DGAP-News

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

Management and Supervisory boards propose increased dividend of EUR 0.40

At its 29 May 2017 meeting to approve the annual financial statements, the Supervisory Board concurred with the Management Board's proposal that the 2016 AGM approve an increased dividend of EUR 0.40 per share. With this first-time increase in the dividend (previously: EUR 0.37), the Management Board would like to express the 2G Group's potential for sustainable income growth.

Dynamic start to FY 2017 with order book position exceeding EUR 110 million

2G generated EUR 30.4 million of sales in the first quarter 2017 (EUR 25.3 million). This 20 % growth arises from CHP orders from the previous year that were finally invoiced as well as from a high level of service revenues. The inventory of work in progress reported an increase of EUR 7.0 million as of the reporting date, reflecting good production utilization. Total operating revenue amounts to EUR 37.5 million as a consequence (EUR 35.6 million). The result before interest and tax (EBIT) stood at EUR -0.5 million (EUR 0.1 million). The seasonally typical negative Q1 interim result is mainly attributable to work in progress recognized under German Commercial Code (HGB) accounting policies, as well as the recognition of sales and earnings once the orders have been accepted and finally invoiced. As a consequence, business during the first quarter of 2017 does not yet allow any specific conclusions to be drawn about full-year trends. The order book position as of 30 April 2017 remained at a constantly high level of EUR 111.1 million (EUR 88.0 million). Around 45 % of the order volume for gas driven 2G CHP systems derives from abroad. The high order book position and continuous cash flows from the Service business - an area that is not dependent on new order intake - generate confidence that the forecast figures for the 2017 financial year can be attained with a sales range between EUR 160 million and EUR 180 million and an EBIT margin in a range between 3 % and 5 %.