ABO Energy GmbH & Co. KGaA (AB9.DE), a German renewable energy project developer, on Tuesday reported first-half results with a declined profit mainly hurt by expenses, despite improved revenue.
Looking ahead, for fiscal 2025, the company confirmed its after-tax profit forecast in the range of 29 million euros to 39 million euros, higher than 25.6 million euros reported last year. The outlook reflects the momentum in the German wind market.
In the first half, consolidated net profit decreased to 9.56 million euros from 11.35 million euros a year ago.
Total turnover and operating revenue, however, rose to 190.87 million euros from 186.55 million euros in the prior year.
Sales revenue improved to 205.81 million euros from 122.51 million euros in the year ahead. The increase was mainly due to higher revenues from construction services, amounting to around 124 million euros, compared to 39 million euros reported a year ago.
On Tuesday, the shares were trading 1.37% lower at 36 euros on the XTERA in Germany.
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