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    VH2   DE000A255F11

FRIEDRICH VORWERK GROUP SE

(VH2)
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FRIEDRICH VORWERK : receives order worth ?50 million for realization of Legden compressor station

09/27/2021 | 10:49am EDT

DGAP-News: Friedrich Vorwerk Group SE / Key word(s): Incoming Orders
FRIEDRICH VORWERK receives order worth ?50 million for realization of Legden compressor station

27.09.2021 / 14:18
The issuer is solely responsible for the content of this announcement.


FRIEDRICH VORWERK receives order worth ?50 million for realization of Legden compressor station

Tostedt, 27 September 2021 - FRIEDRICH VORWERK Group SE (ISIN DE000A255F11), a leading supplier of energy infrastructure, announces the acquisition of a major order worth over ?50 million for the realization of the Legden compressor station.

The planned compressor station is part of the ZEELINK project, one of Germany's most important energy infrastructure projects in recent years, which plays a central role in the required transition from low-calorific to high-calorific gas. The large-scale plant in Legden represents the final component of the largest infrastructure project in Germany's Network Development Plan (Gas) as published by the Federal Network Agency in 2015 and 2016. Having already participated in the laying of the 216 km long natural gas pipeline ZEELINK and the construction of a major compressor station in Würselen, FRIEDRICH VORWERK was hence involved in all major components of the ZEELINK project. The main features of the large-scale plant in Legden during the first expansion stage include two turbo compressor units in combination with a gas turbine station with a mechanical output of approx. 13 MW each. For a possible additional stage, the station can be extended by a compressor unit and corresponding connecting lines.

In the competitive tendering process, FRIEDRICH VORWERK, as a fully integrated supplier of turnkey solutions, was able to cover a wide range of services for the overall contract, hence convincing the client, Open Grid Europe, to award the contract. The works on the large-scale plant will start as early as the last quarter of 2021.


Contact

Friedrich Vorwerk Group SE
Niedersachsenstraße 19-21
21255 Tostedt
Phone +49 4182 - 2947 0
Fax +49 4182 - 6155
ir@friedrich-vorwerk.de
www.friedrich-vorwerk.de/en/

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



27.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


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: 1236201

 
End of News DGAP News Service

1236201  27.09.2021 

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© EQS 2021
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Financials
Sales 2021 295 M 344 M 344 M
Net income 2021 28,9 M 33,6 M 33,6 M
Net cash 2021 83,4 M 97,1 M 97,1 M
P/E ratio 2021 27,3x
Yield 2021 0,76%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 40,00 €
Average target price 53,30 €
Spread / Average Target 33,3%
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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
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