DGAP-News: 2G Energy AG / Key word(s): Development of Sales 2G Energy AG: H1 net sales up 25 % to EUR 106.9 million 2021-08-26 / 08:30 The issuer is solely responsible for the content of this announcement.

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Corporate News Heek, August 26, 2021

2G Energy AG: H1 net sales up 25 % to EUR 106.9 million

- Sales from new equipment business expand by 30 % to EUR 51.9 million (previous year: EUR 39.8 million)

- HJS Motoren GmbH fully consolidated for the first time, contributing EUR 4.1 million to service sales

- Service sales up 20 % to EUR 55.0 million (previous year: EUR 45.7 million)

- 2021 guidance confirmed

Heek, August 26, 2021 - 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas driven combined heat and power (CHP) systems, lifted its net sales by EUR 21.3 million in the first half of 2021 to EUR 106.9 million. HJS Motoren GmbH, which was fully consolidated for the first time, contributed EUR 4.1 million to (service) sales.

In terms of total sales, business abroad was up by EUR 5.2 million, or 17 %, thereby contributing 34 % to consolidated sales. 


2G - Total               H1 2021      H1 2020       Change 
                       in MEUR in % in MEUR in % in MEUR in % 
Germany                   70.9  66%    54.8  64%    16.1   29% 
Rest of Europe            22.7  21%    16.7  20%       6   36% 
North/Central America      4.3   4%    11.3  13%      -7  -62% 
Asia/Australia             5.9   6%     0.5   1%     5.4 1080% 
Rest of the world          3.2   3%     2.3   3%     0.9   39% 
Total*                   106.9 100%    85.6 100%    21.3   25%

* Rounding differences arise.

"Even without the contribution from HJS Motoren GmbH, which was consolidated for the first time as of the end of the first half of the year, we have concluded the first half of the year with figures in excess of EUR 100 million for the first time, which was only possible due to redoubled efforts to address the distortions in procurement markets with which we have been struggling for some weeks now," explains CFO Friedrich Pehle. "While these dislocations will continue to accompany us, they do not jeopardize our production targets for the year."

Strong growth in new equipment business

The main growth driver in the past half-year was the business with new CHP systems, which increased by EUR 12.1 million year-on-year to EUR 51.9 million.

"The rapid growth in sales of new CHP systems, many of which are already H2-ready, is encouraging," notes CEO Christian Grotholt. "Our hydrogen expertise is increasingly becoming the backbone technology of the energy revolution, as H2-ready CHPs from 2G complement fluctuating supplies of wind and solar power with potentially completely emission-free base load capacities. Given the significant increase in coal-fired power generation in Germany since the start of the year, this development is certainly as urgent as it is sustainable." 


CHP systems               H1 2021       H1 2020        Change 
                       in MEUR in %  in MEUR in %  in MEUR  in % 
Germany                   31.5  61 %    23.2  58 %     8.3   36 % 
Rest of Europe            12.8  25 %     8.4  21 %     4.4   52 % 
North/Central America      1.6   3 %     8.0  20 %    -6.4  -80 % 
Asia/Australia             4.8   9 %     0.0   0 %     4.8      - 
Rest of the world          1.3   3 %     0.3   1 %     1.0  333 % 
Total*                    51.9 100 %    39.8 100 %    12.1 + 30 %

* Rounding differences arise.

Excluding the effect of the first-time full consolidation of the contribution from HJS-Motoren GmbH, sales in the service business grew by 11 % as planned. Including sales from HJS-Motoren GmbH, the Service segment achieved sales of EUR55.0 million, exceeding the previous year's figure by 20%. 


Service                   H1 2021       H1 2020        Change 
                       in MEUR in %  in MEUR in %  in MEUR  in % 
Germany                   39.4  72 %    31.6  69 %     7.8   25 % 
Rest of Europe             9.9  18 %     8.3  18 %     1.6   19 % 
North/Central America      2.7   5 %     3.3   7 %    -0.6  -18 % 
Asia/Australia             1.1   2 %     0.5   1 %     0.6  120 % 
Rest of the world          1.9   4 %     2.0   4 %    -0.1   -5 % 
Total                     55.0 100 %    45.7 100 %     9.3 + 20 %

2021 guidance For the current financial year, 2G continues to expect net sales in a range between EUR 250 million and EUR 260 million with an EBIT margin of 6.0 to 7.5 %.

2G company portrait 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.

2021 calendar dates September 6 H1 key figures and business trends September 6-7 EF Autumn Conference (virtual) September 9 Consolidated financial statements as of June 30, 2021 September 23 Virtual company presentation, SdK November 18 Q3 key figures and business trends November 22-24 German Equity Forum (virtual)

IR contact 2G Energy AG Benzstrasse 3, 48619 Heek Phone: +49 (0) 2568 93 47-2795 Fax: +49 (0) 2568 93 47-15 Email: ir@2-g.de Internet: www.2-g.de

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2021-08-26 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.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 
Indices:      Scale 30 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange 
EQS News ID:  1228901 
 
End of News   DGAP News Service 
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1228901 2021-08-26

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August 26, 2021 02:30 ET (06:30 GMT)