Wednesday, February 1 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Jan 30
Week of Jan 23
Week of Jan 16
Week of Jan 09
Week of Jan 02
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    ABO Wind raises profit outlook for 2022, 2023

    December 1, 2022 - SeeNews Renewables


      December 1 (Renewables Now) - German renewables developer ABO Wind AG (ETR:AB9) has increased its profit projections for 2022 and 2023 thanks to the better-than-expected performance this year and the planned sale of projects.

      The consolidated net profit in 2022 is now seen at nearly EUR 17 million (USD 17.63m), the company said on Thursday. Previously, ABO Wind expected its bottom line this year to reach at least the level of 2021 when it stood at EUR 13.8 million but the company has performed more strongly than anticipated so far this year.

      In addition, the EUR-20-million threshold in terms of net profit will be reached earlier than 2024 which was the previous target. In 2023, ABO Wind sees its net result in the range of EUR 22 million to EUR 26 million. The growth will be driven by the planned sale of already approved wind and solar projects in international markets in the pipeline for the next financial year as the strong demand for shovel-ready renewables projects is raising sale prices.

      The company noted that it is in talks with several potential buyers of the projects and expects to conclude the discussions successfully. However, if the sale falls through, the profit forecast for 2023 will be reduced, ABO Wind explained.

      In the first half of 2022, ABO Wind's net profit grew to EUR 9.6 million from EUR 6.5 million a year earlier, while revenues totalled EUR 97.96 million, up from EUR 61.73 million.

      (EUR 1 = USD 1.038)


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.