26.04.2018
2G Energy AG DE000A0HL8N9
DGAP-News: 2G Energy AG: Successful FY 2017 and positive outlook for 2018
DGAP-News: 2G Energy AG / Key word(s): Final Results/Forecast
2G Energy AG: Successful FY 2017 and positive outlook for 2018
26.04.2018 / 08:30
The issuer is solely responsible for the content of this announcement.
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* Net sales of EUR 189.4 million at new record level
* EBIT margin improved to 3.9 % (previous year: 3.2 %), consolidated net
profit of EUR 4.9 million (previous year: EUR 1.8 million)
* 2018 Q1 new order intake up 90.4 % year-on-year
* Guidance for 2018: Further constant growth in sales and earnings
expected
Heek, April 26, 2018 - 2G Energy AG (ISIN DE000A0HL8N9), one of the
internationally leading manufacturers of gas driven combined heat and power
(CHP) systems, reports EUR 189.4 million of net sales in the 2017 financial
year elapsed (previous year: EUR 174.3 million), representing 8.7 % sales
growth and exceeding the previous record from 2014. Earnings before interest
and tax (EBIT) improved by 29.8 % to EUR 7.3 million (previous year: EUR 5.6
million), corresponding to a 3.9 % EBIT margin. "We achieved further growth
in the past financial year and took important steps to enhance efficiency
and to smooth seasonal effects," is how Christian Grotholt, CEO of 2G Energy
AG, expresses his satisfaction with business progress. "We will continue to
implement our Lead to Lean project as well as our internationalisation and
digitalisation in 2018. We are certain we are thereby laying a promising
foundation for our company's future growth and development."
Strong foreign business - high demand for biogas driven systems abroad
Especially strong foreign business proved a key driver of the positive
business trend. 2G generated 35.2 % of its net sales abroad (previous year:
30.3 %), reflecting high demand from the USA, the UK, France and Japan. In
terms of net sales generated from selling CHP systems, this dynamic is even
clearer: A total of 42.1 % of net sales in this business area were generated
abroad (previous year: 33.5 %) - representing a growth leap of 33.9 % in
absolute figures. Services as well as replacement parts sales also performed
well. Net sales from this business area grew by an above-average rate of
12.8 % to reach EUR 64.5 million (previous year: EUR 57.1 million).
Shorter throughput times lead to reduction in work in progress
Thanks to improved project management, a high proportion of CHP projects
were finally invoiced and recognised as revenue as of the year-end. In
addition, purchased services decreased from EUR 28.4 million to EUR 26.1
million due to a reduced level of general contractor activities. The cost of
materials ratio thereby diminished by around 3.5 percentage points to 66.6 %
(previous year: 70.1 %). The hiring of service personnel in Germany as well
as the first-time consolidation of 2G Energie SAS led personnel costs to
rise to EUR 32.7 million (previous year: EUR 30.0 million), representing a
17.2 % personnel cost ratio (previous year: 16.3 %). Legal and consultancy
costs connected with the Lead to Lean project as well as tax advisory
expenses in the context of the internationalisation and higher costs for
outgoing freight as well as sales commissions reflecting the strong foreign
business raised other operating expenses to EUR 21.0 million (previous year:
EUR 18.9 million). In sum, consolidated net profit improved to EUR 4.9
million (previous year: EUR 1.8 million).
Very brisk new order intake, further corporate growth expected in 2018
2G achieved EUR 54.7 million of new order intake in the first quarter of
2018 (previous year: EUR 28.7 million), representing a marked increase of
90.4 % compared with the corresponding prior-year period. Order books are
very well filled thanks to this strong growth - the order book position as
of the end of the first quarter amounted to around EUR 130.5 million
(previous year: EUR 106.0 million) - prompting the Management Board to be
confident that the positive trend in the 2017 financial year can be
continued. Specifically, this means that net sales in a range between EUR
180 million and EUR 210 million are expected for 2018. Given efficiency
measures already introduced in 2017 and further margin increases in the
service business, the EBIT margin is expected to improve sustainably and to
be within a range of 3.5 to 5.5 %.
As planned, 2G will publish its audited consolidated financial statements
and 2017 annual report on May 18, 2018.
2G company portrait
2G Energy AG is an internationally leading full-service provider of combined
heat and power systems (CHP) with electric output between 20 kW and 2,000
kW, which are harnessed for the decentralised generation and supply of
electricity and heating. Deploying its many years of experience, expertise
and technological know-how, the innovative CHP technology of 2G is always
translated into industrial progress. 2G is consistently expanding its
technology leadership through continuous research and development work, both
in gas engine technology for natural gas, biogas and synthetic gas
applications (e.g. hydrogen), as well as in specific software development.
In particular, this product range, which is based on thousands of systems
realised, significantly differentiates 2G from its competitors.
2G benefits from global long-term trends that make efficient and effective
energy solutions ever more important. These trends include not only rising
energy demand but also the need to conserve natural resources. Moreover, in
the energy revolution's future electricity market design, the digitalisation
consistently implemented by 2G forms an indispensable system-relevant
element in combination with solar, wind, biogas and natural gas producers,
and creates a high barrier to market entry for competitors.
The cogeneration of mechanical energy and heating/cooling make CHP
technology more efficient and more environmentally-compatible than
conventional energy production methods. Compared with conventional
electricity generation, CHP technology saves up to 40 percent of primary
energy, and emits up to 60 percent less carbon dioxide and nitrogen oxide.
2G customers thereby benefit consistently from economically and ecologically
highly beneficial innovations that rapidly pay for themselves and create
extensive added values.
2G employs around 600 staff at its headquarters in Heek, Germany, in St.
Augustine, USA, as well as at five other European locations. The company is
active in a total of 31 countries and generated net sales of EUR 189.4
million in the 2017 financial year. 2G was founded in 1995 and has been
listed on the stock market since 2007.
The shares of 2G Energy (ISIN DE000A0HL8N9) have been listed in the "Scale"
segment of the Frankfurt Stock Exchange since March 1, 2017, having
previously been listed in the "Entry Standard" segment. The share capital
amounts to EUR 4,430,000, and is divided into 4,430,000 shares. As of April
2018, company founders Christian Grotholt and Ludger Gausling held a 53.3 %
interest in the company, with the free float amounting to 46.7 %.
2018 calendar dates
May 18, 2018 Publication of the consolidated financial statements for the
financial year ending December 31, 2017
May 30, 2018 Q1 key figures and business trends
June 7, 2018 Quirin Champions, Frankfurt
July 4, 2018 Ordinary AGM, Ahaus
September 27, 2018 Consolidated half-year financial statements as of June
30, 2018
November 26, 2018 Q3 key figures and business trends
November 26-27, 2018 Germany Equity Capital Forum 2018
December 4-5, 2018 Midcap Event, Geneva
IR contact
2G Energy AG
Benzstrasse 3, 48619 Heek
Telephone: +49 (0) 2568 93 47-2795
Fax: +49 (0) 2568 93 47-15
Email: [email protected]
Internet: www.2-g.com
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26.04.2018 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
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Scale), Stuttgart, Tradegate Exchange
End of News DGAP News Service
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679237 26.04.2018
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