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2G Energy AG boosts Q3 net sales and EBIT

EQS-News: 2G Energy AG / Key word(s): Quarter Results
2G Energy AG boosts Q3 net sales and EBIT
21.11.2022 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

2G Energy AG boosts Q3 net sales and EBIT

  • Net sales advance to EUR 76.8 million (previous year: EUR 51.5 million) in Q3

  • Total operating revenue up 35 % to EUR 90.1 million (previous year: EUR 67.1 million)

  • EBIT rises to EUR 6.1 million as of the end of September (previous year: EUR 3.6 million)

  • Management Board confirms net sales and earnings guidance for 2022

Heek, November 21, 2022 – 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of gas-fired combined heat and power (CHP) systems, substantially boosted its net sales in the third quarter – as already communicated in the corporate news release on October 20 on the basis of preliminary figures. As of September 30, final consolidated net sales amounted to EUR 190.8 million (previous year: EUR 158.5 million).

“In addition to a significant increase in the number of finalized projects, we also succeeded in keeping factory output at a consistently high level in the past third quarter,” notes COO Ludger Holtkamp, referring to the increase in total operating revenue to EUR 227.9 million at the end of September (previous year: EUR 178.7 million). “This provides a good basis for achieving the guidance for consolidated net sales of between EUR 290 million and EUR 310 million.”

In line with the higher level of net sales, earnings before interest and tax rose to EUR 6.1 million in the first nine months of the year (previous year: EUR 3.6 million), corresponding to an EBIT margin of 3.2 % (previous year: 2.3 %). “Despite significant cost increases in almost all major input factors, the cost of materials ratio and the other operating expenses ratio have to date been only slightly higher than in the previous year. As a consequence, the significant growth in net sales more than offsets the cost trend,” comments CFO Friedrich Pehle. “Given this, we should be able to achieve not only our net sales target for the year as a whole, but also our EBIT expectations of between 6 % and 8 %.



2G company portrait
The 2G Energy AG Group is an internationally leading manufacturer of decentralized energy supply systems. With the development, production and technical installation as well as digital grid integration of combined heat and power systems (CHPs), the company offers comprehensive solutions in the growth market for highly efficient CHPs. After-sales and maintenance services comprise an important additional performance criterion. The product range especially includes CHP modules in the 20 kW and 4,500 kW range for operation utilizing hydrogen, natural gas, biogas as well as other lean gases. Worldwide, more than 8,000 installed 2G systems in various applications supply electrical and thermal energy to a broad spectrum of customers including companies in the housing industry, agriculture, commercial and industrial companies, public energy utilities, and municipal and local government authorities.

2G benefits from global long-term trends that make efficient and decentralized energy solutions ever more important. These trends include not only rising energy demand but also the need to conserve natural resources. The parallel generation of electrical and thermal energy makes CHP technology more efficient and climate-compatible than conventional power conversion methods, especially when, for example, hydrogen of regenerative origin is harnessed as fuel. 2G power plants can offset wind and solar power plant production fluctuations as required, thereby forming a backbone technology for future supply concepts, especially in the deployment of hydrogen engines. As a consequence, 2G’s customers derive consistent benefits from economically and ecologically highly beneficial innovations that rapidly pay for themselves and create extensive added values.

2G is consistently expanding its technological leadership through continuous research and development work, both in gas engine technology for hydrogen, natural gas and biogas applications, as well as in specific software development. Moreover, in the energy revolution’s future electricity market design, the digitalization that 2G consistently implements forms an indispensable system-relevant element in combination with solar, wind, biogas and natural gas producers, and creates a high barrier to market entry for competitors.

2G employs around 750 staff at its headquarters in Heek, Germany, in North America, as well as at five other European locations. The company is active in more than 50 countries and generated net sales of EUR 266 million in the 2021 financial year. 2G was founded in 1995 and has been listed on the capital market since 2007. The shares of 2G Energy (ISIN DE000A0HL8N9) are listed in the “Scale” segment of the Frankfurt Stock Exchange.

2022 calendar dates
November 28-30   German Equity Forum, Frankfurt
February 23          Announcement of Preliminary Net Sales 2022
March 30              Preliminary results for FY 2022, 2023 guidance
April 27                Consolidated financial statements for FY 2022
May 15-16           Spring Conference, Frankfurt
May 23                Q1 key figures and business trends
June 13               Ordinary AGM, Ahaus

IR contact
2G Energy AG
Benzstrasse 3, 48619 Heek
Phone: +49 (0) 2568 93 47-2795
Fax: +49 (0) 2568 93 47-15
Email: ir@2-g.de
Internet: www.2-g.de

 

 


21.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

2G Energy AG

Benzstr. 3

48619 Heek

Germany

Phone:

+49 (0)2568-9347-0

Fax:

+49 (0)2568-9347-15

E-mail:

service@2-g.de

Internet:

www.2-g.de

ISIN:

DE000A0HL8N9

WKN:

A0HL8N

Indices:

Scale 30

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange

EQS News ID:

1491959


 

End of News

EQS News Service

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