Press Release
Herausgeber: ABO Energy GmbH & Co. KGaA
ABO Wind sets new record with annual result
- Net profit of ABO Wind group rises to EUR 17 million
- Shareholders receive dividend of EUR 0.40 per share
Wiesbaden (renewablepress) - The ABO Wind group has generated a net profit of EUR 17 million in the financial year of 2017. The result surpasses the previous record year of 2016 with a net profit of EUR 16.5 million. Turnover has increased to EUR 147 million (2016: EUR 122 million). The company’s shareholders may participate in the success with a dividend of EUR 0.40 per share.
“In 2017, we have generated more than half of our net profit in international markets for the first time,” says Managing Director Dr Jochen Ahn. “Business in Germany has also been going well.” In addition to activities in the domestic market, successful business in Finland, France, Spain, Northern Ireland, and the Republic of Ireland have contributed to the extraordinary result. By driving forward international business development, ABO Wind manages to balance out the mostly policy-based fluctuations in Germany. ABO Wind has been maintaining its strong position in the German market. At the same time, the company utilises its competence as an experienced specialist for renewable energies in a growing number of countries, in order to establish a climate-friendly energy supply.
166 megawatts of renewably energy has been commissioned by ABO Wind in 2017. Additionally, ABO Wind has sold wind farms ready for building with a capacity of 85 megawatts in Spain and Northern Ireland. The Czech utility CEZ has purchased French wind farms currently in development with a capacity of roughly 100 megawats from ABO Wind in 2017. ABO Wind was tasked with completing the projects’ approval processes and to bring them online.
In 2018, 20 megawatts have been commissioned to date. Additional projects, among them 11 megawatts in the Republic of Ireland, are currently under construction. In the German tenders, ABO Wind has already secured a tariff for three projects in 2018.
At the moment, ABO Wind is developing renewable energy projects in 16 countries on five continents. The company has also added solar energy to its activities due to the sharp decline in cost for solar technology. By now ABO Wind is working on wind and solar projects in most countries. Exceptions are Finland and Ireland, where solar radiation is relatively low. Activities complementing the main business have been playing a larger role. ABO Wind is continuously expanding its wind farm management, for example. New services up to full maintenance complement the technical and commercial operational management, which are already well established in the market. ABO Wind also offers products such as an electronic access control for wind turbines. For an eco-friendly energy supply of remote regions without grid-connection, ABO Wind develops reliable systems combining solar, wind and storage technology, depending on the regional circumstances.
Thanks to the good annual results of recent years, the company’s equity has increased continually. On the effective date of December 31st, 2017, EUR 80 million are on the balance sheet. This is a good foundation for further growth of the company. The equity rate is a solid 46 per cent.
For the next few years, ABO Wind expects activities in new countries to bear fruit. A growing pipeline of wind and solar projects in development is the foundation for further successful years in the future. 500 employees are working on wind and solar farms with a capacity of more the 4,000 megawatts worldwide. The net profits gained in 2016 and 2017 with more than EUR 10 million each for the first time, should become the rule, the Managing Board expects. The record level of the two most recent results will probably not be reached every year, however.
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© ABO Wind AG
Wiesbaden, May 28th, 2018
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Media contact
Alexander Koffka
Telephone: +49 0611 267 65 – 515
E-Mail: presse@abo-wind.de
ABO Wind AG
Unter den Eichen 7
65195 Wiesbaden
Internet: https://www.abo-wind.com
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About ABO Energy GmbH & Co. KGaA
ABO Energy is a globally successful project developer for renewable energies. Since 1996, the company has developed approximately 300 wind, solar and battery projects with a capacity of around six gigawatts and has built about half of them itself. Currently, more than 1,200 dedicated employees in 16 countries on four continents are working on the development of new wind, solar and battery parks with a total output of over 23 gigawatts.
In another business area, ABO Energy is developing large hydrogen projects in sparsely populated regions with particularly good wind conditions. This second development pipeline comprises a wind and solar capacity of a further 20 gigawatts. The electricity produced will not be fed into the grid. Instead, the plan is to produce hydrogen using electrolysis. The hydrogen or its derivatives will then be exported. ABO Energy is working on large hydrogen parks with gigawatt dimensions in Canada, South Africa, Tunisia and Argentina. While the international hydrogen projects are not expected to be implemented until 2030, a hydrogen pilot project is already underway in Germany. The wind turbine, electrolyzer and hydrogen filling station in Hünfeld in eastern Hesse are due to be connected to the grid in 2025.
ABO Energy's experts cover all stages of value creation in the development and construction of renewable energy parks. They prepare expert reports, handle the approval process and financing and take care of construction and grid connection. ABO Energy handles all steps of project development, from site acquisition to construction. The company acquires projects at all stages of development and brings them to a successful conclusion. In addition, ABO Energy assumes long-term operational management and offers service products such as maintenance, gearbox endoscopies, inspections and repairs as well as technical reports (rotor blade, concrete and drive train reports).
The ABO Energy KGaA share (securities identification number: 576002) is listed on the Frankfurt Xetra and on m:access, the over-the-counter segment of the Munich Stock Exchange.