DGAP-News: 2G Energy AG starts FY 2020 with tailwind
DGAP-News: 2G Energy AG
/ Key word(s): Incoming Orders
2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas driven combined heat and power systems (CHP systems), reports continued brisk demand for its systems both in Germany and abroad. New order intake in the fourth quarter of 2019 was up by 16 % year-on-year to reach EUR 36.1 million. New order intake increased by EUR 3.5 million (+22 %) in Germany and by EUR 1.6 million abroad (+11 %). With regard to gas types, the natural gas market showed signs of recovery in the fourth quarter. A total of EUR 16.7 million of new orders were acquired, representing a 26 % increase over the previous year (EUR 13.3 million). The share of natural gas thereby continues to gain in significance and accounted for 46 % of total new order intake (previous year: 43 %). In Germany, fourth-quarter new order intake for natural gas driven plants rose by EUR 2.3 million year-on-year to EUR 7.3 million, which also stood above the previous average for the first three quarters of 2019 (EUR 5.2 million). Following the strong fourth quarter, new order intake for FY 2019 reached a total of EUR 140.9 million, down by just 13 % on the previous year (EUR 161.6 million). While new order intake, especially in the first half of the year, was partly up to 30 % below the level of the previous year, which was characterized by the special situation in the German biogas market business cycle, it accelerated significantly from September onwards. The reorganization measures initiated in the US subsidiary in FY 2018 took full effect in 2019 with fourth-quarter new order intake amounting to EUR 9.0 million (including Canada; previous year: EUR 2.9 million). On a full-year view, new order intake in this market has thereby more than doubled to EUR 21.7 million (previous year: EUR 10.2 million). Management Board expects brisk start to the year and further sales growth for 2020 Overall, the Management Board sees its organic growth strategy as being confirmed. The growth in net sales of up to 10 % planned for the current year - as already announced - to thereby reach full-year net sales of between EUR 230 million and EUR 250 million, is already well secured thanks to the high order book position and encouraging market signals at home and abroad. By 2024, the Management Board expects to be able to increase annual net sales to around EUR 300 million. 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 %. 2020 calendar dates IR contact
16.01.2020 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: | [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: | 954407 |
End of News | DGAP News Service |
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954407 16.01.2020
2G Energy AG Stock
2G Energy AG is currently one of the favorites of our community with 8 Buy predictions and no Sell predictions.
With a target price of 30 € there is a slightly positive potential of 19.52% for 2G Energy AG compared to the current price of 25.1 €.