Our mission and vision has remained unchanged since the company was founded in 1996. Supporting the energy transition towards 100% renewable energies. We are convinced that a world without CO2 emissions is possible and climate change can be mitigated by achieving the Net Zero target. Our slogan reflects the core of the company: Renewable energy is our DNA.
A comprehensive overview of the company's mission and vision, core markets and core competences, as well as financial figures and outlook.
The mission and vision of our founders shapes our culture as a family-owned company with a long-term perspective. The families of the founders Dr. Jochen Ahn and Matthias Bockholt currently own more than 50 percent of the shares. Our business partners and employees appreciate the continuity and corporate culture that our ownership structure entails. We are convinced that this structure will make the greatest contribution to the energy transition and to all stakeholders. At the same time, we want to continue to grow as a company in order to be able to make an even greater contribution to the energy transition. In order to reconcile both concerns, an extraordinary general meeting on October 27, 2023 decided with a majority of over 87 percent that ABO Wind Aktiengesellschaft should become a partnership limited by shares (KGaA). Presumably, the change of legal form will only be entered in the commercial register in a few months and will therefore be valid. As general partners of the future KGaA shares, the founders retain a formative influence. This also applies in the event that further capital increases dilute the families' share to less than 50 percent.
ABO Wind remains open to new business areas and technologies. For 20 years, wind has been at the forefront and continues to be our biggest revenue driver. In addition, we have successfully built up our solar department in recent years, which today makes a significant contribution to our sales. The youngest departments for batteries and storage systems and hydrogen have also already achieved initial project successes. Furthermore, we are working towards the hybridization of our projects (e.g. wind and solar farms plus battery storage). We see great potential in this business area in the future. We are open to all technologies that help to save CO2.
Turnkey construction has been our sole focus for many years. With increasing internationalization and the larger number of projects, a second business model has been established. Today, we offer both business models on an equal footing and, depending on the project, decide which model suits best with our goals.
A key differentiator from our competitors is our "pure-play approach" as a project developer. The focus is currently not on building up a portfolio of own assets for operation in order to avoid a long-term binding of our equity. We want to use our valuable resources to realize as many projects as possible and focus on what we do best with project development. With around 175 million euros, we have built up our existing development pipeline of around 22 gigawatts. With the same resources, we could only operate around 150 megawatts in an own portfolio, depending on the technology. In line with our vision, we can therefore contribute significantly more to the energy transition through the pure-play approach.
ABO Wind is a full-service provider with a long-term commitment to our projects. Not only do we cover all aspects of project development with our in-house experts, but we also provide long-term support for many of our projects after they have been sold. Our operational management is essential for this and will be systematically expanded. Our repowering department takes care of renewing existing farms at the end of their life cycle so that proven sites continue to contribute to the energy transition.
The energy transition is a global issue and most countries have recognized that there is no alternative to renewable energies. ABO Wind has been internationally active since 2001 and has successively expanded into new markets with promising growth prospects. Today, we are active in 16 countries, often with all technologies and business models. This diversification is already paying off and more than 30 percent of our sales (in 2022 even more than 60 percent) regularly come from our foreign markets. Due to the strong international expansion in recent years, we are currently concentrating on the development of our existing markets. In all markets, we take a long-term approach and give the markets the time they need to develop. This strategy has paid off for ABO Wind in recent years.
ABO Wind invests heavily in the digitalization of our core processes and the interconnection of our systems. In doing so, we focus on projects that best support our project development. To this end, we have identified seven software applications that are being rolled out globally. At the same time, we attach great importance to maintaining the flexibility that our business requires. We see digital support as a tool to support our mission. Furthermore, we continue to invest heavily in our geographic information systems (GIS) and data-based software solutions, which give us an advantage in the assessment of locations.
Due to the significant growth potential of renewables, we aim to double our total output and net profit in the next few years. From 2027 onwards, our total output is expected to increase sustainably to approximately 600 million euros per year and the net profit is expected to be approximately 50 million euros. Our targets for developed megawatts (from 350 MW to 700 MW) and installed megawatts (from 250 MW to 500 MW) per year are also expected to roughly double by 2027. At the same time, we want to further strengthen our equity reserves and generate exceptional returns for our investors through our growth potential.
