German renewables outfit ABO Wind’s net profit increased 3% in the first half of 2021, compared with the same period last year.
The company’s net profit stood at €6.5m in the first six months of the year, up from €6.3m last year.
ABO Wind said its managing board expects the full year net profit to exceed the €13.1m made in 2020.
The group’s revenue reached €61.7m in the first half of 2021, rising from €59.3m in the previous year.
It said six countries mainly contributed to the revenue – Germany, Finland, France, Spain, Greece and Ireland.
The developer is currently working on wind and solar farms as well as battery storage facilities with a total capacity of nearly 16.8GW.
ABO Wind managing director Karsten Schlageter said: “In the past six months, we have succeeded in expanding our pipeline by almost 2GW, despite the restrictions imposed by the pandemic.
“This is thanks to the commitment of our 800 colleagues and forms the basis for our future business success.”
The contact restrictions still in place in many countries impede the initiation of new projects and delay approval processes, ABO Wind said.
Nevertheless, it expects further increasing net profits in the next few years.