2G Energy AG lifts total operating revenue to EUR 63.9 million in Q2
DGAP-News: 2G Energy AG
/ Key word(s): Half Year Results
2G Energy AG lifts total operating revenue to EUR 63.9 million in Q2 - H1 net sales increase to EUR 106.9 million (H1 2020: EUR 85.6 million); H1 total operating revenue amounts to EUR 111.5 million (H1 2020: EUR 115.5 million) - EBIT at previous year's level of EUR 2.3 million - Inventories significantly expanded to safeguard production (+29%), liquidity nevertheless increased Heek, September 6, 2021 - 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas driven combined heat and power (CHP) systems, boosted its net sales by EUR 21.3 million to EUR 106.9 million in the first half of 2021 (+24.9 %), as already reported in the corporate news release of August 26. HJS Motoren GmbH (HJS), which was fully consolidated for the first time, contributed EUR 4.1 million to this sales growth. Coronavirus and bottlenecks on the procurement side characterize first half of the year Costs of materials ratio falls, personal expense ratio rises Personnel expenses were up by EUR 3.2 million (+14.5 %) to EUR 25.1 million. Of this, EUR 1.1 million is accounted for by HJS employees, while around EUR 1.0 million is related to the aforementioned replacement of external labor with in-house staff. The remaining additional costs are distributed over additional sales and service personnel at various Group companies. Other operating expenses rose by EUR 1.2 million to EUR 11.2 million. Increased commission and sales expenses due to the very sharp rise in sales accounted for EUR 0.5 million, working from home offices and other measures in the hardware and software area required additional expenditure of EUR 0.3 million, and HJS contributed EUR 0.4 million to the absolute increase in costs. EBIT at prior-year level, 2021 forecast confirmed Strong operating cash flow and capital increase lead to strong rise in liquidity 2G will publish the full half-year report next Thursday, September 9. New order intake remains brisk
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 natural gas, biogas, as well as other lean gases and hydrogen. Worldwide, more than 6,500 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 natural gas, hydrogen 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.
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06.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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 |
Indices: | Scale 30 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange |
EQS News ID: | 1231287 |
End of News | DGAP News Service |
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1231287 06.09.2021