2G Energy AG
2G Energy AG increases total output in the first half year by 7.5 % to EUR 115.5 million
DGAP-News: 2G Energy AG
/ Key word(s): Half Year Results/Forecast
Thanks to protective measures introduced in a timely manner, production process in Heek were kept largely free of disruptions, enabling total output to be increased by 7.5% to EUR 115.5 million (H1 2019: EUR 107.4 million) as originally planned. Work in progress and finished goods were up accordingly by EUR 29.8 million (H1 2019: EUR 11.6 million). Service grows continuously Cost of materials ratio remains constant despite increased work-in-progress Personnel costs increased significantly to EUR 22.0 million in the past half year (H1 2019: EUR 19.3 million, +14.0%). In addition to very cautious capacity expansions, especially in the service area, the still very low unemployment rate at the company’s headquarters region plays a certain role, so that 2G is exposed to permanent pressure with regards to wage levels. Added to this are protective measures in connection with the Covid 19 pandemic, which have led to efficiency losses. With depreciation and amortization (EUR 1.8 million) and other operating expenses (EUR 10.0 million) remaining constant compared to the prior year, earnings before interest and taxes (EBIT) at the half year closing date stood at EUR 2.3 million (H1 2019: EUR 2.9 million), corresponding to an EBIT margin of 2.7% (H1 2019: 3.0%). Order situation developing positively in many markets Forecast confirmed 2G will publish the full half-year report on September 17.
2G benefits from global long-term trends that make efficient and effective energy solutions ever more important. These include rising energy demand accompanied at the same time by the need to conserve natural resources. 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 creates a high barrier to market entry for competitors. The cogeneration of electrical and thermal energy makes CHP technology more efficient and climate-compatible than conventional energy production methods, especially if, for example, hydrogen from regenerative sources is utilized as fuel. 2G power systems offset fluctuating electricity production from wind and solar power plants in line with demand, consequently forming a backbone technology for future supply concepts. 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 650 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 50 countries and generated sales of some EUR 236.0 million in the 2019 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. The share capital amounts to EUR 4,430,000 and is divided into 4,430,000 shares. As of June 30, 2020, company founders Christian Grotholt and Ludger Gausling held a 52.3 % interest in the company, with the free float amounting to 47.7 %.
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10.09.2020 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: | 1129637 |
End of News | DGAP News Service |