Energiekontor Stock: Profit Forecast Slashed for 2024

Energiekontor, the Bremen-based wind and solar park developer, has significantly downgraded its profit expectations for the fiscal year 2024. The company now anticipates pre-tax earnings between €23-27 million, marking a substantial reduction from its initial forecast of €30-70 million. This adjustment stems primarily from delays in ongoing sales processes across Germany and the United Kingdom, with transactions worth approximately €40-45 million being pushed into the first quarter of 2025. A notable setback involves a Scottish wind park project with 47 megawatts capacity, which faces delays due to pending EU approvals. The company attributes these postponements to ongoing supply chain challenges and project implementation delays.

Strategic Growth Plans Remain Intact

Despite the short-term profit adjustment, Energiekontor maintains its long-term strategic direction. The company's position appears robust with construction permits secured for 34 projects, totaling 1.1 gigawatts in capacity. Currently, projects amounting to 370 megawatts are under construction. The management team continues to uphold its ambitious target of achieving approximately €120 million in pre-tax profit by 2028, demonstrating confidence in the company's growth trajectory despite current headwinds.

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