ABO Wind has reduced its profit forecast for 2019. In the recently published annual report, the Managing Board had expressed the expectation that in 2019 the net profit of € 12.7 euros achieved in 2018 would be exceeded.
Now that the company has updated the business plan as scheduled after the preparation of the annual financial statements, they expect a net profit of around € 10 million for the current year. In particular, further delays in approval procedures for German wind power projects had a negative impact. According to the updated planning, these delays will have a greater impact on the 2019 financial year than previously expected. This is an industry-wide problem. As the German Wind Energy Association recently reported, approval procedures for wind farms in Germany currently take an average of 700 to 800 days. Three years ago it was just 300 days.
