2G Energy AG

  • WKN: A0HL8N
  • ISIN: DE000A0HL8N9
  • Land: Deutschland

Nachricht vom 25.02.2021 | 08:30

2G Energy AG increases net sales to around EUR 247 million in FY 2020 and reports buoyant start to 2021

DGAP-News: 2G Energy AG / Key word(s): Preliminary Results/Forecast
25.02.2021 / 08:30
The issuer is solely responsible for the content of this announcement.

Corporate News Heek, February 25, 2021

2G increases net sales to around EUR 247 million in FY 2020 and reports buoyant start to 2021

- Net sales of 2G Energy AG up by more than 4 % to EUR 247 million (previous year: EUR 236.4 million)

- Total operating revenue up by around 10 % to EUR 250 million, as planned (previous year: EUR 226.1 million)

- EBIT margin expected in the upper half of the earnings forecast (now: 6.25 % to 7.0 %)

- Strong US business leads to high new order intake of EUR 15.0 million in January (Ø monthly order intake in Q4 2020: EUR 12.3 million)

- Foreign subsidiary receives order for hydrogen CHP plant for the first time

Heek, February 25, 2021 - According to preliminary results, 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of gas-fired combined heat and power (CHP) plants, has increased its net sales in the past financial year by around 4 % to approximately EUR 247 million. According to preliminary figures, total operating revenue amounted to around EUR 250 million (previous year: EUR 226.1 million). The company is thereby successfully continuing its organic growth with an increase in output of around 10 %, as planned. Given net sales at the upper end of the most recently communicated range (EUR 235 million to EUR 250 million), the Management Board now expects the EBIT margin for 2020 to lie in the range between 6.25% to 7.0% (previously: 5.5 % to 7.0 %).

Rising international business and service business as revenue drivers
A key impetus for the further growth in net sales derived particularly from brisk international business and from service. According to the preliminary results, international business rose in absolute terms to around EUR 94 million (previous year: EUR 82.9 million), while service business increased to around EUR 93 million (previous year: EUR 89.4 million).

2G will release its complete preliminary results on March 25.

Strong US and international business ensures buoyant start to the year
Thanks to a continued pickup in demand for new systems in North America (EUR 5.3 million), 2G recorded a high level of new order intake totaling EUR 15.0 million in January. Compared with the level in the previous year (EUR 19.9 million), which was dominated by a single order worth EUR 4.8 million, new order intake decreased in absolute terms, although it nevertheless stood significantly higher than the average figure for the last quarter of 2020 (EUR 12.3 million). Overall, the export share in January amounted to EUR 10.2 million, or 68 %.

Given the high order book position and continued stable demand, the Management Board confirms its most recently communicated revenue forecast for 2021 of between EUR 240 million and EUR 260 million.

2G receives order for hydrogen CHP in Orkney/Scotland
In collaboration with the European Marine Energy Centre (EMEC) and Highlands and Islands Airports Limited (HIAL), 2G Energy Ltd. (UK) has been awarded a contract by Doosan Babcock to supply and install a hydrogen CHP unit to decarbonise the heat and power supply at Kirkwall Airport using green hydrogen technology.

2G's hydrogen-capable CHP system will be coupled with the airport's existing heating system to meet the heat and power needs of the main airport buildings. The CHP system will use green hydrogen supplied by EMEC to generate electricity and recover waste heat.

2G's 100% hydrogen-fuelled CHP system is part of a package of initiatives being driven by EMEC and HIAL to decarbonise the airport. An energy consumption study conducted by EMEC identified that space and water heating demand in the airport terminal is the largest source of greenhouse gas emissions after flight operations.

Decarbonising airport-side activities is an important step in enabling HIAL to meet the Scottish Government's target for the Highlands and Islands to be the world's first net zero aviation region by 2040.

2G company profile
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, the company offers comprehensive solutions in the growing market for highly efficient combined heat and power (CHP) systems. 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 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. As of February 15, 2021, company founders Christian Grotholt and Ludger Gausling held a 45.45 % interest in the company, with the free float amounting to 54.55 %.

2021 calendar dates
March 25        Preliminary results for the FY ending December 31, 2020, 2021 guidance
March 26        Metzler MicroCap Days
April 14-15      Warburg Meet-the-Future: Renewables
April 29           Publication of the consolidated financial statements for the FY ending December 31, 2020
May 17           Q1 key figures and business trends
May 17-19      Spring Conference, Frankfurt am Main
June 15          Ordinary AGM, Ahaus
September 9  Consolidated financial statements as of June 30, 2021
November 18 Q3 key figures and business trends
November      German Equity Capital Forum, Frankfurt am Main

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

25.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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