DGAP-News: 2G Energy AG
/ Key word(s): Preliminary Results/Forecast
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
Rising international business and service business as revenue drivers 2G will release its complete preliminary results on March 25. Strong US and international business ensures buoyant start to the year
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'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 first 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 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 IR contact
25.02.2021 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: | 1170929 |
End of News | DGAP News Service |
1170929 25.02.2021