23.04.2015
2G Energy AG DE000A0HL8N9
DGAP-News: 2G Energy AG: 2G Energy AG creates preconditions for sustainable growth in US business
DGAP-News: 2G Energy AG / Key word(s): Investment/Strategic Company
Decision
2G Energy AG: 2G Energy AG creates preconditions for sustainable
growth in US business
23.04.2015 / 13:40
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Corporate News from 2G Energy AG 4/23/2015
2G Energy AG creates preconditions for sustainable growth in US business
- New management team installed after topping up interest in 2G Cenergy
Inc., Florida, to 100 %
- Sales team expanded to include specialists with sector and product
experience
- 2G expects significant medium-term revenue and earnings contributions
from US business
Heek, April 23, 2015 - 2G Energy AG (ISIN DE000A0HL8N9), one of the leading
German manufacturers of combined heat and power (CHP) systems, has taken
subsequent steps to strengthen its positioning on the US market having
recently increased its interest in 2G Cenergy Power Systems Technologies
Inc., St. Augustine, Florida, (2G Cenergy Inc.), to 100 %. 2G has installed
a new management team at 2G Cenergy Inc., thereby also realizing a final
separation from previous shareholders and managing directors Philipp C.
Turwitt and Michael J. Turwitt. The Management Board has launched various
measures to return to the originally targeted growth path on the American
market. Finalized results are not yet available, but revenue in the US
business in 2014 fell short of expectations, while 2G Energy AG achieved
strong revenue and earnings growth within the Group. Preliminary results
relating to consolidated revenue, consolidated total operating revenue and
the consolidated net result, as well as the outlook for the 2015 fiscal
year, will be announced on April 30.
The Management Board of 2G Energy AG continues to assume that the North
American market will develop into the largest international sales market
for CHP systems outside Germany in the medium term. The company is
represented in the USA through its service and sales company 2G Cenergy
Inc. (since 2009), and its production subsidiary 2G Manufacturing Inc.
(since 2012) accordingly. Now that 2G Cenergy Inc. has become a
wholly-owned subsidiary of the 2G Group, synergies will be leveraged -
including the consolidation of warehousing and administration, and a
restructuring of the legal relationships between the entities - and the
sales team will be strengthened considerably in personnel terms. 2G has
already recruited an American sales professional with sector and product
experience who has been active for 2G on the market since mid-April. The
reorganization of the sales function, structures and the business strategy
in the USA is also being closely supervised locally by 2G's Management
Board.
2G acquired a 51 % interest in 2G Cenergy Inc. for around EUR 950 thousand
in February 2015. The purchase price was negotiated on the basis of an
equity-oriented evaluation, plus a reasonable level of goodwill. Goodwill
was based on the extent to which the company has already tapped the market
to date, with an installed base of around 100 systems on the American
market. 2G Cenergy Inc. is to be consolidated within the Group for the
first time as of June 30, 2015, with detailed information about the US
activities been provided in the half-year report accordingly.
The market potential of the US business is considerable and derives from
many different factors such as significant catchup effects in relation to
climate and environmental topics, infrastructure modernization, the desire
for supply security during weather extremes via microgrids and district
energy, and general further demand growth for decentralized energy
supplies.
2G Energy AG short company portrait
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 and other lean gases. So far, 2G
was able to successfully install thousands of CHPs in 35 countries.
Especially, in the performance range of 50 kW to 550 kW 2G possesses own
technological combustion engine concepts characterized by low specific fuel
consumptions, a high operational availability and optimized service
intervals. 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 and within modern concepts of energy supply.
2G Energy (ISIN DE000A0HL8N9) is listed in the Entry Standard of Deutsche
Börse AG, Frankfurt. It's shares are traded on XETRA as well as in the OTC
markets of Frankfurt, Düsseldorf and Stuttgart exchanges. The share capital
amounts to EUR 4,430,000, and is split into 4,430,000 shares. As of
December 31, 2014, the company's founders held 56.1 % of the shares, with
the free float amounting to 43.9 %.
Forthcoming dates 2015
30 April, 2015 Publication of preliminary group figures 2014, forecast
2015
19 May, 2015 WGZ Bank Small&MidCap Conference, Düsseldorf
28 May, 2015 Q1 key financial figures & business development
28 May, 2015 Group financial figures as of 31 Dec., 2014
8 July, 2015 Ordinary Annual General Meeting, Ahaus, Germany
29 Sept., 2015 Half year group financial figures as of 30 June, 2015
23-25 Nov., 2015 Deutsches Eigenkapitalforum, Frankfurt
End of Nov., 2015 Q3 key financial figures & business development
Further information: www.2-g.de
IR Kontakt:
2G Energy AG
Investor Relations
Benzstraße 3
48619 Heek
Telefon: +49 2568 9347-2795
Telefax: +49 2568 9347-15
E-Mail: [email protected]
www.2-g.de
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23.04.2015 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.
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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: [email protected]
Internet: www.2-g.de
ISIN: DE000A0HL8N9
WKN: A0HL8N
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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