2G Energy AG
2G Energy AG reports renewed net sales and EBIT growth in Q3
DGAP-News: 2G Energy AG
/ Key word(s): 9 Month figures/Forecast
– Net sales rise to EUR 141.5 million in the first three quarters of 2019 (previous year: EUR 131.6 million) – Earnings before interest and tax (EBIT) grow to EUR 4.9 million (EUR 4.0 million). – Total operating revenue increases from EUR 156.1 million to EUR 161.3 million – Dynamic new order intake in September and October of EUR 27.9 million (previous year EUR 18.3 million, +52 %) ensures continued high order book position of EUR 157.2 million – Management Board confirms previous net sales forecast of EUR 220 million to EUR 230 million (with EBIT margin between 5.5 % and 7.0 %) and expects net sales of EUR 230-250 million for 2020 – Contract with CFO Friedrich Pehle extended
2G grew its consolidated earnings before interest and tax (EBIT) to EUR 4.9 million (previous year: EUR 4.0 million), corresponding to a 3.5 % EBIT margin (previous year: 3.0 %). As in previous years, the Management Board assumes for the current fourth quarter that CHP systems installed and accepted by December 31, 2019 will generate high net sales and earnings contributions. On this basis, the Management Board confirms its net sales forecast for the current financial year of between EUR 220 million and EUR 230 million and continues to expect an EBIT margin between 5.5 % and 7.0 %. New order intake as of the end of October amounted to a total of EUR 118.9 million (previous year: EUR 142.1 million). While monthly new order intake in the first eight months of the current year was generally well below the previous year’s level – reflecting the special situation in the German biogas market’s business cycle – it reaccelerated significantly in September (EUR 13.8 million compared with EUR 6.7 million in 2018) and October (EUR 14.1 million compared with EUR 11.6 million). Further sales growth expected By 2024, 2G expects to increase annual net sales to around EUR 300 million. In addition to both direct and partner sales of CHP plants and services, industrial cooperations will also make their contribution to this in the medium and long term. Contract with CFO Friedrich Pehle extended 2G company portrait 2G benefits from global long-term trends that make efficient and effective energy solutions ever more important. These include rising energy demand accompanied at the same time by the need to conserve natural resources. 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 creates a high barrier to market entry for competitors. The cogeneration of mechanical energy and heating/cooling make CHP technology more efficient and more environmentally compatible than conventional energy production methods. Compared with conventional electricity generation, CHP technology saves up to 40 percent of primary energy, and emits up to 60 percent less carbon dioxide and nitrogen oxide. 2G customers thereby benefit consistently from economically and ecologically highly beneficial innovations that rapidly pay for themselves and create extensive added values. 2G employs around 640 staff at its headquarters in Heek, Germany, in St. Augustine, USA, as well as at five other European locations. The company is active in a total of 50 countries and generated net sales of EUR 209.8 million in the 2018 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, 2019, company founders Christian Grotholt and Ludger Gausling held a 53.0 % interest in the company, with the free float amounting to 47.0 %. 2019/2020 calendar dates IR contact
25.11.2019 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 |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange |
EQS News ID: | 920165 |
End of News | DGAP News Service |