2G Energy AG expands sales revenues in the first half-year by around 19% to over EUR 135 million (previous year: EUR 114.0 million)

2G Energy AG expands sales revenues in the first half-year by around 19% to over EUR 135 million (previous year: EUR 114.0 million)

• Sales with new CHP systems rise by 27% to around EUR 59 million (previous year: EUR 46.3 million)
• Good material supply enables output increase of around 20%
• 2G is establishing itself globally as a technology leader for stationary H2 engines

Heek, August 24, 2023 - 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of combined heat and power (CHP) systems, recorded significant sales growth in almost all core regions in the first half of the year, according to preliminary figures.

Sales rise by around 19% to over EUR 135 million (previous year: EUR 114.0 million).

2G maintained its growth course in the first half of 2023. Sales with new CHP systems increased by around 27% to EUR 58.7 million (previous year: EUR 46.3 million).

The expansion of the service business is also proceeding on schedule with the result that this segment has grown by around 13% to its current level of EUR 76.8 million (previous year: EUR 67.7 million).

Preliminary Sales in the last half year break down as follows:

* Rounding differences apply.

Good material supply enables output increase of around 20%

In the past half year, the company succeeded in overcoming supply bottlenecks for the long term. Noticeably less stressed material supplies together with the lead-to-lean project pursued for years to implement industrial processes were the catalyst for another substantial rise in factory output which has increased by around 20% according to provisional figures.

“Our procurement and production organization has repeatedly proved its capabilities,” states CEO Christian Grotholt. “Together with an order book that remains very high, the half-year sales figures provide the best conditions for achieving our ambitious growth target for 2023.”

2G establishes itself as an international technology leader in stationary H2 engines

In the first six months of the current fiscal year, 2G has succeeded in expanding its global technology leadership in stationary hydrogen engines. Overall, six orders for the delivery of pure hydrogen CHP units were won in the first half of the year, most of which will be connected to the grid outside Germany.

“Although competitors are now occasionally announcing that their CHP units can also be operated with pure hydrogen”, says CTO Frank Grewe, “however, as far as we can tell, these systems are prototypes or at best pilot systems. We are even more pleased that we are now increasingly winning orders in which our H2 CHP systems are used on a full commercial basis, as our customers are targeting clear returns on our H2 CHP systems.”

2G company portrait
The 2G Energy AG Group is an internationally leading manufacturer of decentralized energy supply systems. With the development, production and technical installation as well as digital grid integration, the company offers comprehensive solutions in the growth market for highly efficient CHPs. After-sales and maintenance services comprise an important additional performance criterion. The product range especially includes CHP modules in the 20 kW and 4,500 kW range for operation utilizing hydrogen, natural gas, biogas as well as other lean gases. Worldwide, more than 8,000 installed 2G systems in various applications supply electrical and thermal energy to a broad spectrum of customers including companies in the housing industry, agriculture, commercial and industrial companies, public energy utilities, and municipal and local government authorities.

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 power plant 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 more than 850 employees 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 312.6 million in the 2022 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.

2023 calendar dates
September 07  Half-year figures as at June 30, 2023
November 27  Q3 key figures and business trends
November 27-29  German Equity Forum, Frankfurt

IR contact
2G Energy AG
Benzstrasse 3, 48619 Heek
Phone: +49 (0) 2568 93 47-2795
Fax: +49 (0) 2568 93 47-15
Email: ir@2-g.de
Internet: www.2-g.de