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    VH2   DE000A255F11

FRIEDRICH VORWERK GROUP SE

(VH2)
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DGAP-Adhoc : FRIEDRICH VORWERK increases adjusted EBIT by 49% to EUR21.3 million in the first half of the year with stable sales and gives forecast for 2021

08/20/2021 | 01:30am EDT

DGAP-Ad-hoc: Friedrich Vorwerk Group SE / Key word(s): Half Year Report/Forecast FRIEDRICH VORWERK increases adjusted EBIT by 49% to EUR21.3 million in the first half of the year with stable sales and gives forecast for 2021 20-Aug-2021 / 07:29 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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Disclosure of inside information acc. to Article 17 MAR

FRIEDRICH VORWERK increases adjusted EBIT by 49% to EUR21.3 million in the first half of the year with stable sales and gives forecast for 2021

Tostedt, 20 August 2021 - Friedrich Vorwerk Group SE (ISIN DE000A255F11), a leading provider of energy infrastructure solutions for gas, electricity and hydrogen applications, increased its adjusted EBITDA by 40.2% year-on-year to EUR27.5 million and adjusted EBIT by 48.7% to EUR21.3 million in the first half of 2021. At EUR132.7 million, sales in the first half of the year were just below the previous year's figure of EUR137.4 million. While sales in the first few months of the year fell short of expectations due to unfavorable weather conditions, they were able to catch up in the second quarter and even increased by 52.5% compared to the first quarter.

At EUR104.1 million, order intake in the first half of the year was 19.4% down on the previous year, mainly due to the postponement of project awards. However, some of the postponed orders have already been acquired in the current third quarter. These include a new lighthouse project with a volume well into the double-digit million euro range. At EUR277.9 million, the order backlog at June 30, 2021 was slightly above the high level of the previous year.

In the second half of the year, management expects to be able to further increase sales compared to the first half. For the full year 2021, sales of EUR270 to EUR300 million are forecasted. This already takes into account a customer-related project delay in Denmark, which will have no impact on profitability. Adjusted EBIT margin in the second half of the year is expected to be 16%, roughly the same level as in the first half.

The complete half-year financial report is available at www.friedrich-vorwerk.de/en.

Contact Details

Friedrich Vorwerk Group SE Niedersachsenstraße 19-21 21255 Tostedt Tel +49 4182 - 2947 0 Fax +49 4182 - 6155 tostedt@friedrich-vorwerk.de www.friedrich-vorwerk.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

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20-Aug-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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Language:     English 
Company:      Friedrich Vorwerk Group SE 
              Niedersachsenstraße 19-21 
              21255 Tostedt 
              Germany 
E-mail:       hameister@friedrich-vorwerk.de 
Internet:     www.friedrich-vorwerk.de 
ISIN:         DE000A255F11 
WKN:          A255F1 
Listed:       Regulated Market in Frankfurt (Prime Standard) 
EQS News ID:  1227846 
 
End of Announcement  DGAP News Service 
=------------ 

1227846 20-Aug-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1227846&application_name=news

(END) Dow Jones Newswires

August 20, 2021 01:29 ET (05:29 GMT)

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Financials
Sales 2021 295 M 343 M 343 M
Net income 2021 28,9 M 33,5 M 33,5 M
Net cash 2021 83,4 M 96,7 M 96,7 M
P/E ratio 2021 27,9x
Yield 2021 0,74%
Capitalization 819 M 950 M 950 M
EV / Sales 2021 2,49x
EV / Sales 2022 2,19x
Nbr of Employees 1 395
Free-Float 46,0%
Chart FRIEDRICH VORWERK GROUP SE
Duration : Period :
Friedrich Vorwerk Group SE Technical Analysis Chart | VH2 | DE000A255F11 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 40,94 €
Average target price 53,30 €
Spread / Average Target 30,2%
EPS Revisions
Managers and Directors
Torben Kleinfeldt Chief Executive Officer
Tim Hameister Chief Financial Officer
Christof Nesemeier Chairman-Supervisory Board
Julian Deutz Vice Chairman-Supervisory Board
Helike von der Heyden Member-Supervisory Board
Sector and Competitors