DGAP-News: 2G Energy AG / Key word(s): Incoming Orders/Forecast 2G Energy AG: Order intake up by around 70% to EUR 43.8 million in the third quarter (previous year: EUR 26.0 million) 2021-10-14 / 08:30 The issuer is solely responsible for the content of this announcement.
Corporate News Heek, 14 October 2021
2G Energy AG: Order intake up by around 70% to EUR 43.8 million in the third quarter (previous year: EUR 26.0 million) . Incoming orders from abroad grow by 161% (Q3 2021: EUR 20.1 million; previous year: EUR 7.7 million) . Domestic order intake expands by 30% (Q3 2021: EUR 23.8 million; previous year: EUR 18.3 million) . According to preliminary figures, the order backlog at the end of Q3 exceeds previous high at the end ofAugust 2018 . Deliveries burdened by material supply bottlenecks . EBIT forecast 2021 narrowed to 6.0 to 6.75% (previously stated at 6.0 to 7.5%)
Heek, 14 October 2021 - 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of gas-fired combined heat and power (CHP) plants, continued to record very dynamic order intake of EUR 43.8 million in the third quarter (previous year: EUR 26.0 million).
After the first nine months, incoming orders amounted to a total EUR 135.6 million, around 22% up on the previous year's figure (EUR 111.5 million).
Foreign business also took a lively course in the third quarter and contributed to around 46% of order intake. Overall, the distribution of order intake in the past quarter breaks down as follows:
CHP Q3 2021 Q3 2020 Deviation
in MEUR in % in MEUR in % in MEUR in %
Germany 23.8 54 % 18.3 70 % 5.5 + 30 %
Rest of Europe 13.4 30 % 5.5 21 % 7.9 + 144 %
North/Central America 0.9 2 % 0.2 1 % 0.7 + 350 %
Asia/Australia 2.5 6 % 0.3 1 % 2.2 + 733 %
Rest of the world 3.3 8 % 1.7 7 % 1.6 + 94 %
Total 43.8 100 % 26.0 100 % 17.8 + 69 %
According to preliminary figures, the order book at the end of Q3 exceeds the previous high of August 2018, which stood at EUR 161.8 million. The production capacities expanded as part of the lead-to-lean project are thereby fully utilized until the middle of next year.
Further capacity and structural expansions Against the backdrop of the continuously growing order intake from Germany and abroad, the Management Board has decided to continue to carefully adjust and expand the operating structures. In pursuing this course, it is intentionally accepted that these capacity expansions will temporarily result in burdens on profitability. Against this backdrop, the EBIT margin for the current fiscal year is only expected to be recorded in the lower half of the previous forecast of 6.0 to 7.5%. The Management Board additionally would like to point out that this forecast is highly dependent on how many systems will be accepted by customers by the end of the year, as the formal acceptance is a prerequisite for the corresponding revenue booking in accordance with the German Commercial Code.
Acceptance by customers delayed in particular due to materials supply difficulties Current sales are increasingly burdened by external factors. Although the more generous stocking of production materials has eased internal production processes to a certain extent, an increasing number of customers are postponing projects that have already been agreed and paid for, as they are also having to deal more frequently with delays on their construction sites, particularly due to materials supply bottlenecks. The resulting picture is very mixed, but the Management Board considers this situation as a relatively minor threat in the medium term, as these customers have aligned their energy generation concepts with the CHP plant they have ordered and are therefore absolutely dependent on the commissioning of the respective CHP facility. As things stand at present, the Management Board continues to assume that it will be able to achieve sales revenues in the region of the communicated range of EUR 250 to 260 million in the current fiscal year. 2G company portrait
The 2G Energy AG Group is an internationally leading manufacturer of decentralized energy supply systems. With the development, production and technical installation as well as digital grid integration of combined heat and power systems (CHPs), the company offers comprehensive solutions in the growth market for highly efficient CHPs. Aftersales and maintenance services comprise an important additional performance criterion. The product range especially includes CHP modules in the 20 kW and 4,500 kW range for operation utilizing hydrogen, natural gas, biogas, as well as other lean gases. Worldwide, more than 7,000 installed 2G systems in various applications supply electrical and thermal energy to a broad spectrum of customers including companies in the housing industry, agriculture, commercial and industrial companies, public energy utilities, and municipal and local government authorities.
2G benefits from global long-term trends that make efficient and decentralized energy solutions ever more important. These trends include not only rising energy demand but also the need to conserve natural resources. The parallel generation of electrical and thermal energy makes CHP technology more efficient and climate-compatible than conventional energy production methods, especially when, for example, hydrogen of regenerative origin is harnessed as fuel. 2G power plants can offset wind and solar power plant production fluctuations as required, thereby forming a backbone technology for future supply concepts, especially in the deployment of hydrogen engines. 2G's customers thereby derive consistent benefits from economically and ecologically highly beneficial innovations that rapidly pay for themselves and create extensive added values.
2G is consistently expanding its technological leadership through continuous research and development work, both in gas engine technology for hydrogen, natural gas and biogas applications, as well as in specific software development. Moreover, in the energy revolution's future electricity market design, the digitalization that 2G consistently implements forms an indispensable system-relevant element in combination with solar, wind, biogas and natural gas producers, and establishes a high barrier to market entry for competitors.
2G employs around 700 staff at its headquarters in Heek, Germany, in North America, as well as at five other European locations. The company is active in more than 50 countries and generated net sales of EUR 247 million in the 2020 financial year. 2G was founded in 1995 and has been listed on the stock market since 2007. The shares of 2G Energy (ISIN DE000A0HL8N9) are listed in the "Scale" segment of the Frankfurt Stock Exchange. 2021/2022 calendar dates November 18 Q3 key figures and business trends November 22-24 German Equity Forum (virtual) February 3 Pareto Securities' 24th annual Power & Renewable Energy Conference
IR contact 2G Energy AG Benzstrasse 3, 48619 Heek Phone: +49 (0) 2568 93 47-2795 Fax: +49 (0) 2568 93 47-15 Email: firstname.lastname@example.org Internet: www.2-g.de
2021-10-14 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Company: 2G Energy AG
Phone: +49 (0)2568-9347-0
Fax: +49 (0)2568-9347-15
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange
EQS News ID: 1240535
End of News DGAP News Service
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END) Dow Jones Newswires
October 14, 2021 02:30 ET ( 06:30 GMT)
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PRESS RELEASE: 2G Energy AG: Order intake up by around 70% to EUR 43.8 million in the third quarter (previous year: EUR 26.0 million)
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