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Investing.com -- Friedrich Vorwerk Group SE (ETR:VH2) shares surged more than 16% on Tuesday after the German energy infrastructure company raised its full-year 2025 revenue and profit outlook following strong project execution and a rising order backlog.
The company lifted its revenue forecast to a range of €650 million to €680 million, up from a previous estimate of €610 million to €650 million.
The guidance for EBITDA margin was increased to 20-22% from 17.5-18.5%, reflecting improved profitability across major contracts.
At the midpoint of the revised forecast, EBITDA is expected to reach roughly €140 million, which Jefferies noted is about 19% above the current market consensus of €117 million and 15% higher than the bank’s prior estimate.
For the third quarter ended September 30, Vorwerk reported revenue of €202 million, a 39% increase from the same period last year and 19% higher than the previous quarter.
EBITDA more than doubled year over year to €51.3 million, producing a margin of 25.4%, compared with 17.5% in the third quarter of 2024.
Revenue for the first nine months of 2025 rose 49% from the prior year, while EBITDA more than doubled, bringing the year-to-date margin to 20.9%, up 600 basis points from the same period in 2024.
Jefferies attributed the gains to continued hiring growth of 13% year over year and a “high-quality order backlog” of €1.1 billion, with Corridor A North contributing significantly.
Order intake fell to €419 million in the nine-month period, down from €516 million a year earlier. However, total project volume, including joint ventures, increased 45% to €886 million.
Vorwerk’s net cash position rose by about €81 million to €111 million as of September 30. The company provides energy transportation and transformation infrastructure across gas, electricity, and hydrogen markets. Full third-quarter results are scheduled for publication on November 13.
Despite the operational momentum, Jefferies maintained its Underperform rating on the stock, citing risks tied to project concentration, staffing constraints, and potential delays in Europe’s hydrogen infrastructure buildout.
The brokerage set a price target of €64, about 24% below Monday’s closing price of €84.40, while noting potential upside if hydrogen network expansion accelerates. Friedrich Vorwerk’s market capitalization stands at approximately €1.7 billion.