2G Energy Reports Marginal Increase in EBIT Margin for H1 2024

2G Energy AG has reported a slight increase in its EBIT margin, reaching 3.1% in the first half of 2024, up from 3.0% in the previous year. The EBIT remained stable at EUR 4.1 million despite a 10% decrease in total operating performance to EUR 150.3 million, attributed to sector-related bottlenecks.

Delayed releases of production due to unavailability of essential components and staff shortages affected the company's sales, which dropped by 3% to EUR 131.2 million. Despite these challenges, the order intake remained strong due to diversified sales markets, boosting the project pipeline and order backlog.

2G Energy also saw a positive development in key performance indicators through continued process improvement and strategic workforce allocation. Personnel expenses increased by 11.1% to EUR 35.8 million, while working capital was reduced by 4.1%, contributing to better liquidity.

Moreover, the acquisition of NRGTEQ B.V. in 2023 led to increased depreciation and amortization, pushing EBITDA up by 12% to EUR 7.4 million. The EBITDA margin improved to 5.6%. Additionally, Pablo Hofelich joined as the new Chief Sales Officer to bolster global sales efforts.