德國(guó)Friedrich Vorwerk計(jì)劃擴(kuò)大氫市場(chǎng)

據(jù)OE網(wǎng)站3月8日法蘭克福報(bào)道，德國(guó)能源基礎(chǔ)設(shè)施公司Friedrich Vorwerk的最大股東周一表示，該公司計(jì)劃于第一季度在法蘭克福證券交易所（Frankfurt stock exchange）進(jìn)行首次公開募股（IPO），以加速氫能源市場(chǎng)的增長(zhǎng)。

該公司是MBB工業(yè)公司的子公司，其目標(biāo)是從新發(fā)行的股份以及現(xiàn)有所有者手中籌集約9000萬(wàn)歐元（合1.07億美元）。

據(jù)三位知情人士稱，此次上市對(duì)Friedrich Vorwerk的估值可能在8億-10億歐元之間。

MBB擁有66%股份的Vorwerk專門從事天然氣、電力和氫市場(chǎng)的管道、電纜和工廠建設(shè)。其公布了2020年利息、稅收、折舊和攤銷前收益5,860萬(wàn)歐元，銷售額為2.912億歐元。

該公司拒絕就估值置評(píng)。

MBB表示，氫和電力業(yè)務(wù)預(yù)計(jì)將受益于“清潔能源轉(zhuǎn)型帶來的大量投資”。

德國(guó)已經(jīng)開始大規(guī)模開發(fā)“綠色”氫，利用風(fēng)能、太陽(yáng)能和生物質(zhì)能產(chǎn)生的可再生能源，通過電解水生產(chǎn)。

歐盟也在推動(dòng)這項(xiàng)技術(shù)，旨在為工業(yè)、能源、交通和其他部門開發(fā)替代燃料，作為該國(guó)實(shí)現(xiàn)氣候目標(biāo)的脫碳戰(zhàn)略的一部分。

Neles、Alfa Laval和Weir等同行的交易價(jià)格為其核心收益的14-15倍。如果Vorwerk獲得類似的倍數(shù)，其將在潛在的IPO中獲得8.5億歐元的估值。

該聲明稱，Vorwerk仍將是一家由所有者管理的企業(yè)，首席執(zhí)行官柯菲德(Torben Kleinfeldt)和MBB將保留該公司的大量股權(quán)。

Vorwerk的剩余股份由創(chuàng)始人的遺孀Irene Vorwerk和Kleinfeldt擁有。

Vorwerk擁有一條潛在訂單量巨大的銷售管道，包括新的地下電力運(yùn)輸線路Suedlink、Suedostlink和Corridor A-Nord，以及一些計(jì)劃中的氫電解槽工廠和管道。

郝芬 譯自 OE

原文如下：

Germany’s Friedrich Vorwerk Plans to Expand in Hydrogen Market

German energy infrastructure firm Friedrich Vorwerk plans an initial public offering (IPO) on the Frankfurt stock exchange in the first quarter to accelerate growth in the hydrogen market, its biggest shareholder said on Monday.

The company, a subsidiary of industrial firm MBB, aims to raise about 90 million euros ($107 million) from newly issued shares as well as shares from existing owners.

The listing could value Friedrich Vorwerk at 800 million to 1 billion euros, three sources close to the deal said.

Vorwerk, in which MBB has a 66% stake, specializes in pipeline, cable and plant construction for the gas, electricity and hydrogen markets. It posted earnings before interest, tax, depreciation and amortization of 58.6 million euros in 2020 on sales of 291.2 million euros.

The company declined to comment on the valuation.

MBB said the hydrogen and electricity businesses were expected to benefit from "substantial investments in light of the clean energy transition".

Germany has started large-scale efforts to develop 'green' hydrogen, which is produced from water by electrolysis using renewable power generated by wind, solar and biomass.

The technology, which is also being pushed by the European Union, aims to develop alternative fuels for industry, energy, transport and other sectors as part of the country's decarbonization strategy to meet climate targets.

Peers such as Neles, Alfa Laval and Weir trade at 14-15 times their core earnings. If Vorwerk secured a similar multiple, it would reap a 850 million euro valuation in a potential IPO.

Vorwerk would remain an owner-managed business, with Chief Executive Torben Kleinfeldt and MBB retaining a significant stake in the company, the statement said.

The remaining stakes in Vorwerk are owned by Irene Vorwerk, widow of the founder and Kleinfeldt.

Vorwerk has a sales pipeline with large potential order volumes from new underground electricity transport lines Suedlink, Suedostlink and Corridor A-Nord as well as a number of planned hydrogen electrolyzer plants and pipelines.