30.04.2015
2G Energy AG DE000A0HL8N9
DGAP-News: 2G Energy AG: consolidated revenue of EUR 186.6 million in 2014 (previous year: EUR 126.1 million) at record level
DGAP-News: 2G Energy AG / Key word(s): Preliminary Results
2G Energy AG: consolidated revenue of EUR 186.6 million in 2014
(previous year: EUR 126.1 million) at record level
30.04.2015 / 07:30
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- EBIT raised from EUR 3.1 million to EUR 11.3 million
- 2015 forecast: revenue of EUR 140 - 160 million / EBIT margin of 5 - 7%
- 2G wins contract in the USA with an output of 3.2 MW
- Larger customers and international business with growing importance;
medium-term revenue goal of up to EUR 300 million, as before
Heek, April 30, 2015 - According to preliminary figures, 2G Energy AG (ISIN
DE000A0HL8N9), a leading German manufacturer of cogeneration (CHP) systems,
generated consolidated revenue of EUR 186.6 million in fiscal 2014
(previous year: EUR 126.1 million), marking the highest revenue in the
history of the company and exceeding the former record result of EUR 167.3
million achieved in fiscal 2011.
2G's total output stood at around EUR 189.6 million (previous year: EUR
137.5 million), representing an increase in the volume of work in progress
to EUR 2.9 million in 2014, up from EUR 11.3 million in the previous year.
According to the accounts prepared in accordance with the German Commercial
Code (HGB), the company generated significantly higher earnings before
interest and tax (EBIT) of around EUR 11.3 million (previous year: EUR 3.1
million). This figure corresponds to an EBIT margin of 6.1 % (previous
year: 2.5 %).
In the first seven months, fiscal 2014 was determined by advance ordering
for CHP systems in Germany owing to the amendment of the German Renewable
Energies Act (EEG), effective August 1, 2014. As a result, business in
Germany for CHP modules powered by biogas as well as natural gas was strong
in comparison with the international markets. The share of international
business in revenue, which stood at approximately 21 % (previous year: 22
%), remained virtually unchanged from the previous year, which is a clear
sign that the corporate strategy of diversification across different types
of gas and regions is being consistently and successfully implemented.
Revenue in the UK climbs to EUR 14.9 million, up from EUR 1.7 million
The UK proved to be the strongest international sales market in fiscal
2014. Local 2G Energy Ltd. lifted sales considerably to approximately EUR
14.9 million (previous year: EUR 1.7 million), representing a marked
increase and contributing a significant share of around 8 % to consolidated
revenue.
Against the backdrop of the company's strong development, 2G's production
capacities at company headquarters in Heek were fully utilized throughout
the year. Consolidated sales revenues break down as follows: 52 % of sales
were accounted for by 2G systems fueled by biogas and 48 % by natural gas.
International sales break down into 82 % of CHP systems fueled by biogas,
as opposed to business in Germany that was 60 % dominated by systems fueled
by natural gas. In fiscal 2014, 2G sold a total of 608 CHP units (previous
year: 445 CHP units) in Germany and abroad.
Orders on hand of EUR 42.3 million as of December 31, 2014 (2013: EUR 46.0
million) for CHP systems comprised work in progress and new installation
business of EUR 17.4 million (previous year: EUR 18.1 million).
Positive performance in the first half of 2015; orders on hand continue to
rise
2G reported satisfactory order intake in the first three months of the
current fiscal year 2015. As of March 31, 2015, orders on hand posted EUR
49 million. In a year-on-year comparison, this figure stood at a
considerably higher level of EUR 102 million. It is not, however,
comparable due to the impact of significant special items. For comparison
purposes, orders on hand on March 31, 2013 came in at EUR 46.5 million.
In the current year 2015, the Management Board is very confident about
being able to report another sound development in business. Conservative
planning puts revenue at between EUR 140 and 160 million, with an EBIT
margin of 5 to 7 %. Apart from an increase in revenue from the service
business, associated with replacement parts of some EUR 50 million (2014:
approximately EUR 38 million), the first positive stimulus from the rental
business initiated at the start of 2015 via 2G Rental GmbH is anticipated.
In addition, the importance of business with large industrial corporations
and energy suppliers is growing, alongside that of other international
markets. Following 2G's operational success in the UK, the company assumes
that revenue figures will rise on the back of diverse activities, in
particular in Asia and the USA, which is partly already reflected in the
current fiscal year, with momentum set to accelerate in the coming years.
New major order for 3.2 MW won in the USA
Business activities in the USA, for instance, were already developing well
in the first weeks following the full takeover of the shares in 2G Cenergy
Inc. Detailed offers were sent to customers for the manufacturing and
delivery of 2G power plants with an electrical output of 30 MW. A contract
for the delivery of two biogas-fired 2G plants with an overall output of
3.2 MW for a biogas plant on Rhode Island has been successfully signed
(delivery scheduled for October 2015). The Management Board therefore
intends to adhere to its goal in its medium-term planning of developing the
US market within a few years into the second-largest sales market in the
world after Germany. According to planning derived from the corporate
strategy, consolidated revenue of up to EUR 300 million and an EBIT margin
of up to 15 % are anticipated by the year 2020. The recently strengthened
management team of 2G Cenergy with Paul Glenister as CEO and Aaron Tasin as
Vice President of Sales underlines the company's US ambitions. In his last
assignment, Paul Glenister, who draws on 20 years of experience in
renewable energies and the waste management sector, was responsible for
2G's highly successful development of the UK market. Aaron Tasin held a
number of posts in the last 15 years, including at Capstone and GE
Jenbacher, and commands extensive knowledge of the North American market
and the cogeneration technology area.
2G will be publishing its audited and adopted consolidated financial
statements for 2014 and its annual report on May 28, 2015, as planned.
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
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:
IR contact
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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30.04.2015 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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