EQS-News: 2G Energy AG boosts Q3 net sales and EBIT

EQS-News: 2G Energy AG

/ Key word(s): Quarter Results

2G Energy AG boosts Q3 net sales and EBIT

21.11.2022 / 08:30 CET/CEST

The issuer is solely responsible for the content of this announcement.

2G Energy AG boosts Q3 net sales and EBIT

Net sales advance to EUR 76.8 million (previous year: EUR 51.5 million) in Q3

Total operating revenue up 35 % to EUR 90.1 million (previous year: EUR 67.1 million)

EBIT rises to EUR 6.1 million as of the end of September (previous year: EUR 3.6 million)

Management Board confirms net sales and earnings guidance for 2022

Heek, November 21, 2022 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of gas-fired combined heat and power (CHP) systems, substantially boosted its net sales in the third quarter as already communicated in the corporate news release on October 20 on the basis of preliminary figures. As of September 30, final consolidated net sales amounted to EUR 190.8 million (previous year: EUR 158.5 million).

In addition to a significant increase in the number of finalized projects, we also succeeded in keeping factory output at a consistently high level in the past third quarter, notes COO Ludger Holtkamp, referring to the increase in total operating revenue to EUR 227.9 million at the end of September (previous year: EUR 178.7 million). This provides a good basis for achieving the guidance for consolidated net sales of between EUR 290 million and EUR 310 million.

In line with the higher level of net sales, earnings before interest and tax rose to EUR 6.1 million in the first nine months of the year (previous year: EUR 3.6 million), corresponding to an EBIT margin of 3.2 % (previous year: 2.3 %). Despite significant cost increases in almost all major input factors, the cost of materials ratio and the other operating expenses ratio have to date been only slightly higher than in the previous year. As a consequence, the significant growth in net sales more than offsets the cost trend, comments CFO Friedrich Pehle. Given this, we should be able to achieve not only our net sales target for the year as a whole, but also our EBIT expectations of between 6 % and 8 %.
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