DGAP-News 2G Energy AG increases EBIT margin to 6.7 % in FY 2020 (previous year: 6.5 %)
DGAP-News: 2G Energy AG / Key word(s): Preliminary Results/Forecast
Corporate News Heek, March 25, 2021
2G increases EBIT margin to 6.7 % in FY 2020 (previous year: 6.5 %)
- Consolidated net sales grow by 4.4 % to EUR 246.7 million (previous year: EUR 236.4 million)
- Total operating revenue reports significant rise to EUR 254.2 million (previous year: EUR 226.1 million, +12.4 %)
- EBIT improves to EUR 16.4 million (previous year: EUR 15.5 million, +6.4 %), consolidated net profit stands at EUR 12.0 million (previous year: EUR 10.3 million, +16.1 %)
- Management Board expects further revenue growth and an EBIT margin between 6.0 % and 7.5 % for 2021
- Foundation of 2G Energy International GmbH and appointment of a Senior Vice President International Sales
Heek, March 25, 2021 - 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas driven combined heat and power (CHP) systems, reports higher consolidated net sales of EUR 246.7 million in the past 2020 financial year, as planned (previous year: EUR 236.4 million). In addition, 2G improved its consolidated earnings before interest and tax (EBIT) to EUR 16.4 million (previous year: EUR 15.5 million), corresponding to a 6.7 % EBIT margin (previous year: 6.5 %).
2G increased its total operating revenue by 12.4% to EUR 254.2 million in the 2020 financial year. The company thereby continued to successfully pursue its organic growth as planned.
Significant growth in foreign sales
With net sales up 14 % to EUR 94.4 million (previous year: EUR 82.9 million), foreign business accounted for a disproportionately large contribution to the net sales growth. In total, 43 % of net sales from CHP systems were generated outside of Germany (previous year: 39 %). The branch operations generating the highest sales again included 2G Energy Inc. (USA) at EUR 27.2 million (previous year: EUR 18.4 million) and 2G Energy Ltd. (UK) contributing EUR 22.2 million (previous year: EUR 18.1 million).