ABO Wind books higher H1 profit, full-year growth seen despite pandemic

German renewables developer ABO Wind AG (ETR:AB9) recorded a net profit of EUR 6.3 million (USD 7.5m) for the first half (H1) of 2020, an increase compared to EUR 5.5 million in the books a year earlier.

Revenues for the period totalled EUR 59.3 million, up by 4.8% year-on-year. Total performance, which includes revenues and changes in inventories of products and services, rose by 19.6% to EUR 70.9 million.

Despite the development of wind and solar project being marred by restrictions associated with the COVID-19 pandemic, ABO Wind expects to stay on track for the 2020 financial year, it said.

The full-year net profit is seen at around EUR 12 million, compared to EUR 11.4 million in 2019. If expectations come to fruition, 2020 would be the fifth consecutive year for ABO Wind to record a net profit of more than EUR 10 million, the company said.

(EUR 1.0 = USD 1.194)

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