Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

DGAP-News: 2G Energy AG: Increased total operating revenue and brisk new order intake despite Covid-19 pandemic


DGAP-News: 2G Energy AG / Key word(s): Quarter Results/Incoming Orders
2G Energy AG: Increased total operating revenue and brisk new order intake despite Covid-19 pandemic

28.05.2020 / 08:30
The issuer is solely responsible for the content of this announcement.


2G Energy AG: Increased total operating revenue and brisk new order intake despite Covid-19 pandemic

- Q1 total operating revenue grows to EUR 52.3 million (previous year: EUR 50.3 million)

- Net sales reach EUR 32.0 million (previous year: EUR 36.4 million); EBIT positive at EUR 0.5 million (previous year: EUR 0.9 million)

- Continued dynamic new order intake of EUR 15.1 million in April (previous year: EUR 7.4 million).

- 2G receives major order for 8MW natural gas project in Adlershof Technology Park (Berlin)

2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading producers of gas driven combined heat and power (CHP) systems, has weathered the Covid-19 crisis well so far. Except for individual cases, production was largely uninterrupted throughout Q1 and subsequently. With a total operating revenue of EUR 52.3 million (previous year: EUR 50.3 million), another increase in output was achieved (+ 4%) consequently.

In the first three months of the year, net sales of EUR 32.0 million were realized, which lies below the previous year's figure of EUR 36.4 million. Due to the lower level of net sales as of the reporting date, Q1-EBIT fell slightly to EUR 0.5 million (previous year: EUR 0.9 million). "Traditionally, the first quarter only plays a minor role in terms of sales and EBIT," notes CFO Friedrich Pehle. "For this reason, we are all the more pleased that our efforts to implement an industrial process model are once again reflected in an increase in output." For the full 2020 year, the Management Board expects - barring unforeseen developments - net sales of EUR 235 million to EUR 250 million (previous year: EUR 236.4 million) and an EBIT margin of 5.5% to 7.0% (previous year: 6.5%).

New order intake as of the end of the first four months amounted to EUR 60.4 million, around 30% higher than in the previous year (EUR 46.6 million). The German natural gas market contributed EUR 15.0 million in this context (previous year: EUR 5.9 million). As in previous years, the production is therefore expected to be fully utilized in two shifts until the end of the year.

2G delivers two avus 4000a for district heating supplies in Berlin
2G has received an order from the Berlin-based energy supplier BTB GmbH to supply two natural gas-fired cogeneration systems of the avus 4000a type. The order is worth around EUR 3.7 million. The two systems, with combined electrical output of 8 MW, are to be commissioned in spring 2021 for the cogeneration of heat and electricity. The cogeneration system is located in Berlin-Adlershof, Germany's largest science and technology park, with a total of more than 1,200 companies and scientific institutions.

The 2G systems complement an existing energy plant system (96 MW th, 13 MW el) owned by BTB. This system supplies Adlershof and surrounding urban regions with district heating. The expansion with the two 2G CHP modules will boost efficiency and ensure that the CHP heat share in the supply area is provided on a resource-conserving and climate-compatible basis.

2G company portrait
2G Energy AG is an internationally leading full-service provider of combined heat and power systems (CHP) with electric output between 20 kW and 2,000 kW, which are deployed for the decentralized generation and supply of electricity and heating. 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. In particular, this product range, which is based on thousands of systems realized, significantly differentiates 2G from its competitors.

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/electrical energy and usable heat makes CHP technology more efficient and climate-compatible than conventional energy production methods, especially if, for example, hydrogen from regenerative sources is utilized as fuel. 2G power systems offset fluctuating electricity production from wind and solar power plants in line with demand, consequently forming a backbone technology for future supply concepts. 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 650 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 sales of some EUR 236.0 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 December 31, 2019, company founders Christian Grotholt and Ludger Gausling held a 52.3 % interest in the company, with the free float amounting to 47.7 %.

2020 calendar dates
June 23 Virtual Ordinary AGM, Heek
June 30 - July 01 Spring conference, Frankfurt am Main
September 17 H1 Interim consolidated financial statements as of June 30, 2020
November 16 Q3 key figures and business trends
November 16-18 German Equity Forum, Frankfurt am Main

IR contact
2G Energy AG
Benzstr. 3, 48619 Heek
Phone: +49 (0)2568 93 47-2795
Fax: +49 (0)2568 93 47-15
Email: [email protected]
Internet: www.2-g.de



28.05.2020 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


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: [email protected]
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: 1056289

 
End of News DGAP News Service

1056289  28.05.2020 

fncls.ssp?fn=show_t_gif&application_id=1056289&application_name=news&site_id=sharewise

2G Energy AG Stock

€21.20
-1.850%
A loss of -1.850% shows a downward development for 2G Energy AG.
2G Energy AG is currently one of the favorites of our community with 7 Buy predictions and no Sell predictions.
With a target price of 30 € there is a positive potential of 41.51% for 2G Energy AG compared to the current price of 21.2 €.
Like: 0
Share
EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




Legal notice

Comments