Presentation: Abo Wind AG

Abo Wind AG is - as the name suggests - active in the field of renewable energy. The AG develops and realizes projects worldwide in three different areas:

1. wind: over 700 wind turbines with 1,700 megawatts connected to the grid worldwide.

2. solar: a total of 70 megawatts of solar parks connected to the grid - projects with 5,000 megawatts are currently being implemented.

Battery & hydrogen: Realization of projects combining wind/solar with battery storage or hydrogen electrolysis.

In total, projects with 19 gigawatts are currently being implemented.

Revenue: In 2014, revenue was €97.8 million. By 2020, sales had risen to €149.2 million, falling to €127.1 million in 2021. Total output (which includes values under development) increased from €107.6 million in 2014 to €187.5 million in 2021 (2020: 169.4).

Profit: From €5.3 million in 2014 to €13.8 million in 2021 (2020: 13.1).

Balance sheet assets: The balance sheet shows a total of €297 million for 2021. Equity amounts to € 149.9 million (equity ratio approx. 50.4%). In 2015, the balance sheet value was still € 125.4 million with an equity ratio of 41.5%.

Shares

The share capital is divided into 9,220,893 shares. 26% are owned by the Bockholt family, 26% by the Ahn family. 10% are held by Mainova AG, the remainder (38%) is in free float. The share price is currently €59.20. This results in a capitalization of €545.9 million.

Currently the EBITDA/share is 3,31€ and the net profit is 1,50€ (P/E 39,5). The sales per share is 13,79€ (KUV 4,3). The book value is €16.25.

Dividend: Abo Wind has been paying dividends for a long time. In 2014 this was 0.25€/ share - for 2021 0.49€/ share is planned. This corresponds to a yield of 0.8%.

Outlook: For the coming years, Abo Wind AG is positive, which is mainly due to the acceleration of renewable energy expansions. From 2024, the company aims to generate sustainable surpluses in the amount of €20 million. This would reduce the P/E ratio to at least 27.3 at the current price.

For me (note: I am invested), the company is a good option in the renewable energy sector. Demand is increasing, the company has been profitable for a long time and has a good equity value which is increasing. In addition, the shareholder structure is strong, as far-sighted trading is likely. The company is broadly positioned with its product portfolio. However, the share ratios are currently very high. For example, the P/E ratio was still 6.8 in 2015, as high as 3.4 in 2016, and only rose to 32.7 in 2020, which is due to the strongly rising share price.

-All info from the company's website as well as Annual Report 2021-.