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

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

15.05.2024 / 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


---------------------------------------------------------------------------

15.05.2024 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
---------------------------------------------------------------------------

1903293 15.05.2024 CET/CEST