ABO Energy Lowers 2024 Profit Forecast, Confirms 2025 Expectations

ABO Energy KGaA has revised its 2024 profit forecast to EUR 20-25 million, down from the previous range of EUR 25-31 million. This adjustment anticipates lower-than-expected profits due to delays in constructing and selling wind and solar parks across Hungary, Germany, Spain, and Colombia. Longer delivery times from suppliers have contributed to these setbacks, though expedited approval procedures in Germany have helped somewhat.

Unrealized revenues from the Spanish solar and Finnish wind markets further impacted the 2024 projections. Additionally, a likely write-down on ABO Kraft & Wärme AG shares will negatively affect the year's results. Nevertheless, ABO Energy maintains a positive outlook for 2025, expecting profits between EUR 29-39 million, aligning with analysts' projections of EUR 30-32 million, driven by favorable developments in Germany and France.