EQS-News

2G Energy AG noticeably improves cost of materials ratio in the first quarter and substantially increases EBIT

EQS-News: 2G Energy AG / Key word(s): Quarter Results 2G Energy AG noticeably improves cost of materials ratio in the first quarter and substantially increases EBIT 23.05.2024 / 08:30 CET/CEST The issuer is solely responsible for the content of this announcement. 2G Energy AG noticeably improves cost of materials ratio in the first quarter and substantially increases EBIT

• Cost of materials ratio drops to 64.5% (previous year: 69.0%)
• EBIT of EUR 0.9 million marks a significant increase over the previous year (EUR -0.2 million)
• Sales revenues remain at a very high level at EUR 69.5 million (previous year: EUR 68.5 million)
• Management Board confirms outlook for the current and coming year

Heek, May 23, 2024 - With sales revenues of EUR 69.5 million, 2G Energy AG (ISIN DE000A0HL8N9), one of the world’s leading manufacturers of Combined Heat and Power (CHP) systems and a producer of heat pumps, succeeded in building on its very high level of the previous year (EUR 68.5 million) in the first quarter of the current fiscal year (+ EUR 1.0 million).

Cost of materials ratio drops to 64.5% (previous year: 69.0%)

Significant improvements in earnings were achieved by normalizing the cost of materials ratio. Now that the procurement side of the business has calmed down appreciably with price increases currently running in the low single-digit percentage range, the company’s own moderate list price adjustments of the last 18 months are having a greater impact. The ratio of material costs on one side to 2G’s list prices on the other is thus returning to normal.

EBIT of EUR 0.9 million significantly above the previous year (EUR -0.2 million)

With the distribution of sales revenues between CHP systems and Services as well as between domestic and foreign revenues painting a very similar picture overall to the previous year, the improvement in the cost of materials ratio is largely reflected in EBIT which has increased by EUR 1.1 million. 2G has therefore already generated a significantly positive EBIT of EUR 0.9 million in the first quarter (previous year: EUR -0.2 million).