DGAP-News

2G Energy AG: Sales in Q1 2017 up 20 % to EUR 30.4 million

DGAP-News: 2G Energy AG / Key word(s): Quarter Results/Forecast 2G Energy AG: Sales in Q1 2017 up 20 % to EUR 30.4 million 30.05.2017 / 08:07 The issuer is solely responsible for the content of this announcement. - 2016: Sales of EUR 174.3 million (previous year: EUR 152.9 million), EBIT margin of 3.2 % (3.1 %) - Planned dividend increase from EUR 0.37 to EUR 0.40

- Q1/2017 sales EUR 30.4 million (EUR 25.3 million), EBIT EUR -0.5 million (EUR 0.1 million) seasonally in line with plan

- 2017 guidance: Sales EUR 160 - 180 million, EBIT margin 3 - 5 %

- CHP system order book position at end of April 2017: EUR 111.1 million (EUR 88 million)

- Contracts with CEO Christian Grotholt and COO Ludger Holtkamp extended for five years / CFO Dietmar Brockhaus steps down from Management Board at own request

2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas driven combined heat and power (CHP) systems, generated consolidated sales growth of 14 % to reach a level of EUR 174.3 million in the 2016 financial year (as of 31 December), on the basis of audited figures (previous year: EUR 152.9 million). Total operating revenue increased by 19 % to around EUR 183.6 million (EUR 154.7 million), taking into account EUR 7.1 million of inventory changes (EUR 0.1 million) and EUR 2.3 million (EUR 1.8 million) of other work performed by the company and capitalized. 2G generated 18 % higher earnings before interest and tax (EBIT) of EUR 5.6 million in the reporting year (EUR 4.8 million), on the basis of accounting standards according to the German Commercial Code (HGB). This corresponds to a 3.2 % EBIT margin (3.1 %), as already reported as part of the publication (corporate news on 27 April 2017) of preliminary results. After an extraordinary result of EUR -1.8 million, the consolidated net income for 2016 amounted to EUR 1.8 million (EUR 2.6 million). Other operating expenses include an extraordinary expense item for previous years' business transactions due to a EUR 1.8 million allocation to miscellaneous other provisions. This provision is connected with tax law questions that have not yet been finally clarified relating to foreign supply and service relationships for the 2012-2015 years. Earnings per share excluding minority interests stand at EUR 0.40 (EUR 0.59).