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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Friedrich Vorwerk Group
Friedrich Vorwerk Group (VH2) investor relations material
Friedrich Vorwerk Group Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
Q3 revenue reached a record €228.3m, up 13% YoY; EBITDA rose 58% to €80.9m.
9M revenue increased 12% to €565.6m; production output, including JV revenue share, rose 40.1% to €791.7m.
FY 2026 revenue guidance was raised to €760m–€790m and EBITDA guidance to €220m–€230m.
September total project volume exceeded €1.2bn, supporting a strong start to 2027 despite fewer large awards in 9M.
Financial highlights
Q3 EBIT was €70.8m; adjusted EBIT was €72.8m, up 63% YoY.
9M EBITDA was €173.4m, up 64%; adjusted EBIT rose 71.3% to €149.7m.
Adjusted net profit after non-controlling interests was €97.9m, or €4.90 per share; IFRS EPS was €4.89.
Operating cash flow was €63.8m versus €2.4m a year earlier; investing and financing cash flows were -€47.7m and -€28.2m.
Outlook and guidance
FY 2026 revenue guidance rose to €760m–€790m from €730m–€780m; EBITDA guidance rose to €220m–€230m from €180m–€200m.
Guidance reflects Q4 weather and contract-amendment uncertainty; JV profits are expected below Q3 and Q4 is two weeks shorter due to Christmas.
Higher full-year operating cash flow is expected as seasonal working-capital needs reverse in Q4.
2027 JV project mix is expected to remain broadly similar to 2026; hydrogen construction is expected to lift the segment’s revenue share.
U.S. welding operations could generate double-digit-million-euro revenue as early as 2028.
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Latest events from Friedrich Vorwerk Group
- Record Q3 results drive higher 2026 revenue and EBITDA guidance.VH2
Q3 2026 TU - H1 profit growth and record Q2 margins lifted 2026 EBITDA guidance to €180–200 million.VH2Q2 2026
- EBITDA jumped 70% to €92.6M in H1 2026, prompting a raised full-year outlook.VH2Q2 2026 TU
- Q1 2026: revenue up 4.6–5%, EBITDA up 74.7–75%, order backlog at €1.441 billion.VH2Q1 2026
- Revenue up 41% and EBITDA more than doubled in 2025, led by electricity and hydrogen projects.VH2Q4 2025
- Q3 revenue and EBITDA soared, backlog hit €1.2bn, and guidance was raised on strong demand.VH2Q3 2024
- Q2 revenue up 27%, EBITDA more than doubled, and 2024 guidance raised on record order backlog.VH2Q2 2024
- Record revenue and margin growth, robust backlog, and strong outlook for 2025.VH2Q1 2025
- Record 2024 revenue, margin recovery, and strong backlog support a positive 2025 outlook.VH2Q4 2024
Next Friedrich Vorwerk Group earnings date
Q4 202625 Mar, 2027
Friedrich Vorwerk Group
Next Friedrich Vorwerk Group earnings date
Q4 202625 Mar, 2027
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Frequently asked questions
Friedrich Vorwerk Group SE is a company engaged in the transformation and transportation of energy across Germany and Europe. The company operates through four main segments: Natural Gas, Electricity, Clean Hydrogen, and Adjacent Opportunities. Its services range from infrastructure for natural gas transport and conversion to the underground transport and conversion of electricity generated from non-fossil energy sources like wind, solar, hydro, and renewable resources. Moreover, Friedrich Vorwerk is involved in the emerging clean hydrogen sector, offering solutions for the conversion of energy into hydrogen and its subsequent transportation. The company also explores Adjacent Opportunities, providing technologies for the treatment and cleaning of biogenic and synthetic gases, heat extraction for district heating, and transportation solutions for drinking and wastewater, along with specialty solutions for the chemical and petrochemical industries. The company is headquartered in Tostedt, Germany, and its shares are listed on the Xetra.