Friedrich Vorwerk Group Se · XETR:VH2
Friedrich Vorwerk — Q3 2025 Earnings Presentation
27 slides from Friedrich Vorwerk's earnings presentation, Nov 13, 2025
Slide 1: Q3 Earnings Call
Q3 Earnings Call H 13 November 2025 Driving the clean energy transition.
Slide 2: Today's presenters
Today‘s presenters Torben Kleinfeldt Tim Hameister CEO CFO Group Strategy & Development Finance & Controlling VORWERKer since 2001 VORWERKer since 2019 25+ years industry experience 9+ years industry experience Diplomas in Engineering and Business M.Sc. Financial Management & Accounting 1
Slide 3: Introduction
H Introduction 2
Slide 4: With 60 years of experience, VORWERK is realizing the energy infrastructure of the future
With 60 years of experience, VORWERK is realizing the energy infrastructure of the future A strong group of companies … … in highly attractive markets … Husum Natural Electricity Clean Adjacent Marne Gas Hydrogen Opportunities Brunn Hamburg Wiesmoor Stade Lüchow Skwierzyna (PL) … with decade-long cu
Slide 5: VORWERK is critical in transforming and delivering energy from producers to consumers
VORWERK is critical in transforming and delivering energy from producers to consumers Production/ import Transformation/ transportation Consumer LNG Terminals Storage & Compressor Gas pressure Pipelines measurement stations regulating & metering International stations pipelines Landfall Power-to-Hea
Slide 6: Market update
H Market update 5
Slide 7: Plans for a new NATO pipeline to supply fuel to Eastern Europe
Plans for a new NATO pipeline to supply fuel to Eastern Europe, first announced in February, are taking shape – showing potential high-volume projects for VORWERK Extension of the NATO GAS PIPELINE SYSTEM CEPS 03.10.2025 Poland wants to connect to NATO pipeline for fuel supply Poland is planning to
Slide 8: New cabinet decision reinforces the German Hydrogen Acceleration Act
The new cabinet decision reinforces the positive effects of the German Hydrogen Acceleration Act – also for implementation partners such as VORWERK Detailing of the initial HYDROGEN ACCELERATION ACT 30.09.2025 Decided by the cabinet – Better conditions for hydrogen ramp-up Focus on the transport net
Slide 9: Transportation of CO2 requires substantial investments into new pipelines and systems
The transportation of CO2 to neighboring countries requires substantial investments into new pipelines and systems Planned German CO2 TRANSPORT NETWORK 06.11.2025 Passed by the Bundestag – the way Cluster Elbmündung is clear for carbon dioxide storage Transporting 18.8 million t CO2 in the OGE WHV C
Slide 10: Financial performance
H Financial performance 9
Slide 11: The third quarter again saw a strong revenue increase compared to previous year
The third quarter again saw a strong revenue increase compared to previous year Revenue in €m +39% +45% 202.0 170.0 +73% 159.3 145.0 133.0 117.4 76.7 + 39 % revenue increase y-o-y in Q3 2025 Q1 Q2 Q3 Q4 2024 2025 10
Slide 12: Year-to-date revenues increased by 49% compared to the previous year
As a result, year-to-date revenues increased by 49% compared to the previous year Revenue Revenue by segment in €m in % +49% 505.1 505.1 17 % Adj. Opportunities 3% Clean Hydrogen 339.1 339.1 49 25 % 53 % Electricity 5% + % 35 % revenue increase y-o-y YTD Q3 2025 35 % 26 % Natural Gas YTD Q3 2024 YTD
Slide 13: 103% y-o-y EBITDA hike, profitability growth outperforming revenue growth
With a 103 % y-o-y EBITDA hike, profitability growth has again outperformed the revenue growth by far EBITDA EBIT (adj.) in €m, blue bubbles show EBITDA margin in €m, blue bubbles show EBIT margin 17.5% 25.4% 13.7% 19.1% +103% 25.4 % 51.3 EBITDA margin +125 % in Q3 2025 44.7 25.3 19.1 19.8 % Q3 2024
Slide 14: Year to date, EBITDA margin is at 20.9% and EBIT up 155%
Year to date, EBITDA margin is at 20.9 % and EBIT up 155 % compared to previous year EBITDA EBIT (adj.) in €m, blue bubbles show EBITDA margin in €m, blue bubbles show EBIT margin 14.7% 20.9% 10.1% 17.3% +113% 105.8 +155 % 20.9 % EBITDA margin 87.3 YTD Q3 2025 49.7 34.2 YTD Q3 2024 YTD Q3 2025 YTD Q
Slide 15: Order intake and backlog provide a strong foundation for further growth
Driven by strong market demand, order intake and backlog provide a strong foundation for further growth Order intake Order intake Order backlog Total VOR project VOR contribution in €m in €m volume in €m -7 % 1.178 1.102 +45% 886 +45 % Order intake total -19 % project volume 609 516 year-on-year 419
Slide 16: Net cash remains strong and increased by 27.9 m€ since Q2/25
Despite the strong revenue growth, net cash remains strong and increased by 27.9 m€ since Q2/25 Net cash in €m Significantly higher profitability +80.8 +27.9 111.5 Increased focus on contractual agreements in terms of billing terms 83.5 Monthly invoicing on major 111.5 m€ project A-Nord Net cash as
Slide 17: For 2025, we raised our guidance to €650-680 million revenues
For 2025, we raised our guidance to €650 - €680 million revenues at 20.0-22.0% EBITDA-margin range due to our great past performance, strong position and development potential Revenue Guidance Profitability guidance │ EBITDA margin in €m in €m / in % 17.5- 20.0- 16.2% 16-17% 18.5 % 22.0 % 650 650-68
Slide 18: Business update
H Business update 17
Slide 19: The ETL 179.200 is currently in preparation phase, starting civil engineering in 2026
The ETL 179.200 is currently in preparation phase, starting civil engineering in 2026 Gasunie | Energie-Transport-Leitung (ETL) 179.200 Project details ETL 179.100 Total length of 18 km from Bützfleth to Deinste; DN 900 ArGe Expansion of the Bützfletz S2 station and construction of the Wiepenkathen
Slide 20: The HDD Baltrum Büsum project is technically challenging, but proceeding according to plan
The HDD Baltrum Büsum project is technically challenging, but proceeding according to plan TenneT | HDD Baltrum Büsum Project details 39 large boreholes in 2-shift operation (24/7) 7 Schleswig-Holstein landing Büsum / NOK (~900m) 16 Niedersachsen landing Dornum (~1.300m) 16 Niedersachsen underpass B
Slide 21: H2 Gas Pressure Regulation and Measurement System (GDRMA) project
With the “H2 Gas Pressure Regulation and Measurement System (GDRMA)” project, the hydrogen market also continues to show strong potential for VORWERK ONTRAS | H2 GDRMA at Bobbau Project details Total order volume (planning and implementation phase) in the mid-two-digit € million range Planning until
Slide 22: VORWERK continues to be an increasingly valued partner in the district heating sector
VORWERK continues to be an increasingly valued partner in the Almost every second municipality launches heat planning 29.08.2025 district heating sector […] By the beginning of May this year, […] 47% of all municipalities had begun to draw up heating plans. A further […] 4.5% have already been compl
Slide 23: Development work for the 5C Tech PX-II welding system is paying off
The innovative development work for the 5C Tech PX-II welding system is already paying off significantly in pilot projects 5C Tech Pipeline Technology Partner Founded in 2023, since then successful development on site in Tostedt Sophisticated welding technology as a turnkey solution for automated pi
Slide 24: The expansion of our workforce continues to make strong progress
The expansion of our workforce continues to make strong progress this year Number of employees Key drivers Comprehensive roll-out of improved VORWERK employer brand +8% +13% 2,208 2,106 Introduction of various employee benefits, 1,948 incl. doubling of compensation for away- from-home work assignmen
Slide 25: Questions & Answers
Questions & Answers Torben Kleinfeldt CEO Tim Hameister CFO 24
Slide 26: Driving the Clean Energy Transition.
H Driving the Clean Energy Transition.
Slide 27: Disclaimer
Disclaimer By accessing this document, you agree to abide by the limitations set out hereafter. The information contained in this document relating to Friedrich Vorwerk Group SE (“Friedrich Vorwerk" or the "Company") may not be redistributed, reproduced, published, or passed on to any other person a
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