Friedrich Vorwerk Reports Revenue of €373 Million in 2023 and Anticipates Continued Growth in 2024

Friedrich Vorwerk Group SE, a leader in energy infrastructure solutions, announced its financial results for the year 2023, achieving revenues of €373.4 million and an EBITDA of €32.0 million, translating to an 8.6% EBITDA margin. These figures align with the updated guidance issued in July. The company also reported a net liquidity increase to €42.1 million, proposing a dividend of €0.12 per share at the upcoming Annual General Meeting.

The company's fourth quarter showed revenues of €98.2 million with an EBITDA of €11.6 million. Despite a decline in revenue compared to the previous year, the EBITDA margin increased significantly to 11.8%. This growth is attributed to the positive order situation, with a record order intake of €1,059 million in 2023 and an order backlog reaching €1,001 million, highlighted by the A-Nord electricity project contract.

Looking ahead, Friedrich Vorwerk expects revenue to exceed €380 million in 2024, with a projected EBITDA margin between 11% and 13%. The company is poised to benefit from Europe's transition to climate neutrality by 2050, which involves a significant expansion of both electricity and hydrogen infrastructure, representing substantial market potential for Friedrich Vorwerk.