EQS-News

2G Energy AG increases 2023 net sales to around EUR 365 million according to preliminary figures (previous year: EUR 312.6 million, +17 %)

EQS-News: 2G Energy AG / Key word(s): Development of Sales 2G Energy AG increases 2023 net sales to around EUR 365 million according to preliminary figures (previous year: EUR 312.6 million, +17 %) 29.02.2024 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement. 2G Energy AG increases 2023 net sales to around EUR 365 million according to preliminary figures (previous year: EUR 312.6 million, +17 %)

• New plants business grows by more than 20 % to around EUR 202 million
• Service segment business up by almost 10 % to approx. EUR 163 million
• Main sales driver is Germany with approx. + 25 %

Heek, February 29, 2024 – 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of combined heat and power (CHP) systems, and producers of heat pumps, continued its growth course in the past 2023 financial year, boosting its net sales markedly to around EUR 365 million, based on preliminary figures (previous year: EUR 312.6 million, +17 %).

Above all, new systems business proved to be the main sales driver, as customers surmounted the long-lasting bottlenecks - particularly in Germany - in terms of permits, building materials and the availability of skilled workers. Consequently, numerous projects were completed in good time for the beginning of the heating season, thus enabling 2G to issue the final invoices. As a result, machine sales in the fourth quarter were up by a good 40 % to a sound EUR 106 million (previous year: EUR 75.3 million).

"The gratifying increase in the machine population driven by the strong year-end surge forms the basis for the continued vibrant expansion of the service business," as CEO Christian Grotholt outlined. "Due to the structural increase in energy costs, our CHP systems are highly economical, in spite of lower annual operating hours in some cases. We compensate for the resulting limited service potential by way of additional service offerings for operators of CHP systems from other manufacturers."