FRIEDRICH VORWERK increases revenue by 23.8% to EUR 258.7 million in the first nine months with an EBIT margin of 12%

EQS-News: Friedrich Vorwerk Group SE / Keyword(s): 9-month figures/Quarterly / Interim statement
FRIEDRICH VORWERK increases revenue by 23.8% to EUR 258.7 million in the first nine months with an EBIT margin of 12%
11.11.2022 / 07:59 CET/EST
The issuer is solely responsible for the content of this announcement.

FRIEDRICH VORWERK increases revenue by 23.8% to EUR 258.7 million in the first nine months with an EBIT margin of 12%

Tostedt, November 11, 2022 – Friedrich Vorwerk Group SE (ISIN DE000A255F11), a leading provider of energy infrastructure solutions for gas, electricity and hydrogen applications, increased its revenue by 23.8% to 258.7 million euros during the first nine months of the financial year. An important driver of the significant revenue growth is in particular the third quarter, in which FRIEDRICH VORWERK was able to exceed the previous year’s value of 76.3 million euros by 52% with a turnover of 115 .9 million euros, achieving the highest quarterly turnover in the company’s history. The adjusted EBIT for the first nine months of the financial year amounted to 31.1 million euros, which corresponds to an EBIT margin of 12% and a slight decrease of 2.5 million euros compared to at the same period of the previous year. With an EBIT margin of 14.3% in the third quarter, the recovery in the level of profitability that began in the second quarter continued.

Orders received during the period under review amounted to 317.8 million euros, which corresponds to an increase of 72.5% compared to the previous year. The significant increase in order intake is mainly due to a number of large contracts won earlier this year. In addition to the order for the construction of a district heating pipeline in Hamburg with a volume of more than 70 million euros and the major order for cable laying and cable logistics for the new SuedLink pipeline, two further orders contracts were won for the construction of connection pipelines for the LNG terminals in Wilhelmshaven and Brunsbüttel. A particularly positive development in the third quarter was the commissioning of the second and now exclusive project phase for the construction of the new HVDC A-Nord cable line by the transmission system operator Amprion. If the agreement is successful and the next phase of the project is subsequently commissioned by Amprion, the total order volume for the eight parties is expected to be between 850 and 1,100 million euros, in which FRIEDRICH VORWERK would have a share of at least 30%.

Against the backdrop of positive business developments, the Management Board continues to expect consolidated revenue of over EUR 320 million with an adjusted EBIT margin of 13-15% for the 2022 financial year.

The complete quarterly statement is available at www.friedrich-vorwerk.de.

Contact

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

board of directors
Torben Kleinfeldt (CEO)
Tim Hameister

Chairman of the Supervisory Board
Dr. Christof Nesemeier

Registry Court
District Court of Tostedt, registration number: HRB 208170

11.11.2022 CET/CEST Broadcast of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

EQS distribution services include regulatory announcements, financial/corporate news and press releases.
Archives on www.eqs-news.com