New Risk • Mar 21
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.5% net profit margin). Market cap is less than US$100m (€55.7m market cap, or US$64.4m). Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to €6.06, the stock trades at a trailing P/E ratio of 2.3x. Average forward P/E is 14x in the Renewable Energy industry in Europe. Total loss to shareholders of 92% over the past three years. New Risk • Jan 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €64.5m (US$74.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.5% net profit margin). Market cap is less than US$100m (€64.5m market cap, or US$74.9m). Announcement • Nov 29
Fortum Oyj (HLSE:FORTUM) completed the acquisition of unknown majority stake in ABO Energy Suomi Oy from ABO Energy GmbH & Co. KGaA (XTRA:AB9) for approximately €65 million. Fortum Oyj (HLSE:FORTUM) agreed to acquire an unknown majority stake in ABO Energy Suomi Oy from ABO Energy GmbH & Co. KGaA (XTRA:AB9) for approximately €70 million on July 23, 2025. A cash consideration of €42.2 million will be paid by Fortum Oyj. As part of consideration, €42.2 million is paid towards common equity of ABO Energy Suomi Oy. The purchase price is paid on debt-and-cash-free basis. In addition to the purchase price, the transaction includes earn-out payments in the coming years which are subject to projects successfully reaching a final investment decision in the future.
The Transaction is subject to customary closing conditions including obtaining the necessary regulatory approvals in the relevant jurisdictions. Closing is expected in the fourth quarter of 2025.
Fortum Oyj (HLSE:FORTUM) completed the acquisition of unknown majority stake in ABO Energy Suomi Oy from ABO Energy GmbH & Co. KGaA (XTRA:AB9) for approximately €65 million on November 28, 2025. Announcement • Nov 24
ABO Energy GmbH & Co. KGaA Updates Earnings Guidance for the Fiscal Year 2025 ABO Energy GmbH & Co. KGaA updated earnings guidance for the fiscal year 2025. Unlike previous years, international markets will not contribute to stabilizing ABO Energy’s results in 2025. Negative impacts include an oversupply of solar in Spain, an oversupply of wind in Finland, changes to grid access regulations in Greece, and legislative changes affecting infrastructure sales in Hungary. Since its founding nearly 30 years ago, ABO Energy has consistently reported positive earnings. In 2025, this will not be possible due to the reassessment. The management had already begun adapting the business model to the changing market situation at the end of 2024. However, market developments have progressed faster than anticipated. The projected annual result for 2025 has shifted from a surplus of €29–39 million to a net loss of approximately €-95 million. This adjustment is primarily driven by valuation effects and has only a minor impact on liquidity. ABO Energy maintains one of the largest project pipelines in the industry, totaling around 30 gigawatts, including ten gigawatts in Germany. This valuable pipeline forms the foundation for a swift return to profitability. Valuation Update With 7 Day Price Move • Nov 19
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €27.50, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 13x in the Renewable Energy industry in Europe. Total loss to shareholders of 48% over the past three years. Reported Earnings • Sep 05
First half 2025 earnings released First half 2025 results: Revenue: €213.2m (up 74% from 1H 2024). Net income: €9.56m (down 16% from 1H 2024). Profit margin: 4.5% (down from 9.3% in 1H 2024). Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Germany are expected to remain flat. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €44.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Renewable Energy industry in Europe. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €78.38 per share. Announcement • Jul 10
Quadoro Erneuerbare Energien Europa (QEEE) fund, managed by EB - Sustainable Investment Management GmbH and Quadoro Doric Real Estate GmbH, acquired 25.9 MWp Two Solar Parks in Germany from ABO Energy GmbH & Co. KGaA (XTRA:AB9). Quadoro Erneuerbare Energien Europa (QEEE) fund, managed by EB - Sustainable Investment Management GmbH and Quadoro Doric Real Estate GmbH, acquired 25.9 MWp Two Solar Parks in Germany from ABO Energy GmbH & Co. KGaA (XTRA:AB9) on July 9, 2025. One of the assets is located in Treuenbrietzen, Brandenburg, and has a capacity of 8.3 MWp and the other one, of 17.6 MWp, is situated in Bruchweiler, Rhineland-Palatinate.
Quadoro Erneuerbare Energien Europa (QEEE) fund, managed by EB - Sustainable Investment Management GmbH and Quadoro Doric Real Estate GmbH, completed the acquisition of 25.9 MWp Two Solar Parks in Germany from ABO Energy GmbH & Co. KGaA (XTRA:AB9) on July 9, 2025. Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to €43.20, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Renewable Energy industry in Europe. Total loss to shareholders of 26% over the past three years. Announcement • Apr 16
ABO Energy GmbH & Co. KGaA, Annual General Meeting, May 27, 2025 ABO Energy GmbH & Co. KGaA, Annual General Meeting, May 27, 2025, at 11:00 W. Europe Standard Time. New Risk • Apr 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 35% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.7% net profit margin). Reported Earnings • Apr 03
Full year 2024 earnings released Full year 2024 results: Revenue: €454.6m (up 52% from FY 2023). Net income: €25.6m (down 6.1% from FY 2023). Profit margin: 5.6% (down from 9.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 4.1% decline forecast for the Renewable Energy industry in Germany. Announcement • Apr 01
ABO Energy GmbH & Co. KGaA announces Annual dividend, payable on May 30, 2025 ABO Energy GmbH & Co. KGaA announced Annual dividend of EUR 0.6500 per share payable on May 30, 2025, ex-date on May 28, 2025 and record date on May 29, 2025. Announcement • Apr 28
ABO Wind AG to Report First Half, 2024 Results on Aug 31, 2024 ABO Wind AG announced that they will report first half, 2024 results on Aug 31, 2024 Announcement • Apr 27
ABO Wind AG, Annual General Meeting, Apr 30, 2024 ABO Wind AG, Annual General Meeting, Apr 30, 2024, at 11:00 Central European Standard Time. Declared Dividend • Apr 22
Dividend increased to €0.60 Dividend of €0.60 is 11% higher than last year. Ex-date: 2nd May 2024 Payment date: 6th May 2024 Dividend yield will be 1.1%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (20% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.4% per year over the past 5 years and payments have been stable during that time. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 26
Enkraft Seeks Special Auditor at ABO Wind On March 25, 2024, Enkraft announced that it is seeking to appoint a special auditor at ABO Wind AG to examine whether the Company informed shareholders too late about plans to effectively consolidate power among its main owners. Enkraft stated that if such an auditor is appointed and decides ABO Wind did breach disclosure rules, it could strengthen the hand of investors in any potential lawsuits against the Company. Reported Earnings • Mar 17
Full year 2023 earnings released Full year 2023 results: Revenue: €310.2m (up 34% from FY 2022). Net income: €27.3m (up 11% from FY 2022). Profit margin: 8.8% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Renewable Energy industry in Germany. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to €52.20, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 18x in the Renewable Energy industry in Germany. Total returns to shareholders of 16% over the past three years. Announcement • Aug 30
Enkraft Capital Urges ABO Wind to Give Up Legal Form Change On August 29, 2023, Enkraft Capital GmbH announced that it is stepping up pressure on ABO Wind AG to abandon a plan for a legal form change claiming it is not in favor of the German renewable’s developer and its minority shareholders. Enkraft Capital stated that at the beginning of June, the Company said it was considering a change of legal form into a partnership limited by shares, which is abbreviated in German as KGaA and this will give the Company more opportunities in the capital market as it needs more fresh capital to finance projects. Enkraft Capital expressed that since the announcement, the Company has lost nearly a quarter of its market capitalization with its share price in Frankfurt plunging about 24% to EUR 50.20 (USD 54.27) as of the early afternoon on August 29. According to Enkraft's managing director Benedikt Kormaier, the announcement of the planned change of legal form is responsible for the drop. More specifically, he estimates that the management team's adherence to the plan alone has destroyed around EUR 146 million in value up until now. In a letter to ABO Wind's management and supervisory boards, seen by Renewables Now, Kormaier says that the share price decline is solely attributable to the announcement as there has been no further negative corporate news that could have influenced the share price since then. According to Kormaier, the goal behind this move is to preserve the interests of the major shareholders -- the Ahn and Bockholt families at the expense of all other shareholders. In addition, Kormaier is hinting that Enkraft is ready to explore all possible legal paths to look into any potential wrongdoing or possible breaches of duty by the board members that might have harmed the company and its shareholders. Upcoming Dividend • Apr 21
Upcoming dividend of €0.54 per share at 0.8% yield Eligible shareholders must have bought the stock before 28 April 2023. Payment date: 03 May 2023. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.5%). Reported Earnings • Mar 17
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Revenue: €236.8m (up 86% from FY 2021). Net income: €24.6m (up 78% from FY 2021). Profit margin: 10% (in line with FY 2021). Revenue exceeded analyst estimates by 8.9%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.1% decline forecast for the Renewable Energy industry in Germany. Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €97.00, the stock trades at a trailing P/E ratio of 51.2x. Average forward P/E is 22x in the Renewable Energy industry in Germany. Total returns to shareholders of 402% over the past three years. Announcement • Jan 10
ABO Wind AG Announces Resignation of Jörg Lukowsky as Acting Chairman of the Supervisory Board, Effective April 27, 2022 Jörg Lukowsky, acting chairman of the Supervisory Board of ABO Wind AG since April 2000, informed the Management Board that he will resign early from his mandate at the end of the ordinary general meeting on April 27, 2023. The reason given by Jörg Lukowsky is that he wants to set other priorities for himself in the future. He is convinced that ABO Wind AG will continue to develop well. Even after leaving the Supervisory Board, he will remain closely associated with the company. Buying Opportunity • Jan 07
Now 21% undervalued Over the last 90 days, the stock is up 31%. The fair value is estimated to be €93.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 4.7%. Revenue is forecast to grow by 68% in 2 years. Earnings is forecast to grow by 49% in the next 2 years. Price Target Changed • Oct 04
Price target increased to €109 Up from €95.00, the current price target is provided by 1 analyst. New target price is 90% above last closing price of €57.40. Stock is down 1.4% over the past year. The company posted earnings per share of €1.50 last year. Reported Earnings • Sep 03
First half 2022 earnings released: EPS: €0 (vs €0 in 1H 2021) First half 2022 results: EPS: €0 (vs €0 in 1H 2021). Revenue: €99.9m (up 62% from 1H 2021). Net income: €9.59m (up 48% from 1H 2021). Profit margin: 9.6% (in line with 1H 2021). Over the next year, revenue is forecast to grow 46% compared to a 10% decline forecast for the Renewable Energy industry in Germany. Price Target Changed • Jul 04
Price target increased to €95.00 Up from €79.00, the current price target is provided by 1 analyst. New target price is 75% above last closing price of €54.20. Stock is up 18% over the past year. The company posted earnings per share of €1.50 last year. Price Target Changed • Apr 27
Price target increased to €95.00 Up from €79.00, the current price target is provided by 1 analyst. New target price is 45% above last closing price of €65.60. Stock is up 28% over the past year. The company posted earnings per share of €1.50 last year. Reported Earnings • Mar 19
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €132.3m (down 11% from FY 2020). Net income: €13.8m (up 5.2% from FY 2020). Profit margin: 10% (up from 8.8% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 24%. Over the next year, revenue is forecast to grow 61% compared to a 36% decline forecast for the industry in Germany. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 18% share price gain to €55.40, the stock trades at a trailing P/E ratio of 37.4x. Average forward P/E is 24x in the Renewable Energy industry in Europe. Total returns to shareholders of 306% over the past three years. Price Target Changed • Feb 24
Price target increased to €79.00 Up from €73.00, the current price target is provided by 1 analyst. New target price is 78% above last closing price of €44.30. Stock is down 0.7% over the past year. The company posted earnings per share of €1.42 last year. Buying Opportunity • Jan 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be €61.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 4.0% over the last year. Price Target Changed • Jan 19
Price target increased to €79.00 Up from €73.00, the current price target is provided by 1 analyst. New target price is 40% above last closing price of €56.40. Stock is up 9.5% over the past year. The company is forecast to post earnings per share of €1.47 for next year compared to €1.42 last year. Price Target Changed • Dec 08
Price target increased to €79.00 Up from €66.00, the current price target is provided by 1 analyst. New target price is 38% above last closing price of €57.20. Stock is up 38% over the past year. The company is forecast to post earnings per share of €1.47 for next year compared to €1.42 last year. Price Target Changed • Sep 10
Price target increased to €73.00 Up from €66.00, the current price target is provided by 1 analyst. New target price is 46% above last closing price of €50.00. Stock is up 88% over the past year. Upcoming Dividend • Apr 19
Upcoming dividend of €0.45 per share Eligible shareholders must have bought the stock before 26 April 2021. Payment date: 28 April 2021. Trailing yield: 0.9%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (3.7%). Price Target Changed • Mar 19
Price target increased to €49.35 Up from €44.85, the current price target is an average from 2 analysts. New target price is 11% above last closing price of €44.40. Stock is up 194% over the past year. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS €1.42 (vs €1.48 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: €149.2m (up 18% from FY 2019). Net income: €13.1m (up 15% from FY 2019). Profit margin: 8.8% (down from 9.0% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improved over the past week After last week's 17% share price gain to €51.50, the stock is trading at a trailing P/E ratio of 35.9x, up from the previous P/E ratio of 30.8x. This compares to an average P/E of 34x in the Renewable Energy industry in Germany. Total returns to shareholders over the past three years are 366%. Is New 90 Day High Low • Jan 19
New 90-day high: €49.00 The company is up 62% from its price of €30.20 on 20 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 16% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €36.58 per share. Is New 90 Day High Low • Dec 23
New 90-day high: €46.60 The company is up 89% from its price of €24.60 on 23 September 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.77 per share. Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improved over the past week After last week's 16% share price gain to €46.00, the stock is trading at a trailing P/E ratio of 32.1x, up from the previous P/E ratio of 27.6x. This compares to an average P/E of 29x in the Renewable Energy industry in Germany. Total returns to shareholders over the past three years are 314%. Is New 90 Day High Low • Dec 04
New 90-day high: €39.60 The company is up 45% from its price of €27.40 on 04 September 2020. The German market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.24 per share. Is New 90 Day High Low • Nov 07
New 90-day high: €32.00 The company is up 48% from its price of €21.60 on 06 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.19 per share. Price Target Changed • Nov 06
Price target raised to €33.10 Up from €30.00, the current price target is an average from 2 analysts. The new target price is 11% above the current share price of €29.80. As of last close, the stock is up 82% over the past year. Is New 90 Day High Low • Oct 02
New 90-day high: €29.00 The company is up 34% from its price of €21.60 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is flat over the same period.