Friedrich Vorwerk Capitalizes on Germany's Green Hydrogen Infrastructure Expansion
Friedrich Vorwerk is benefiting from Germany's expansion of its green hydrogen infrastructure, which includes a national distribution network over 9,000 kilometers. Despite anticipating a slowdown in orders for 2024 and 2025, the company's order intake remains robust, with a backlog that has tripled since its IPO in March 2021, leading to a significant increase in market capitalization and revenue. With no net debt and strong current assets, Vorwerk is well-positioned for future acquisitions.
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Germany is expanding its green hydrogen initiatives, including a national distribution network exceeding 9,000 kilometers, with significant contributions from companies like Shell and EWE. Friedrich Vorwerk, a contractor based in Lower Saxony, is benefiting from this infrastructure rollout and has increased its order book as Germany shifts its industrial strategy, particularly following the break with Russia.
After record orders in 2023, the company anticipates a slowdown in 2024 and 2025, yet its order intake remains twice the pre-pandemic average and its backlog has tripled. Since its IPO in March 2021, Friedrich Vorwerk's market capitalization and revenue have more than doubled, while EBITDA surged from €55 million in 2021 to €163 million in 2025. The company has no net debt and possesses current assets covering all liabilities, positioning it well for potential acquisitions.
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