Energiekontor Lowers 2024 Earnings Forecast

Energiekontor AG, a prominent German developer and operator of wind and solar parks, has revised its earnings forecast for the 2024 financial year. The adjustment comes as the company faces delays in sales processes and supply chain issues. As a result, the company's earnings before taxes (EBT) are expected to fall to a range of approximately 23 to 27 million euros, down from the previously anticipated range of 30 to 70 million euros.

The primary cause of the delay is attributed to complications in ongoing sales transactions in Germany and the UK. Some projects will not complete by the end of the 2024 financial year, with significant margins shifting to 2025. A significant wind park project in Scotland, involving 47 megawatts, is also delayed due to pending EU authorization.