EQS-News: 2G Energy wins significant individual order in the US (EUR 17.5 million) | 10.10.24

2G Energy wins significant individual order in the US (EUR 17.5 million)

• A total of 32 hydrogen-compatible CHP systems for the nursing home chain on the west coast of the United States
• Incoming orders in the third quarter of 80.4 million euros (previous year 42.0 million euros, + 91%)
• Order backlog at the end of Q3 at a record level of more than €230 million (previous year: € 194.9 million)
• Continued high interest in decentralized CHP systems, especially in Eastern Europe

Heek, October 10, 2024 – 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of combined heat and power (CHP) systems and producers of heat pumps, recorded an order intake of EUR 80.4 million in the third quarter (last year). year: 42.0 million euros, +91%). 2G is therefore increasingly successful in converting long-term sales projects, some of which have a lead time of several years, into concrete orders.

The order book at the end of the third quarter at a record level of EUR 230 million (previous year: EUR 194.9 million)

At the end of the third quarter, the order book reached a record level of over 230 million euros, surpassing the previous year’s figure by more than 18%. With numerous customer orders approved, 2G expects full capacity utilization well into the second half of 2025.

“Given the very well-filled order book and the current lively demand in the international business community, it is clear that in the coming year we will achieve turnover in the upper half of the previously forecast range of 410 to 450 million euros.” as CEO Christian Grotholt stated. “The partner concept that we have been pursuing for years is gaining more and more ground, making us independent of individual regions and countries and therefore apparently resilient to economic downturns in individual markets.”

A total of 32 hydrogen-compatible CHP systems for the nursing home chain on the American west coast

Shortly before the end of the quarter, 2G secured a significant individual order in the United States worth 17.5 million euros. 2G will equip 32 nursing homes in California with CHP systems that are suitable for hydrogen (“H2-ready”). The systems will operate on natural gas until further notice and will be maintained by 2G as part of a full maintenance contract.

“This project is undeniably a flagship, as 2G demonstrates its technological leadership not only with its hydrogen engines,” said CTO Frank Grewe. “The mandatory earthquake safety of the CHP systems, which has been certified after extensive testing, also underlines our high and internationally recognized expertise in research and development.”

Because the significant prepayment for this order was only partially received in the third quarter, the third quarter figures only reflect approximately 60% of this order. The remaining approx. 40% will be recognized in October. The recently won tender in Southern Europe for the supply of 17 sewage gas CHP installations worth approximately 5 million euros (see Corporate News dated August 22, 2024) is not yet included in the current order portfolio, as work is currently still underway on the final modalities. clarified. It is therefore already clear that the order intake for October 2024 will also be considerably higher than that of last year.

Continued high interest in decentralized CHP systems, especially in Eastern Europe

In addition to the above-mentioned large orders from the USA and Southern Europe, a number of larger orders have been received for delivery to Eastern Europe. Contractual partners include individual industrial companies, public sector customers and sales partners from the region. Overall, the main selling points were the decentralization specific to CHP systems and, with regard to 2G as a solution provider, the technological maturity of 2G products and the short and reliable delivery times that 2G can guarantee.

The new order intake over the past quarter is structured as follows:

*Rounding differences apply.

2G corporate portrait

The 2G Energy AG Group is an internationally leading manufacturer and system provider of decentralized energy supply systems. The company develops, produces and installs total solutions in the growing market for high-efficiency CHPs and large heat pumps. Digital network integration and installation control for both types of energy generators, as well as service and maintenance, are further decisive performance criteria.

The product portfolio includes CHP plants in the power range from 20 kW to 4,500 kW for use with hydrogen, natural gas, biogas and other lean gases, as well as large heat pumps in the range from 100 kW to 2,6000 kW. CHP plants operate with efficiencies of 90 percent and more, while large heat pumps achieve efficiencies of 300 to 500 percent, depending on general conditions. With its products and services, 2G is at the cutting edge of a decentralized, secure and largely carbon-free energy supply. More than 8,000 2G systems have already been installed worldwide in various applications, providing electrical and thermal energy to a wide range of residential, agricultural, commercial and industrial customers, energy suppliers, municipal utilities and local governments.

2G positions itself worldwide as a system provider for decentralized energy solutions through the combination of CHP plants and large heat pumps. The company benefits from far-reaching synergies between both categories of factories, ranging from project development, purchasing and production to the largely identical customer base and regulatory framework, as well as sales channels and digital control and service.

2G is continuously expanding its technological leadership through ongoing research and development work, both in power plant and pump technologies and in specific software development for service and maintenance activities. The digital network integration consistently implemented by 2G is an indispensable, systemically relevant element in the future design of the electricity market and represents a high barrier for competitors to enter the market. The sector coupling that is necessary for the success of the energy transition is reflected in the 2G portfolio.

2G employs more than 900 employees at its headquarters in Heek, Germany, in North America, and at five other European locations. The company is active in more than 50 countries and generated net sales of EUR 312.6 million in fiscal 2022. 2G was founded in 1995 and has been listed on the capital market since 2007. The shares of 2G Energy (ISIN DE000A0HL8N9) are listed on the “Scale” segment of the Frankfurt Stock Exchange.

Calendar 2024

November 19 Q3 key figures and business trends
November 19, 3. ICF BANK Small- and Midcap Conference, Düsseldorf
November 25-27 German Stock 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: [email protected]
Internet: www.2-g.de