2G Energy AG
2G Energy AG grows profitably in 2016 and expands foreign business
DGAP-News: 2G Energy AG / Key word(s): Final Results/Forecast – FY 2016 net sales grow 14 % to EUR 174.3 million (previous year: EUR 152.9 million)
– EBIT up in line by 18 % to EUR 5.6 million (previous year: EUR 4.8 million) – EBIT margin at 3.2 % (previous year: 3.1 %) – Order book position signals continued high contribution from important foreign markets for 2017 – Business strategy focusing on expanding margins in product and service businesses – 2017 guidance: net sales of EUR 160 million to EUR 180 million, EBIT margin 3-5 %
In light of this, the Management Board has reappraised the opportunities and risks entailed in project business with general contractor characteristics and decided not to progress this business any further. Current projects of this type are to be terminated on an orderly basis. Starting this year, 2G is focusing mainly on margin enhancement in the familiar product and service business in Germany and abroad. Foreign share of consolidated sales rises to more than 30 % Overall, the Münsterland-based company generated around EUR 112.0 million at Group level from the sale of CHP systems, equivalent to 67 % of its total sales. The foreign share in this business area amounted to 34 % (previous year: 35 %). In Germany, the company achieved sales growth with Biogas driven CHP modules of 80 % to EUR 28.8 million especially due to a pickup in the business of the flexibilisation of biogas plants (previous year: EUR 16.1 million). 2G reported a slight year-on-year increase in its sales from the service and spare parts business to EUR 57.1 million (previous year: EUR 52.1 million). This business area thereby continues to account for an important proportion of sales of around one third (previous year: 34 %). Personal expense ratio falls, cost of materials ratio rises Outlook for the current FY 2017 In light of this order book position and taking the market and competitive situation in Germany and abroad into account, the Management Board assumes sales in a range between EUR 160 million and EUR 180 million can be achieved in the current financial year and an EBIT margin of between 3 % and 5 %. Along with the construction of combined heat and power stations, the company, located in Westphalia in the northwest of Germany, offers integrated solutions spanning the planning stage and installation through to service and maintenance work. In the context of the energy policy revolution, and as part of modern energy supply concepts, CHP systems are gaining considerably in importance in intelligent energy grid systems – so-called virtual power plants – due to their decentralized and scalable operation, and predictable availability. 2G is consistently expanding its technology leadership through continuous research and development work, both in gas engine technology for natural gas, biogas and synthetic gas applications (e.g. hydrogen), as well as in specific software development. The “virtual power plant” operating type, for example, has been created with a software solution. Overall, the 2G power plant is thereby operated on a basis that is “heating-managed and electricity-oriented” in order to significantly simplify integration within a grid group. In the energy policy revolution’s future electricity market design, such digitalization-enabled flexibility 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. The shares of 2G Energy (ISIN DE000A0HL8N9) have been listed in the trading segment Scale on the Frankfurt Stock Exchange since March 01, 2017. The share capital amounts to EUR 4,430,000, and is divided into 4,430,000 shares. The company’s founders held 53.3 % of the shares as of the end of January 2017, with the free float amounting to 46.9 %. 2017 dates May 30, 2017 Publication of Group Financial Report as of Dec. 31, 2016 IR contact
27.04.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt |
End of News | DGAP News Service |