DGAP-News 2G Energy AG reporting dynamic first quarter growth
DGAP-News: 2G Energy AG / Key word(s): Quarter Results
Corporate News Heek, May 17, 2021
2G Energy AG reporting dynamic first quarter growth
- Sales revenues increase to EUR 43.2 million (previous year: EUR 32.0 million); EBIT stands at EUR 0.3 million (prior year: EUR 0.5 million)
- Total operating performance in Q1 recorded at EUR 47.6 million (previous year: EUR 52.3 million)
- Further gains in order intake in April to EUR 16.3 million (previous year: EUR 15.1 million)
Heek, May 17, 2021 - 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of gas-fired combined heat and power (CHP) plants, can now look back on a very good start to the new year 2021, following on from a successful fiscal year 2020. In the first three months, sales revenues were up by 35% to EUR 43.2 million.
"In view of the strong final settlement in the first quarter, combined with the continued high order backlog at the end of the quarter of EUR 136 million, we are confident with regard to our sales forecast, which currently still assumes unchanged annual sales in the range of EUR 245 million to EUR 260 million," as CFO Friedrich Pehle stated.
The usual company vacations at the turn of the year were extended by one week this year for reasons of infection protection. Nevertheless, total operating performance was down only disproportionately by EUR 4.7 million, as further efficiency gains in the context of the lead-to-lean project had a dampening effect. Both effects were reflected in a EUR 0.2 million EBIT reduction.
As in the first three months of the current fiscal year, order intake in April, at EUR 16.3 million, again exceeded the already high prior-year level of EUR 15.1 million. Foreign business made a major contribution here, accounting for around 45% of the total. In particular, the markets in France (EUR 2.6 million) and in Asia and Australia (EUR 1.9 million) played a decisive role.