EQS-News

2G Energy AG boosts order intake by 26% in 1st quarter

EQS-News: 2G Energy AG / Key word(s): Incoming Orders/Dividend 2G Energy AG boosts order intake by 26% in 1st quarter 18.04.2024 / 13:04 CET/CEST The issuer is solely responsible for the content of this announcement. 2G Energy AG boosts order intake by 26% in 1st quarter

• Orders reach EUR 51.7 million (previous year: EUR 41.0 million)
• US market overcomes caution and shows significant growth (EUR 10.1 million; previous year: EUR 2.6 million)
• 2G sells its first CHP/heat pump combination in Germany
• Management and Supervisory boards propose a dividend increase of 21% to EUR 0.17 per share

Heek, April 18, 2024 - 2G Energy AG (ISIN DE000A0HL8N9), one of the world’s leading manufacturers of combined heat and power (CHP) systems and a producer of heat pumps, maintained its high growth trajectory in the first quarter of 2024. In the first three months, 2G boosted its order intake by 26%, winning orders for new systems in an amount of EUR 51.7 million (previous year: EUR 41.0 million). A total of EUR 1.9 million was attributable to the heat pump business.

US market overcomes caution and posts significant growth

In the US market, the Inflation Reduction Act (IRA) is now leading to increased orders after 2G had used the previous months together with its customers and project partners to work on numerous projects in line with IRA requirements. In the first quarter, orders worth EUR 10.1 million were recorded, which represents an almost fourfold increase compared to the previous year (EUR 2.6 million). 2G continues to anticipate an increase in new order intake in the USA in the coming quarters.

The order intake in the last quarter breaks down as follows:

	Q1 2024		Q1 2023		Change
	in EUR million	in %	in EUR million	in %	in EUR million	in %
Germany	23.5	45%	21.1	51%	2.4	11%
Rest of Europe	14.4	28%	10.0	24%	4.4	44%
North America	10.1	20%	2.6	6%	7.5	290%
Asia/Australia	1.9	4%	5.4	13%	-3.5	-65%
Rest of the world	1.8	3%	1.9	5%	-0.1	-4%
Total	51.7	100%	41.0	100%	10.7	26%

2G sells its first CHP systems combined with heat pumps in Germany