DGAP-News 2G Energy AG increases net sales to around EUR 247 million in FY 2020 and reports buoyant start to 2021
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
Heek, February 25, 2021 - According to preliminary results, 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of gas-fired combined heat and power (CHP) plants, has increased its net sales in the past financial year by around 4 % to approximately EUR 247 million. According to preliminary figures, total operating revenue amounted to around EUR 250 million (previous year: EUR 226.1 million). The company is thereby successfully continuing its organic growth with an increase in output of around 10 %, as planned. Given net sales at the upper end of the most recently communicated range (EUR 235 million to EUR 250 million), the Management Board now expects the EBIT margin for 2020 to lie in the range between 6.25% to 7.0% (previously: 5.5 % to 7.0 %).
Rising international business and service business as revenue drivers
A key impetus for the further growth in net sales derived particularly from brisk international business and from service. According to the preliminary results, international business rose in absolute terms to around EUR 94 million (previous year: EUR 82.9 million), while service business increased to around EUR 93 million (previous year: EUR 89.4 million).