DGAP-News: 2G Energy AG / Key word(s): Quarter Results/Forecast
2G Energy AG reports net sales and EBIT growth in the third quarter
- Net sales rise to EUR 146.5 million in the first three quarters of 2020 (previous year: EUR 141.5 million)
- Total output reports significant rise to EUR 180.2 million (previous year: EUR 161.3 million)
- Earnings before interest and tax (EBIT) grow to EUR 5.1 million (previous year: EUR 4.9 million)
- Stable new order intake of EUR 123.0 million (previous year: EUR 118.9 million) ensures capacity utilization until the end of the second quarter of 2021
- Management Board confirms previous net sales and earnings forecasts (EUR 235 million to EUR 250 million with EBIT margin between 5.5 % and 7.0 %) and expects 2021 net sales of EUR 240 million to EUR 260 million
Earnings before interest and tax (EBIT) improved slightly from EUR 4.9 million to EUR 5.1 million.
Order situation remains stable
Given the continuation of stable new order intake, combined with in some cases considerable COVID-19-related catch-up effects in individual foreign markets such as North America, as well as thanks to the continued constant growth of the service business, the Management Board expects net sales of between EUR 240 million and EUR 260 million for next year.
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 utilized 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. 2G's customers thereby benefit consistently 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 236 million in the 2019 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. The share capital amounts to EUR 4,430,000, and is divided into 4,430,000 shares. As of June 30, 2020, company founders Christian Grotholt and Ludger Gausling held a 52.3 % interest in the company, with the free float amounting to 47.7 %.
2020/2021 calendar dates
16.11.2020 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
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