EQS-News

2G Energy AG boosts EBIT by 26 % to EUR 27.6 million in 2023 (previous year: EUR 22.0 million)

EQS-News: 2G Energy AG / Key word(s): Preliminary Results/Forecast 2G Energy AG boosts EBIT by 26 % to EUR 27.6 million in 2023 (previous year: EUR 22.0 million) 11.04.2024 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement. 2G Energy AG boosts EBIT by 26 % to EUR 27.6 million in 2023 (previous year: EUR 22.0 million)

• EBIT margin improves to 7.6 % (previous year: 7.0 %)
• New plants business grows by 22 % to around EUR 200 million (previous year: EUR 164.5 million)
• Service business up 11 % to EUR 165.1 million (previous year: EUR 148.1 million)
• Management Board raises lower sales revenue forecast limit to EUR 360 million (previously: EUR 350 million) and continues to expect an EBIT margin between 8.5 % and 10.0 % for 2024

Heek, April 11, 2024 - 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of combined heat and power (CHP) systems and a producer of heat pumps, once again increased consolidated sales revenue by 17 % to EUR 365.1 million (previous year: EUR 312.6 million), lifting the EBIT margin to 7.6 % (previous year: 7.0 %). EBIT growth accelerated in absolute terms due to the significant increase in sales revenues and margins to EUR 5.6 million, resulting in EBIT of EUR 27.6 million (previous year’s increase: EUR 4.1 million to EUR 22.0 million).

Of all the sales regions, the new plants business in Germany posted the strongest growth of EUR 40.3 million (+48.6 %) to EUR 123.1 million (previous year: EUR 82.8 million) and was thereby able to overcome the weak growth of the previous year in full measure. At the same time, the service business in the domestic market maintained its continuous growth of the last few years (+8.1 % to EUR 111.9 million). Almost all the major, traditional international markets also contributed significant gains in the service segment, in many cases with double-digit growth rates. However, the new plants business in Anglo-Saxon territories declined markedly due to temporary effects, and the other foreign markets were not able to make up for them. Overall, however, foreign markets expanded by EUR 3.8 million to EUR 130.1 million (previous year: EUR 126.3 million).