25.01.2024 2G Energy AG  DE000A0HL8N9

EQS-News: 2G Energy AG raises net sales guidance for 2025 to up to EUR 450 million (previously EUR 390 million to EUR 430 million)


 

EQS-News: 2G Energy AG / Key word(s): Incoming Orders/Change in Forecast
2G Energy AG raises net sales guidance for 2025 to up to EUR 450 million (previously EUR 390 million to EUR 430 million)

25.01.2024 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


2G Energy AG raises net sales guidance for 2025 to up to EUR 450 million (previously EUR 390 million to EUR 430 million)

  • New order intake +28% in Q4 2023 (EUR 47.5 million, previous year: EUR 37.1 million)
  • 2G acquires projects in Asia, Australia and South and Central America 
  • European and US markets gradually overcoming prevailing uncertainty
  • Confirmation of previous guidance for 2024 for net sales (up to EUR 390 million) and EBIT (8.5-10.0%)

Heek, January 25, 2024 – 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas driven combined heat and power (CHP) systems, acquired a total of EUR 47.5 million of new orders in the past fourth quarter 2023 (previous year: EUR 37.1 million). The turnaround in new order intake that has been apparent since the middle of the year was confirmed in the fourth quarter with 28% growth in new order intake.

2G acquires projects in Asia, Australia, and South and Central America

Sales regions outside the traditional EU and G7 markets made a significant contribution to the new order intake growth. These sales successes in Q4 2023 are characterized by broad geographical diversification combined with technological diversification. Customers from seven countries in the Indo-Pacific region ordered CHP systems and engines powered by natural gas, biogas, wood gas, gas from purification plants, as well as hydrogen and propane. 

“The course of 2023 and especially the fourth quarter impressively confirm our strategy,” comments CEO Christian Grotholt. “With the help of our partner concept, we have not only emancipated ourselves from our home market in Germany, but we are also now expanding our sales spectrum well beyond G7 markets. For this reason, we will expand the 2G Energy International sales organization, which we founded two years ago, into a fully-fledged sales and service company over the next 18 months.”

The composition of new order intake in the past quarter is as follows:

  Q4 2023 Q4 2022 Change
  EUR m in% EUR m in % EUR m in %
Germany 21.1 44% 20.5 55% 0.6 3%
Rest of Europe 9.5 20% 11.4 31% -1.9 -17%
North America 1.3 3% 2.0 5% -0.7  -35%
Asia/Australia 10.0 21% 1.6       5% 8.4       >100%
Rest of the world 5.6 12% 1.5 4% 4.1 >100%
Total 47.5 100% 37.1 100% 10.4 28%

European and US markets gradually overcoming prevailing uncertainty

The start of 2024 also underlines the sustainability of the upturn, although the uncertain economic outlook in many European Union countries, and particularly in Germany, is only gradually being overcome. Driven by European markets and the US market, new order intake in January will also be significantly higher than in the same month last year. The application of the Inflation Reduction Act (IRA) in the USA has made the sales process in 2023 much more complex. The delays arising from the IRA, mostly due to tax optimization efforts by customers, will discontinue over the course of 2024, so that the US market will emerge from its lethargy.

Confirmation of previous guidance for 2024 for net sales (up to EUR 390 million) and EBIT (8.5-10.0%)

Satisfactory new order intake in the fourth quarter of 2023 in conjunction with the high order book position at the start of the quarter further secures the growth trajectory.

As far as the EBIT margin is concerned, the Management Board assumes that the relationship between higher purchase prices on the one hand and the company’s own subsequent list price adjustments on the other will continue to normalize, which will exert a direct positive impact on the cost of materials ratio. This effect, combined with the higher level of net sales and better capacity utilization in indirect areas such as purchasing, accounting and R&D, will once again lead to tangible earnings improvements.       

Net sales guidance for 2025 raised to up to EUR 450 million (previously EUR 390 million to EUR 430 million)

As mentioned, 2G is currently experiencing an upturn in new order intake from many regions of the world. For a number of reasons, however, the company’s home market in Germany is currently making only a minor contribution to this upturn.

With a look to 2024, the Management Board expects the German market to recover and in turn drive growth. Permanently high electricity prices and the continued absence of a gas shortage, which has led to gas prices returning to normal, make 2G CHP systems highly profitable investments, which – especially as 2G engines can be converted to run on hydrogen at any time – are also attractive for investors who believe in the success of the German energy transition.

The Management Board expects the upturn in new order intake to stabilize over the course of 2024 and thereby enable accelerated net sales growth in 2025. As a consequence, the net sales guidance for 2025 is being raised to up to EUR 450 million (previously EUR 390 million to EUR 430 million). Heat pumps will already be included in the regular price list in 2024, although larger volumes will probably not be delivered until municipal heating planning in major German municipalities has been completed, in other words, from 2026 onwards. 



2G company portrait
The 2G Energy AG Group is an internationally leading manufacturer and system provider of decentralized energy supply systems. The company develops, produces and installs comprehensive solutions in the growing market for highly efficient CHPs and large heat pumps. Digital grid integration and plant control for both types of energy generators, as well as service and maintenance, are further decisive performance criteria.

The product portfolio includes CHP plants in the output range from 20 kW to 4,500 kW for operation with hydrogen, natural gas, biogas and other lean gases, as well as large heat pumps in the range from 100 kW to 1,000 kW. CHP plants operate with efficiencies of 90 percent and more, while large heat pumps achieve efficiencies of 300 to 500 percent, depending on the general conditions. With its products and services, 2G is at the interface to a decentralized, secure and largely decarbonized energy supply. More than 8,000 2G systems have already been installed worldwide in various applications, supplying electrical and thermal energy to a wide range of customers from the housing industry, agriculture, commercial and industrial companies, energy suppliers, municipal utilities and local government authorities.

2G is positioned worldwide as a system provider for decentralized energy solutions with its combination of CHP plants and large heat pumps. The company benefits from far-reaching synergies of both plant categories, ranging from project development, procurement, and production to the largely identical customer base and regulatory framework as well as sales channels and digital control and service.

2G is consistently expanding its technological leadership through continuous research and development work, both in power plant and pump technologies as well as in specific software development for service and maintenance activities. The digital grid integration consistently implemented by 2G is an indispensable, system-relevant element in the future electricity market design and represents a high market entry hurdle for competitors. The sector coupling required for the success of the energy transition is reflected in 2G's portfolio.

2G employs more than 900 employees 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 312.6 million in the 2022 financial year. 2G was founded in 1995 and has been listed on the capital market since 2007. The shares of 2G Energy (ISIN DE000A0HL8N9) are listed in the “Scale” segment of the Frankfurt Stock Exchange.

2024 calendar dates
February 29     Announcement of preliminary Net Sales 2023
April 11             Preliminary results for FY 2023, 2024 guidance
April 18            Consolidated financial statements for FY 2023
May 13-14       Spring Conference, Frankfurt
May 23            Q1 key figures and business trends
June 4             Ordinary AGM, Ahaus/Germany
September 5         Consolidated financial statements for H1 2024
November 25        Q3 key figures and business trends
November 25-27  German Equity Forum, Frankfurt

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

 



25.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - 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
EQS News ID: 1822519

 
End of News EQS News Service

1822519  25.01.2024 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 189,40 209,78 236,40 246,73 266,35 312,63 365,07
EBITDA1,2 11,12 15,37 19,17 20,11 21,87 26,63 34,30
EBITDA-Marge3 5,87 7,33 8,11 8,15 8,21 8,52
EBIT1,4 7,33 11,45 15,45 16,45 17,93 21,96 27,64
EBIT-Marge5 3,87 5,46 6,54 6,67 6,73 7,02 7,57
Jahresüberschuss1 4,92 7,61 10,30 11,96 12,64 16,37 17,99
Netto-Marge6 2,60 3,63 4,36 4,85 4,75 5,24 4,93
Cashflow1,7 12,85 4,88 1,92 9,79 8,86 4,98 11,72
Ergebnis je Aktie8 0,28 0,43 0,58 0,68 0,71 0,91 1,00
Dividende8 0,11 0,11 0,11 0,11 0,12 0,14 0,10
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
©boersengefluester.de
2G Energy
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0HL8N 23,400 Kaufen 419,80
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
16,71 23,22 0,73 36,74
KBV KCV KUV EV/EBITDA
3,47 35,81 1,15 12,12
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,14 0,17 0,73 04.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
23.05.2024 05.09.2024 25.11.2024 18.04.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-4,15% 0,41% 3,08% -17,02%
    
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