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2G Energy AG: FY 2014 sales revenue forecasts increased to over EUR 165 million; EBIT margin forecasts of 6 to 8 % confirmed

DGAP-News: 2G Energy AG / Key word(s): Half Year Results/Incoming
Orders
2G Energy AG: FY 2014 sales revenue forecasts increased to over EUR
165 million; EBIT margin forecasts of 6 to 8 % confirmed

30.09.2014 / 07:28

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Corporate News

2G Energy AG: FY 2014 sales revenue forecasts increased to over EUR 165
million; EBIT margin forecasts of 6 to 8 % confirmed

- 2014 H1 sales revenue: EUR 52.2 million (H1 2013: EUR 41.9 million)

- 2014 H1 total operating revenue: EUR 86.5 million (H1 2013: EUR 48.3
million)

- H1 2014 EBIT loss of EUR 0.5 million (H1 2013: loss of EUR 2.1 million)

- Business trends impacted by amendment to German Renewable Energies Act
as of August 1, 2014

Heek, September 30, 2014 - 2G Energy AG (ISIN DE000A0HL8N9), one of the
leading German manufacturers of combined heat and power (CHP) plants,
generated EUR 52.2 million of consolidated revenue in the first half of
2014 (as of June 30), compared with EUR 41.9 million in the equivalent
period of the previous year, representing 25 % growth. Business trends in
the first half of the year were affected by debate and speculation about
the amendment to the Renewables Energy Act (EEG) in Germany as of August 1,
2014. 2G reported a CHP order position of EUR 112.3 million as of June 30,
2014, comprising finished goods and work in progress. Total operating
revenue was up by almost 80 % to EUR 86.5 million compared with the
previous year's reporting date. As many supplies and services arising from
CHP orders for the German market that were placed before the amended EEG
came into force were being processed beyond the June 30, 2014 balance sheet
date, sales revenues and earnings were shifted into the second half of the
2014 financial year on the basis of German Commercial Code (HGB)
accounting. As of June 30, 2014, the company still reports a loss before
interest and tax (EBIT) of EUR 0.5 million due to reporting date and
seasonal factors (H1 2013: EUR -2.1 million), as the high order book
position consisting of work in progress of EUR 58.8 million arising from
the aforementioned CHP plant orders will not be finally invoiced with
customers until the second half of the year, when it will become effective
in terms of sales revenue and earnings. In markets outside Germany, sales
developed particularly well in the United Kingdom. A marked reticence to
invest was evident in Southern Europe, while trends in Eastern Europe were