DGAP-News: 2G Energy AG
/ Key word(s): Incoming Orders
2G Energy AG reports growth in new order intake to EUR 60.8 million in Q2 (previous year: EUR 47.8 million)
Heek, July 21, 2022 – 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas driven combined heat and power (CHP) systems, reports continued year-on-year growth in its intake of new orders for new systems in the second quarter of the year. Overall, new orders worth a total of EUR 60.8 million were received, representing growth of around 27 %. In the first quarter, new order intake was already up by around 15 % on the previous year (EUR 46.4 million) to stand at EUR 53.6 million.
The composition of new order intake in the past quarter is as follows:
In the last Corporate News published on July 8, 2022, the 2G Management Board had already confirmed the long-term net sales and earnings guidance for the years 2022, 2024 and 2026, referring to growing interest worldwide especially for cogeneration systems powered by alternative gases.
“The consolidated new order intake figures for the second quarter confirm the aforementioned assessment and underscore that 2G is well positioned for the future with its broad product and customer portfolio as well as its years of expertise in a wide range of application concepts in all gas sectors,” adds CEO Christian Grotholt. In particular, it is once again evident that temporary economic weaknesses in one market can be more than offset by rising demand in other regions.
In light of current discussions, it is certainly worth mentioning that in the past week alone, ten new systems were commissioned in Germany for operation with gas from purification plants,” notes CFO Friedrich Pehle.
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 power conversion 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. As a consequence, 2G’s customers 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 hydrogen, natural gas 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 creates a high barrier to market entry for competitors.
2G employs around 750 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 266 million in the 2021 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.
2022 calendar dates
21.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||2G Energy AG|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange|
|EQS News ID:||1402341|
|End of News||DGAP News Service|