DGAP-News

2G Energy AG reports net sales and EBIT growth in the third quarter

DGAP-News: 2G Energy AG / Key word(s): Quarter Results/Forecast 2G Energy AG reports net sales and EBIT growth in the third quarter 16.11.2020 / 08:30 The issuer is solely responsible for the content of this announcement. 2G Energy AG reports net sales and EBIT growth in the third quarter

- Net sales rise to EUR 146.5 million in the first three quarters of 2020 (previous year: EUR 141.5 million)

- Total output reports significant rise to EUR 180.2 million (previous year: EUR 161.3 million)

- Earnings before interest and tax (EBIT) grow to EUR 5.1 million (previous year: EUR 4.9 million)

- Stable new order intake of EUR 123.0 million (previous year: EUR 118.9 million) ensures capacity utilization until the end of the second quarter of 2021

- Management Board confirms previous net sales and earnings forecasts (EUR 235 million to EUR 250 million with EBIT margin between 5.5 % and 7.0 %) and expects 2021 net sales of EUR 240 million to EUR 260 million

Heek, November 16, 2020 - 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading producers of gas driven combined heat and power (CHP) systems, remains on its growth track in the current 2020 year. After net sales in the first half of the year were still around EUR 10.2 million below the previous year's figure due to the COVID-19 pandemic, 2G significantly increased its net sales in the third quarter to EUR 61.0 million (previous year: EUR 45.7 million). Further successes in the lead-to-lean and digitalization projects ensured a further increase in output, with the consequence that total operating revenue at the end of the third quarter reached EUR 180.2 million (previous year: EUR 161.3 million).

Earnings before interest and tax (EBIT) improved slightly from EUR 4.9 million to EUR 5.1 million.
As in previous years, the Management Board assumes for the current fourth quarter that CHP systems installed and accepted by December 31, 2020 will deliver the usual high net sales and earnings contributions. On this basis, the Management Board confirms its net sales forecast for the current financial year of between EUR 235 million and EUR 250 million, and continues to expect an EBIT margin of between 5.5 % and 7.0 %.