DGAP-News

2G Energy AG: CORRECTION: Dynamic start to FY 2014 with EUR 115 million order book position - Seite 2

expansions at the company's site in Heek and in the USA, as well as the
expansion and qualification of the workforce. These investments and reserve
costs were not offset by any direct sales revenue growth in 2013. Earnings
were also impacted by losses incurred at 2G Italia and 2G Manufacturing
(USA). When looking at the reporting year overall, it should be noted that
2G has entered the 2014 financial year with a EUR 46 million order book
position for CHP systems. On the basis of German Commercial Code (HGB)
accounting, work that has already started on orders, which is recognized on
the balance sheet as of December 31, 2013 with a value of around EUR 23
million, is already reported with its costs in 2013, while the realization
of the related revenue and earnings will not occur until during the current
financial year.

Service business' revenue share rises to 22 %
The 2013 financial year was characterized by strong business in Germany,
especially for natural gas-driven 2G CHP systems. For the first time, 2G
sold more natural gas-driven CHP systems (50.9 % revenue share compared
with 42 .2 % in the previous year) than biogas-driven CHP systems (49.1 %
revenue share compared with 57.8 % in the previous year) in Germany. The
foreign share of revenue fell to around 22 % (previous year: 33 %). As
expected, business improved in the United Kingdom, Poland and the USA (USA
revenue EUR 11.5 million, previous year: EUR 9 million), whereas revenue in
2G's strongest foreign market to date, Italy, registered a sharp drop to
EUR 2.4 million (previous year: EUR 11 million). Outside Germany,
biogas-driven CHP systems' share of revenue remained dominant at
significantly above 90 %. Across all countries, total CHP revenues were
distributed 62 % to biogas (previous year: 73 % biogas) and 38 % to natural
gas (previous year: 27 % natural gas). While the share of the after-sales
business of 7 % of total revenue was unchanged compared with the previous
year, the service share improved from 16 % in the previous year to 22 % in
the reporting year.

Healthy balance sheet structure, equity ratio improves further to 53.2 %
The balance sheet structure of the 2G Energy Group remained very stable in
the 2013 financial year. Total assets changed by 6.5 % year-on-year to EUR
88.6 million. This is primarily attributable to a reduction in inventories
and the cash position. Non-current assets were almost unchanged across all
balance sheet items. Within current assets, raw materials and supplies were
reduced in line with planning. Work in progress amounted to EUR 23.5
million on the balance sheet date (previous year: EUR 12.7 million).