Friedrich Vorwerk Group SE

Friedrich Vorwerk, based in Lower Saxony, builds the pipelines, cabling and infrastructure that carry energy, from gas and hydrogen pipelines to electricity connections and converter stations for the grid. Germany's push to rebuild and green its energy network has filled its order books. The company is a young listing and has begun paying a modest dividend as profits grow, though it reinvests to capture the energy-infrastructure boom. The yield is small, so this is primarily a growth story tied to the energy transition, with a rising payout as a bonus.