DGAP-News: 2G Energy AG / Key word(s): Quarter Results/Dividend
Corporate News Heek, April 29, 2021
2G Energy AG: Dynamic first quarter - new order intake of EUR 46.4 million (previous year EUR 45.2 million); net sales up significantly year-on-year
- Q1 net sales up by around 35 % to approximately EUR 43 million (previous year: EUR 32.0 million)
- 2G signs cooperation agreement with Osaka-based Yanmar
- Management and Supervisory boards propose unchanged dividend of EUR 0.45
Heek, April 29, 2021 - 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas driven combined heat and power (CHP) systems, reports dynamic new order intake of EUR 46.4 million in the first quarter (previous year: EUR 45.2 million).
Business abroad contributed more than 50 % of this intake of new orders. Overall, the composition of new order intake in the past quarter is as follows:
In light of the good order book position, the Management Board expects full capacity utilization by the end of the year, and regards the high order income from abroad as renewed confirmation of the Group's focus on international markets, which accelerated further with the recent founding of 2G Energy International GmbH.
Q1 net sales rise to over EUR 40 million
Preliminary net sales figures, which have not yet been finally consolidated, show a significant increase in net sales in the first quarter to around EUR 43 million (previous year: EUR 32.0 million). After total operating revenue in the past financial year rose to over EUR 254 million, reflecting inventories EUR 7.4 million higher (2019: inventory reduction of EUR 10.3 million), final billing was realized for a number of these projects in the first quarter. "We see the steadying of sales activity, particularly also between the 4th and 1st quarters, as a further indication that we are making good progress in implementing industrial processes," says CFO Friedrich Pehle.
2G signs cooperation agreement with Yanmar/Osaka
A further sign of the Group's increased focus on the sale of new systems abroad is the cooperation agreement that has now been signed with Yanmar Energy System Co., Ltd, a subsidiary of Yanmar Holdings, which is based in Osaka (Japan). From now on, Yanmar will distribute 2G's CHP systems in the power range of 20-2,500 kW in Asia, the Middle East and North Africa.
"In Japan, we expect demand for new CHP plants to expand over the coming years", says CEO Christian Grotholt. The new Japanese Prime Minister Yoshihide Suga has announced that Japan aims to reduce its greenhouse gas emissions to zero by 2050. Japan is focusing especially on hydrogen in pioneering the move to decarbonized energy supplies.
2G has seen lively interest in its hydrogen technology and won its first order for a hydrogen-fueled plant in Japan last year, which was delivered earlier this year. Last week, 2G acquired another order for a hydrogen plant to be delivered before the end of 2021.
The partnership with Yanmar enables 2G to further promote its partner concept, and to expand the number of renowned companies that have included 2G equipment in their own product portfolios, or deploy 2G-modified core components.
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 energy production 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. 2G's customers thereby 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 natural gas, hydrogen 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 establishes a high barrier to market entry for competitors.
2G employs around 700 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 247 million in the 2020 financial year. 2G was founded in 1995 and has been listed on the stock market since 2007. The shares of 2G Energy (ISIN DE000A0HL8N9) are listed in the "Scale" segment of the Frankfurt Stock Exchange. As of February 15, 2021, company founders Christian Grotholt and Ludger Gausling held a 45.1 % interest in the company, with the free float amounting to 54.9 %.
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29.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
2G Energy AG
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