- Oops!Something went wrong.Please try again later.
DGAP-News: 2G Energy AG / Key word(s): Quarter Results
Corporate News Heek, May 17, 2021
2G Energy AG reporting dynamic first quarter growth
- Sales revenues increase to EUR 43.2 million (previous year: EUR 32.0 million); EBIT stands at EUR 0.3 million (prior year: EUR 0.5 million)
- Total operating performance in Q1 recorded at EUR 47.6 million (previous year: EUR 52.3 million)
- Further gains in order intake in April to EUR 16.3 million (previous year: EUR 15.1 million)
Heek, May 17, 2021 - 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of gas-fired combined heat and power (CHP) plants, can now look back on a very good start to the new year 2021, following on from a successful fiscal year 2020. In the first three months, sales revenues were up by 35% to EUR 43.2 million.
"In view of the strong final settlement in the first quarter, combined with the continued high order backlog at the end of the quarter of EUR 136 million, we are confident with regard to our sales forecast, which currently still assumes unchanged annual sales in the range of EUR 245 million to EUR 260 million," as CFO Friedrich Pehle stated.
The usual company vacations at the turn of the year were extended by one week this year for reasons of infection protection. Nevertheless, total operating performance was down only disproportionately by EUR 4.7 million, as further efficiency gains in the context of the lead-to-lean project had a dampening effect. Both effects were reflected in a EUR 0.2 million EBIT reduction.
As in the first three months of the current fiscal year, order intake in April, at EUR 16.3 million, again exceeded the already high prior-year level of EUR 15.1 million. Foreign business made a major contribution here, accounting for around 45% of the total. In particular, the markets in France (EUR 2.6 million) and in Asia and Australia (EUR 1.9 million) played a decisive role.
Distortions on the procurement side, as evident in many other industries, have not yet impacted on 2G's delivery capabilities.
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. Aftersales 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 natural gas, biogas, as well as other lean gases and hydrogen. Worldwide, more than 6,500 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 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 %.
2021 calendar dates
17.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
2G Energy AG
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange
EQS News ID:
End of News
DGAP News Service