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FRIEDRICH VORWERK will increase order consumption by 142% within the first half of the yr, achieves revenues of €143 million with an adjusted EBIT margin of 10% and adjusts profitability forecast

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DGAP-Information: Friedrich Vorwerk Group SE

/ Key phrase(s): Half 12 months Report/Half 12 months Outcomes

FRIEDRICH VORWERK will increase order consumption by 142% within the first half of the yr, achieves revenues of €143 million with an adjusted EBIT margin of 10% and adjusts profitability forecast

12.08.2022 / 07:45
The issuer is solely liable for the content material of this announcement.

FRIEDRICH VORWERK will increase order consumption by 142% within the first half of the yr, achieves revenues of
€143 million with an adjusted EBIT margin of 10% and adjusts profitability forecast

Tostedt, 12 August 2022 – Friedrich Vorwerk Group SE (ISIN DE000A255F11), a number one supplier of vitality infrastructure options for fuel, electrical energy and hydrogen functions, achieved a report order consumption of €252.0 million within the first six months of 2022, representing a year-on-year improve of 142.1%. Revenues elevated by 7.6% to €142.8 million in the identical interval. The adjusted EBIT margin was 10.2% and therefore beneath the earlier yr, which is because of the ongoing integration of the Puhlmann Group acquired on the finish of the earlier yr, in addition to ramp-up prices for newly launched tasks and elevated prices for supplies and personnel.

At €422 million, the order backlog as at 30 June 2022 marked a brand new all-time excessive within the firm’s historical past. Along with the large-scale district heating venture in Hamburg, the primary driver of the considerably elevated order consumption was the strategic order for cable laying and logistics for the Suedlink electrical energy freeway. Moreover, FRIEDRICH VORWERK is about to play a significant function within the enlargement of the LNG infrastructure in an effort to cut back Germany’s dependence on Russian pipeline fuel. With the 2 connecting pipelines for the brand new LNG terminals in Wilhelmshaven and Brunsbüttel, FRIEDRICH VORWERK has already gained two main contracts that may already contribute to revenues this yr.

The adjusted EBIT of €14.6 million was considerably beneath the earlier yr’s worth of €21.3 million, which corresponds to a decline within the EBIT margin within the first half of the yr to 10.2%. The decrease profitability degree outcomes on the one hand from start-up prices for main tasks launched at first of the yr and from the continuing integration of the Puhlmann Group. However, elevated materials, vitality and personnel prices additionally put strain on the margin, particularly within the second quarter. Because it can’t be dominated out that the aforementioned results partially additionally take an affect on the second half of the yr, the administration continues to anticipate a turnover of greater than €320 million for the 2022 monetary yr, however is widening the EBIT margin steering vary to 13-15 %, in comparison with the earlier expectation of 15%.

The complete half-year report will be discovered at www.friedrich-vorwerk.de.

Contact Particulars

Friedrich Vorwerk Group SE
Niedersachsenstraße 19-21
21255 Tostedt
Tel +49 4182 – 2947 0
Fax +49 4182 – 6155
ir@friedrich-vorwerk.de
www.friedrich-vorwerk.de

Administration Board
Torben Kleinfeldt (CEO)
Tim Hameister

Chairman of the Supervisory Board
Dr Christof Nesemeier

Courtroom of Registration
District Courtroom of Tostedt, registration quantity: HRB 208170

12.08.2022 Dissemination of a Company Information, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely liable for the content material of this announcement.

The DGAP Distribution Companies embrace Regulatory Bulletins, Monetary/Company Information and Press Releases.
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