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EQS-News: Friedrich Vorwerk Group SE / Key word(s): Quarterly / Interim Statement
FRIEDRICH VORWERK increases EBITDA by 21% to EUR 6.8 million in the first quarter, raising the EBITDA margin to 9% on
revenues of EUR 76.7 million
2024-05-15 / 07:57 CET/CEST
The issuer is solely responsible for the content of this announcement.
FRIEDRICH VORWERK increases EBITDA by 21% to EUR 6.8 million in the first quarter, raising the EBITDA margin to 9% on
revenues of EUR 76.7 million
Tostedt, May 15, 2024 - FRIEDRICH VORWERK Group SE (ISIN DE000A255F11), a leading provider of energy infrastructure
solutions for gas, electricity and hydrogen applications, increased its revenue by 5% to EUR 76.7 million in the first
three months of the financial year. EBITDA increased by 21% to EUR 6.8 million in the same period, which corresponds to a
margin of 8.8%.
The main driver of the increase in profitability is the gradual completion of legacy projects and framework agreements
that were burdened by high price increases. The aforementioned projects are being replaced by new projects, which were
taken in at significantly better conditions and are making a correspondingly high positive contribution to earnings. In
addition, the share of subcontractor services was also reduced in the first quarter and a greater proportion of the
value added was generated by the company's own resources. While leading to a moderate increase in revenue, this
increases profitability due to efficiency gains.
With an order intake of EUR121.3 million, the company's order situation also developed very positively in the first
quarter. The Electricity segment in particular once again made a significant contribution to this development with the
acquisition of several medium-sized orders for the realization of transformer stations. At EUR1,045 million, the order
backlog remains at a record level and forms an excellent basis for continued growth in the coming years.
In light of these positive developments, the Management Board expects the improvement in profitability to continue and
still forecasts revenue of at least EUR380 million with an EBITDA margin of 11 to 13% for the 2024 financial year.
The full quarterly statement is available at www.friedrich-vorwerk-group.de
Contact Details
Friedrich Vorwerk Group SE
Harburger Straße 19
21255 Tostedt
Tel +49 4182 - 2947 0
Fax +49 4182 - 6155
ir@friedrich-vorwerk.de
www.friedrich-vorwerk-group.de
Management Board
Torben Kleinfeldt (CEO)
Tim Hameister
Chairman of the Supervisory Board
Dr Christof Nesemeier
Court of Registration
District Court of Tostedt, registration number: HRB 208170

2024-05-15 CET/CEST Dissemination 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.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      Friedrich Vorwerk Group SE 

Harburger Straße 19
21255 Tostedt
Germany

E-mail:       ir@friedrich-vorwerk.de 
Internet:     www.friedrich-vorwerk-group.de 
ISIN:         DE000A255F11 
WKN:          A255F1 
Listed:       Regulated Market in Frankfurt (Prime Standard) 
EQS News ID:  1903293 

End of News EQS News Service
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1903293 2024-05-15 CET/CEST

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END) Dow Jones Newswires

May 15, 2024 01:57 ET (05:57 GMT)