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25.04.2016 08:09:01
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DGAP-News: 2G Energy AG
DGAP-News: 2G Energy AG with solid annual result in transition year 2015.
- UK and US subsidiaries with EUR 13.3 million and EUR 12.8 million of revenue respectively exemplify growing international business share
- FY 2016 outlook: Revenue of EUR 150-170 million, EBIT margin of 3 - 5 %
2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading producers of gas driven combined heat and power (CHP) systems, reports preliminary FY 2015 consolidated figures well within its target range following a fourth quarter of 2015 that delivered on its anticipated dynamic business growth. At the time of publishing H1 2015 consolidated financial statements at the end of September, the Management Board adjusted its earnings forecast to low, positive EBIT, and communicated a EUR 140 million to EUR 160 million revenue range.
While 2G generated EUR 84.3 million of revenue during the first three quarters of the year, revenue subsequently expanded to reach EUR 152.9 million by the year-end. 2G thereby realized around 45 % of its revenue between October and December, reflecting normal seasonality. The result before interest and tax (EBIT) consequently registered a fourth-quarter improvement from EUR -1.1 million as of September 30, 2015 to achieve a full-year total of EUR 4.8 million. The Group is thereby reporting solid consolidated results for a transition year between amendments to the 2014 German Renewable Energies Act (EEG) and 2016 German Cogeneration Act (KWK-G), which resulted in significant fluctuations in CHP orders on the German market. With its service business having expanded its revenue share to 34 %, and given the Group's further internationalization, 2G is consequently also underscoring the successful implementation of its strategy of expanding its independence of individual markets and regulatory requirements.
Foreign markets' revenue share rises to 27 %
On the basis of sales cooperation ventures, 2G has strengthened its positioning on important foreign markets such as France, the United Kingdom, and in the Asian region, and is also continuing to experience very positive feedback on its subsidiaries' activities. International revenues' share of total Group revenue amounted to 27.0 % in 2015 (previous year: 21.0 %), and with CHP system sales the export share was even as high as 35.3 % (previous year: 27.7 %).
Among foreign markets, the United Kingdom proved to be an attractive sales market again in the 2015 financial year, with the Group's UK subsidiary 2G Energy Ltd. generating EUR 13.3 million of revenue (previous year: EUR 14.9 million). The company's US subsidiaries 2G Energy Inc. and 2G Cenergy Inc. - which are now combined operationally - also made an important revenue contribution of EUR 12.8 million. In analyzing the US business, a direct comparison with the previous year's EUR 6.3 million is not possible, as 2G Cenergy Inc. was not yet fully consolidated in the 2014 financial statements.
In terms of gas types, 47.5 % (previous year: 52.1 %) of Groupwide sales revenues were attributable to biogas operated 2G systems, and 52.5 % (previous year: 47.9 %) to Natural Gas operated systems. Revenues generated in Germany and abroad continue to present two contrasting pictures: while 85.2 % (previous year: 83.2 %) of CHP system revenues abroad derive from biogas operated CHP systems, the business in Germany continued to be dominated by natural gas operated systems with a 73.1 % revenue share (previous year: 59.9 %).
With a look to the current 2016 financial year, growth is expected in terms of both revenue and EBIT compared with 2015. The high order book position that 2G has carried forward into the current financial year forms a good starting basis for this. 2G registered in Q4 2015 new order intake that was significantly above the previous year's levels. As of December 31, 2015, the company reported an order book position of EUR 85.5 million (previous year: EUR 42.3 million), with the sum of orders included in the order book position, but not yet having been started, amounting to EUR 52.0 million (previous year: EUR 17.4 million). Of the total order book position, 41 % (previous year: 26 %) derives from abroad, which the company appraises as a positive signal given its internationalization strategy.
Somewhat quiet ordering patterns during the course the first quarter 2016 reflect the fact that a number of the orders received at the end of 2015 derive from the utilization of option rights granted before the amended German Cogeneration Act came into force as of January 1, 2016. New order intake during the first quarter 2016 consequently stood at EUR 13.3 million (previous year: EUR 18.7 million). New orders received and finally invoiced orders approximately offset each other during the first quarter of 2016, so that the order book position as of March 31, 2016 remains at a high level of EUR 86.9 million (previous year: EUR 49.0 million).
Based on this sound order book position, continuous business expansion abroad and further revenue growth from the service business, the Management Board assumes that the Group will generate sales revenue in a range between EUR 150 million and EUR 170 million in the current 2016 financial year, and widen the EBIT margin to between 3.0 % and 5.0 %. The discontinuation of special effects that burdened 2015 results (covered in detail in the 2015 Annual Report) supports this expected positive trend, with a year-on-year improvement in results being anticipated accordingly.
2G will publish its audited consolidated financial statements and its annual report on May 25, 2016.
2G Energy company portrait 2G Energy AG ranks among the world's leading manufacturers of cogeneration (CHP) systems for decentralised energy production and supply by means of combined heat and power. The company's product portfolio includes systems with an electric capacity between 20 kW and 4,000 kW for operation with natural gas, biogas, biomethane and other lean gases. 2G has successfully installed several thousand CHP systems in 35 countries to date. Especially in the 50 kW to 550 kW performance range, 2G possesses proprietary technological combustion engine concepts characterised by low specific fuel consumptions, high operational availability and optimised service intervals. Besides the main production site at the Group headquarters 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 agricultural and industrial operations, local authorities, and the residential sector through to municipal utilities and large-scale utilities. The high level of customer satisfaction is founded on a dense service network as well as 2G power stations' high technical quality and performance. These power stations achieve an overall degree of efficiency from 85 percent and to well above 90 percent thanks to combined heat and power performance. Along with the construction of combined heat and power stations, the company, located in Westphalia in the north-west of Germany, offers integrated solutions spanning the planning stage and installation through to service and maintenance work. In the context of the energy policy revolution, and as part of modern energy supply concepts, CHP systems are gaining considerably in importance in intelligent energy grid systems - so-called virtual power plants - due to their decentralised and scalable operation, and predictable availability.
2G is consistently expanding its technology leadership through continuous research and development work, both in gas engine technology for natural gas, biogas and synthetic gas applications (e.g. hydrogen), as well as in specific software development. The "virtual power plant" operating type has been created with a software solution, for example. Overall, the 2G system is thereby operated on a basis that is "heating-managed and electricity-oriented" in order to significantly simplify integration within a grid group. In the energy policy revolution's future electricity market design, such digitalisation-enabled flexibility 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 shares of 2G Energy (ISIN DE000A0HL8N9) have been listed in the Entry Standard of Deutsche Börse AG since July 31, 2007. The share capital amounts to EUR 4,430,000, and is divided into 4,430,000 shares. The company's founders held 55.3 % of the shares as of December 31 2015, with the free float amounting to 44.7 %.
2016 dates
May 25, 2016 Annual consolidated financial statements as of December 31, 2015, Q1 key figures and business trends July 5, 2016 Ordinary AGM, Ahaus Sept. 27, 2016 Semiannual consolidated financial statements as of June 30, 2016 Nov. 21-23, 2016 German Equity Capital Forum 2016 Nov. 30, 2016 Q3 key figures and business trends
Further information: www.2-g.de
Contact 2G Energy AG Benzstraße 3 48619 Heek Telephone: +49 2568 9347-2795 Telefax: +49 2568 9347-15 E-Mail: ir@2-g.de Internet: www.2-g.de
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25.04.2016 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. Media archive at www.dgap-medientreff.de and 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 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
457099 25.04.2016
DGAP-News: 2G Energy AG / Key word(s): Preliminary Results/Forecast
2G Energy AG with solid annual result in transition year 2015.
25.04.2016 / 08:09
The issuer is solely responsible for the content of this announcement.
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- Preliminary FY 2015 revenue of EUR 152.9 million securely within
forecasted range
- Positive results with EUR 4.8 million of EBIT and 3.1 % EBIT margin
- UK and US subsidiaries with EUR 13.3 million and EUR 12.8 million of revenue respectively exemplify growing international business share
- FY 2016 outlook: Revenue of EUR 150-170 million, EBIT margin of 3 - 5 %
2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading producers of gas driven combined heat and power (CHP) systems, reports preliminary FY 2015 consolidated figures well within its target range following a fourth quarter of 2015 that delivered on its anticipated dynamic business growth. At the time of publishing H1 2015 consolidated financial statements at the end of September, the Management Board adjusted its earnings forecast to low, positive EBIT, and communicated a EUR 140 million to EUR 160 million revenue range.
While 2G generated EUR 84.3 million of revenue during the first three quarters of the year, revenue subsequently expanded to reach EUR 152.9 million by the year-end. 2G thereby realized around 45 % of its revenue between October and December, reflecting normal seasonality. The result before interest and tax (EBIT) consequently registered a fourth-quarter improvement from EUR -1.1 million as of September 30, 2015 to achieve a full-year total of EUR 4.8 million. The Group is thereby reporting solid consolidated results for a transition year between amendments to the 2014 German Renewable Energies Act (EEG) and 2016 German Cogeneration Act (KWK-G), which resulted in significant fluctuations in CHP orders on the German market. With its service business having expanded its revenue share to 34 %, and given the Group's further internationalization, 2G is consequently also underscoring the successful implementation of its strategy of expanding its independence of individual markets and regulatory requirements.
Foreign markets' revenue share rises to 27 %
On the basis of sales cooperation ventures, 2G has strengthened its positioning on important foreign markets such as France, the United Kingdom, and in the Asian region, and is also continuing to experience very positive feedback on its subsidiaries' activities. International revenues' share of total Group revenue amounted to 27.0 % in 2015 (previous year: 21.0 %), and with CHP system sales the export share was even as high as 35.3 % (previous year: 27.7 %).
Among foreign markets, the United Kingdom proved to be an attractive sales market again in the 2015 financial year, with the Group's UK subsidiary 2G Energy Ltd. generating EUR 13.3 million of revenue (previous year: EUR 14.9 million). The company's US subsidiaries 2G Energy Inc. and 2G Cenergy Inc. - which are now combined operationally - also made an important revenue contribution of EUR 12.8 million. In analyzing the US business, a direct comparison with the previous year's EUR 6.3 million is not possible, as 2G Cenergy Inc. was not yet fully consolidated in the 2014 financial statements.
In terms of gas types, 47.5 % (previous year: 52.1 %) of Groupwide sales revenues were attributable to biogas operated 2G systems, and 52.5 % (previous year: 47.9 %) to Natural Gas operated systems. Revenues generated in Germany and abroad continue to present two contrasting pictures: while 85.2 % (previous year: 83.2 %) of CHP system revenues abroad derive from biogas operated CHP systems, the business in Germany continued to be dominated by natural gas operated systems with a 73.1 % revenue share (previous year: 59.9 %).
With a look to the current 2016 financial year, growth is expected in terms of both revenue and EBIT compared with 2015. The high order book position that 2G has carried forward into the current financial year forms a good starting basis for this. 2G registered in Q4 2015 new order intake that was significantly above the previous year's levels. As of December 31, 2015, the company reported an order book position of EUR 85.5 million (previous year: EUR 42.3 million), with the sum of orders included in the order book position, but not yet having been started, amounting to EUR 52.0 million (previous year: EUR 17.4 million). Of the total order book position, 41 % (previous year: 26 %) derives from abroad, which the company appraises as a positive signal given its internationalization strategy.
Somewhat quiet ordering patterns during the course the first quarter 2016 reflect the fact that a number of the orders received at the end of 2015 derive from the utilization of option rights granted before the amended German Cogeneration Act came into force as of January 1, 2016. New order intake during the first quarter 2016 consequently stood at EUR 13.3 million (previous year: EUR 18.7 million). New orders received and finally invoiced orders approximately offset each other during the first quarter of 2016, so that the order book position as of March 31, 2016 remains at a high level of EUR 86.9 million (previous year: EUR 49.0 million).
Based on this sound order book position, continuous business expansion abroad and further revenue growth from the service business, the Management Board assumes that the Group will generate sales revenue in a range between EUR 150 million and EUR 170 million in the current 2016 financial year, and widen the EBIT margin to between 3.0 % and 5.0 %. The discontinuation of special effects that burdened 2015 results (covered in detail in the 2015 Annual Report) supports this expected positive trend, with a year-on-year improvement in results being anticipated accordingly.
2G will publish its audited consolidated financial statements and its annual report on May 25, 2016.
2G Energy company portrait 2G Energy AG ranks among the world's leading manufacturers of cogeneration (CHP) systems for decentralised energy production and supply by means of combined heat and power. The company's product portfolio includes systems with an electric capacity between 20 kW and 4,000 kW for operation with natural gas, biogas, biomethane and other lean gases. 2G has successfully installed several thousand CHP systems in 35 countries to date. Especially in the 50 kW to 550 kW performance range, 2G possesses proprietary technological combustion engine concepts characterised by low specific fuel consumptions, high operational availability and optimised service intervals. Besides the main production site at the Group headquarters 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 agricultural and industrial operations, local authorities, and the residential sector through to municipal utilities and large-scale utilities. The high level of customer satisfaction is founded on a dense service network as well as 2G power stations' high technical quality and performance. These power stations achieve an overall degree of efficiency from 85 percent and to well above 90 percent thanks to combined heat and power performance. Along with the construction of combined heat and power stations, the company, located in Westphalia in the north-west of Germany, offers integrated solutions spanning the planning stage and installation through to service and maintenance work. In the context of the energy policy revolution, and as part of modern energy supply concepts, CHP systems are gaining considerably in importance in intelligent energy grid systems - so-called virtual power plants - due to their decentralised and scalable operation, and predictable availability.
2G is consistently expanding its technology leadership through continuous research and development work, both in gas engine technology for natural gas, biogas and synthetic gas applications (e.g. hydrogen), as well as in specific software development. The "virtual power plant" operating type has been created with a software solution, for example. Overall, the 2G system is thereby operated on a basis that is "heating-managed and electricity-oriented" in order to significantly simplify integration within a grid group. In the energy policy revolution's future electricity market design, such digitalisation-enabled flexibility 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 shares of 2G Energy (ISIN DE000A0HL8N9) have been listed in the Entry Standard of Deutsche Börse AG since July 31, 2007. The share capital amounts to EUR 4,430,000, and is divided into 4,430,000 shares. The company's founders held 55.3 % of the shares as of December 31 2015, with the free float amounting to 44.7 %.
2016 dates
May 25, 2016 Annual consolidated financial statements as of December 31, 2015, Q1 key figures and business trends July 5, 2016 Ordinary AGM, Ahaus Sept. 27, 2016 Semiannual consolidated financial statements as of June 30, 2016 Nov. 21-23, 2016 German Equity Capital Forum 2016 Nov. 30, 2016 Q3 key figures and business trends
Further information: www.2-g.de
Contact 2G Energy AG Benzstraße 3 48619 Heek Telephone: +49 2568 9347-2795 Telefax: +49 2568 9347-15 E-Mail: ir@2-g.de Internet: www.2-g.de
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25.04.2016 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. Media archive at www.dgap-medientreff.de and 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 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News Service ---------------------------------------------------------------------------
457099 25.04.2016
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