2G Energy AG — Earnings Release 2014

Sep 26, 2014

News Details

Corporate | 26 September 2014 07:28

2G Energy AG: 2014 sales-forecast raised, EBIT-margin confirmed

2G Energy AG / Key word(s): Preliminary Results/Half Year Results

26.09.2014 / 07:28

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Corporate News

2G Energy AG: 2014 sales-forecast raised, EBIT-margin confirmed

– H1 was shaped from heavy order inflow spurred by reform of the renewable energy act 2014

– Full results of heavy order inflow in terms of sales and earnings will come into effect in H2 2014

– H1 total output of 86.5 mio. Euro represents a record high level

– Forecast 2014: sales above 165 mio. Euro, EBIT-margin of 6 to 8 %

Heek, Germany, 26 September, 2014 – 2G Energy AG (ISIN DE000A0HL8N9), one of the leading German manufacturers of combined heat and power (CHP) plants, issues an advance announcement that it generated EUR 52.2 million of consolidated net sales during its first half financial year ending on June 30, 2014 (previous half year: EUR 41.9 million, a plus of 25 %). Overall, the business situation in the first half year was shaped by the reform of the renewable energy act (EEG) in Germany coming into effect as of 1 August, 2014. This triggered a time-critical production process of the CHP plant order backlog worth EUR 112.3 million including finished and unfinished goods as of 30 June, 2014. The total output – the sum of sales and rise in stocks of finished and unfinished goods – rose close to 80 % to EUR 86.5 million compared to the same balance sheet day the previous year. As of 30 June, 2014 the Company still generated a negative EBIT of EUR 0.5 million (H1 2013: minus EUR 2.1 million) due to saesonal and cut-off related effects. The high level of unfinished goods of EUR 58.8 million from the CHP plant production will only be fully realised in the 2G books on sales and earnings level acc. to the German Commercial Code (HGB) in the second half of the current business year when CHP plants will be finally invoiced to the customers. Therefore, 2G management raises its sales forecast for the full business year 2014 to above EUR 165 million (previous forecast was a range of between EUR 145 million to EUR 165 million) and confirms its expectation for the EBIT-margin of 6 to 8 %.

As planned, 2G will publish its full H1 consolidated financial statement and the condensed group management report as of 30 June, 2014 on 30 September, 2014.

2G Energy AG company profile

2G Energy AG is amongst the world’s leading manufacturer of cogeneration systems (CHP) for decentralized energy production and supply by means of combined heat and power. The company’s product portfolio includes systems with an electrical capacity between 20 kW and 4,000 kW for the operation with natural gas, biogas or bio methane. So far, 2G was able to successfully install thousands of CHPs in 25 countries. Especially, in the performance range of 50 kW to 550 kW 2G posses own technological combustion engine concepts characterized by low specific fuel consumptions. Next to the main production site at its headquarter in Heek, Germany, the company has invested in an additional production and sales & service site in St. Augustine, Florida, USA. 2G’s customers range from farmers to industrial clients, municipalities, real estate industry, up to municipal utilities and big utility companies. The high level of customer satisfaction is founded on the close-knit service network as well as the high technical quality and performance of 2G power stations. Thanks to the combined heat and power performance they achieve an overall degree of efficiency between 85 percent and well above 90 percent. To further enlarge the technologically leadership the company continuously invests in its R&D activities for gas engines for the use of natural gas, biogas and synthetic gases (e.g. hydrogen). Next to the construction of combined heat and power stations, the company, located in Westphalia in the north-west of Germany, offers integrated solutions reaching from the planning stage and installations to serial service and maintenance work. Due to its decentral locations, scalability and projectable availability combined heat and power stations shall play a crucial role as part of intelligent networked energy systems – so called virtual power stations – within the ongoing switch to clean energy.

In the context of Germany’s new energy policy, CHPs within smart grids – so-called virtual power plants – are becoming rapidly important due to their predictable availability. 2G Energy (ISIN DE000A0HL8N9) is listed in the Entry Standard of Deutsche Börse AG. The share capital amounts to EUR 4,430,000, and is split into 4,430,000 shares. As of December 31, 2013, the company’s founders held 55.9 % of the shares, with the free float amounting to 43.9 %. In 2013 financial year (January 1 to December 31), 2G Energy generated EUR 126.1 million of revenues, EUR 3.1 million of earnings before interest and tax (EBIT), and EUR 1.0 million of net income. The company employs 518 staff as of 31 Dec., 2013.

Forthcoming dates in 2014

Sept. 30, 2014 Publication of the half year consolidated financial statements as of June 30, 2014

Nov. 25-26, 2014 Deutsches Eigenkapitalforum 2014, Frankfurt

Further information: www.2-g.de

Investor relations contact

2G Energy AG

Benzstr. 3

48619 Heek

Germany

Telephone: +49 (0) 2568 93 47-2795

Fax: +49 (0) 2568 93 47-15

E-mail: ir@2-g.de

Internet: www.2-g.de

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Language:	English
Company:	2G Energy AG
	Benzstr. 3
	48619 Heek
	Germany
Phone:	+49 (0)2568-9347-0
Fax:	+49 (0)2568-9347-15
E-mail:	service@2-g.de
Internet:	www.2-g.de
ISIN:	DE000A0HL8N9
WKN:	A0HL8N
Listed:	Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in Open Market (Entry Standard)

End of News	DGAP News-Service

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