renewable resource projects that are in the planning stage will certainly be ready for construction.

Revenue nearly increased to EUR 231 million in 2022 from EUR 127 million with Germany bookkeeping for about 35% of the total. France and also Finland were also key markets for the firm with a share of 27% as well as 13%, specifically, of the profits.

Complete output from revenues as well as changes in supplies jumped to EUR 308 million from EUR 187 million in the previous year.

The business's growth portfolio grew last year to around 21 GW of wind, solar as well as battery projects for grid link in 16 countries, with a focus on Europe.

In the most up to date onshore wind tender in Germany, ABO Wind was successful with seven projects with an incorporated capacity of 78 MW. The permits for the majority of these projects were given in 2022 and the commissioning of the parks is prepared for 2024 and 2025.

The company is additionally working on its first larger turnkey projects beyond Europe-- 2 solar farms in Colombia, each with a capacity of 10 MW, which are prepared to browse the web in 2024.

Aside from these projects, ABO Wind is creating renewable energy projects for the manufacturing of green hydrogen with a complete capacity of 15 GW in Canada, Argentina, Tunisia and Germany.

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