DGAP-News: 2G Bio-Energietechnik AG: 2G reports 141% sales growth after very strong fourth quarter, significantly exceeding market earnings expectations. Growth path set to continue.
(firmenpresse) - 2G Bio-Energietechnik AG / Preliminary Results
31.03.2010 10:46
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Corporate News
2G reports 141% sales growth after very strong fourth quarter,
significantly exceeding market earnings expectations. Growth path set to
continue.
Heek, March 31, 2010 - 2G-Bio-Energietechnik AG (2G), one of Germany's
leading manufacturers of combined heat and power (CHP) plants, entered new
sales and earnings territory in 2009. Between January and December, the
company generated revenue of EUR 51.1 million, following EUR 21.2 million
in the previous year, according to provisional figures. Operating earnings
(EBIT) of EUR 3.5 million, following a loss of EUR 0.6 million in the
previous year, significantly exceeded analysts' estimates. The Management
Board is very confident that the company will continue on its growth path
in the 2010 financial year. As of December 31, 2009, the order book
position still amounted to EUR 26.0 million (previous year: EUR 7.0
million).
Q4 the company's strongest revenue quarter in its history
The high level of earnings growth resulted primarily from very strong
business in the fourth quarter, as well as from the final invoicing of many
preliminary services rendered in the previous quarter. In addition, the
company's shipment rate was particularly high at the year-end, due to
customers who wished to secure multi-year feed-in tariffs from the German
Renewable Energies Act (EEG). As a result, in the fourth quarter 2G more
than doubled the revenue it generated in the previous nine months together.
The Management Board is assuming that this demand behavior, which is
typical of the sector, will also continue to characterize business growth
in the current 2010 year.
The strong growth in revenue contributions had a positive impact on the
company's operating earnings. After having still incurred a loss of EUR 0.6
million in the previous year (resulting from a weak first half-year in
2008), EBIT amounted to EUR 3.5 million in 2009, despite significant
expenses incurred through the new company headquarters construction.
'We are quite clear in our confidence that we will continue to report
growth,' commented CEO Christian Grotholt, 'but it would be a mistake to
simply extrapolate the fourth quarter results into 2010. The performance
that our company has already achieved in such a short space of time is
remarkable in this respect.' In the final analysis, the corporate strategy
should be concerned not only with attaining as rapid business expansion as
possible, but also with securing a successful future beyond the current
business cycle. Various projects include foreign expansion, technological
developments aimed at creating further unique selling propositions, and a
broadening of the business model.
Strong order book position and continued demand
The Management Board assumes that the company will continue to chart its
record course in the current 2010 financial year. As of the balance sheet
date, 2G boasts an order book position of EUR 26.0 million (previous year:
EUR 7.0 million), which has consequently almost quadrupled compared with
the previous year. In this context, the company's early orientation to the
utilization of natural gas has had a positive impact. The order book
contains 20 orders for natural-gas-driven combined heat and power (CHP)
generation units. In this segment, combined heat and power generation
plants in the lower performance area, such as the G-Box, are in particular
demand, while many higher output plants are also sold in the biogas
segment. Demand for natural-gas-driven combined heat and power units should
exhibit significant growth in the future, since 2G is further intensifying
its cooperation with major energy utilities, as well as numerous municipal
utilities and other energy service providers.
Year-on-year comparison: (2009 provisional)
Key figures (in EUR million) 2008 2009 Change
Revenue 21.2 51.1 + 141 %
Total output 23.7 53.0 + 124 %
EBIT -0.6 3.5
Order book 7.0 26.0 + 271 %
Quarterly trends: (2009 provisional)
Key figures (in EUR million) Q1 Q2 Q3 Q4
Revenue 4.0 9.6 14.8 51.1
Total output 5.2 12.5 24.0 53.0
EBIT 0.0 0.0 -0.1 3.45
Quarter-end order book 18.0 23.3 47.7 26.0
Company profile
2G Bio-Energietechnik AG is one of the leading German providers of plants
for the decentralized supply of energy. With the development, production,
installation, and servicing of combined heat and power (CHP) plants, the
company offers comprehensive solutions in the growing market for highly
efficient cogeneration systems, which will benefit greatly from political
support for stronger climate protection over the next years.
Forthcoming dates:
May 4, 2010 Analyst presentation in Frankfurt a.M.
May 2010 Publication of 2009 consolidated financial statements
September 3, 2010 Ordinary Shareholders' General Meeting, Heek
September 2010 Interim report June 30, 2010
November 2010 Business progress report as of September 30, 2010
Further information: www.2-g.de
2G Bio-Energietechnik AG
Christian Grotholt, CEO
Benzstr. 3, 48619 Heek
Telephone: +49 2568 93 47-0
Telefax: +49 2568 93 47-15
E-mail: info(at)2-g.de
UBJ. GmbH
Ingo Janssen
Kapstadtring 10, 22297 Hamburg
Telephone: +49 40 6378 5410
Telefax: +49 40 6378 5423
E-mail: ir(at)ubj.de
31.03.2010 10:46 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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