ABO Energy Achieves Second-Best Annual Result with 25.6 Million Euros Surplus
Wiesbaden, Germany - ABO Energy successfully completed the 2024 financial year, achieving the second-best result in the company's history. Thanks to its national and international activities in wind and solar project development and battery storage, the annual result for 2024 rose significantly.
Strong growth and rising revenues in 2024 – dividend to be increased
Compared to the previous year, ABO Energy significantly increased its revenues from 300 million euros (2023) to 446 million euros. The share of Germany in the business rose markedly from 40 percent to 62 percent, according to ABO Energy. A particularly strong increase was seen in construction services, which climbed from 155 million euros to 264 million euros. Service revenues increased to 20 million euros in 2024 (2023: 18 million euros).
"The previous government has resolved the bottleneck in approvals in our most important market, Germany, and boosted the wind energy market," said Managing Director Dr. Karsten Schlageter. Nationwide, facilities with a capacity of 14 gigawatts were approved in 2024 – more than ever before. Compared to 2023, the volume of approvals has doubled and tripled since 2022. Due to this favorable development, ABO Energy now has a substantial portfolio of valuable, ready-to-build wind power projects.
ABO Energy expects continued growth in the coming years. This assessment is supported by the project pipeline, which has been steadily expanding for years. Currently, the project portfolio under development comprises approximately 32 GW (32,000 MW), with 18.5 GW allocated to wind energy, 9.4 GW to solar energy, and 4 GW to battery storage projects.
The Annual General Meeting on May 27, 2025, is expected to approve an increase in the dividend to 0.65 euros per share, up from 0.60 euros in the previous year. The parent company's net profit of 25.9 million euros (2023: 27 million euros) will largely be allocated to retained earnings to support further growth.
International successes and market gains
ABO Energy achieved international successes in 2024, particularly in Hungary and Colombia. In Hungary, the company connected five solar parks with a total capacity of 79 MW to the grid and sold project rights for 250 MW in the early development stage. Another milestone was the turnkey construction of the first two Colombian solar parks, each with a capacity of 10 MW.
France, ABO Energy's second most important market after Germany, also reported positive developments. Three wind farms with a total capacity of 25 MW were connected to the grid in 2024.
Forecast for 2025: significant profit increases expected
For 2025, ABO Energy's management expects strong results, with net profits projected to range between 29 million euros and 39 million euros. Long-term forecasts anticipate annual profits of approximately 50 euros million starting in 2027, supported by the numerous approved and secured projects.
„In several segments that are currently experiencing a strong upturn, ABO Energy has built up expertise at an early stage and secured market shares,“ summarises Dr Schlageter. This applies, for example, to wind energy in Germany, the global battery storage market, and grid connections. „We will continue to benefit from our good work in the coming years," Schlageter stated.
Source: IWR Online, 02 Apr 2025
