ABO Wind doubles net profit for the first half of 2017
Photo: Frank Löw
- Successes in Germany, France and Finland are reflected in the financial results
- Management reaffirms its high expectation for the annual result
- A small photovoltaics project is expected to be commissioned in Iran in 2017
(Wiesbaden, September 29th 2017) The ABO Wind group’s 2017 half-year report shows a net profit of EUR 8.8 million, nearly twice the net profit of the first half of 2016. The sale of a 100 megawatt portfolio of French wind energy projects at various stages of planning contributed to the extraordinarily good result. ABO Wind had announced the transaction with the Czech energy supplier ČEZ in early June. In addition to a one-off payment for the project rights, the deal includes further payments for the projects’ progression.
The half-year report published on the company's website supports the earnings forecast for the whole year of 2017, which was raised in July. "We still expect a result at least as high as last year," says Managing Director Dr Jochen Ahn. In the record-setting year of 2016, the company had achieved a net profit of EUR 16.5 million.
In the first half of 2017, ABO Wind has generated a turnover of EUR 73.9 million (first half of 2016: EUR 53.1 million), approximately 40 percent of which with construction and planning activities in Germany. Finland and France each accounted for around 25 percent of the business volume. The share of Northern Ireland and Spain was around five percent. The turnover’s distribution among five countries shows that the long-term strategy of increased internationalisation is successful.
"We will continue on this path," says Dr Ahn. ABO Wind has recently become active in Iran, for example, and expects to commission its first project there this year – a photovoltaic plant with an output of one megawatt. "This is a new market for us, where renewable energies are still quite exotic. We are gaining valuable experience with this relatively small project," says Dr Ahn. ABO Wind is also working on a number of larger wind farms in the planning stages, which could contribute significantly to the future electricity supply in Iran.
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