ABO Wind Achieves Record Results and Expands Project Pipeline

ABO Wind AG has announced a significant increase in net profits and an expanding project pipeline in its latest annual results. The company reported a net profit of EUR 27.3 million for the year, an 11% increase from the previous year's EUR 24.6 million. Dr. Karsten Schlageter, Managing Director, has expressed optimism about the future, targeting annual results of EUR 50 million in the medium term.

The company's revenue soared by 29% to EUR 299.7 million in 2023, largely due to a significant increase in billed construction services. Revenue from the development and sale of project rights and service provisions also saw growth. With total turnover and operating revenue reaching EUR 396.3 million, ABO Wind is proposing a dividend increase at the upcoming Annual General Meeting. Additionally, the company anticipates a change in its legal form to ABO Energy KGaA to enhance long-term success.

ABO Wind's project development pipeline includes around 900 projects with a total capacity of 23 gigawatts, indicating robust prospects for the company. Amidst geopolitical shifts and a global push for renewable energy, ABO Wind has secured new sites and progressed significantly in key markets through winning bids and power purchase agreements (PPAs).

ABO Wind's success in securing PPAs, including with a renowned US internet company, underscores its strategic expansion in renewable energy markets beyond traditional tariffs. The company's focus on solar projects in new markets like Hungary and Colombia further solidifies its contribution to the global energy transition and economic success.