2G Energy AG noticeably improves cost of materials ratio in the first
quarter and substantially increases EBIT

EQS-News: 2G Energy AG / Key word(s): Quarter Results
2G Energy AG noticeably improves cost of materials ratio in the first
quarter and substantially increases EBIT

23.05.2024 / 08:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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2G Energy AG noticeably improves cost of materials ratio in the first
quarter and substantially increases EBIT

* Cost of materials ratio drops to 64.5% (previous year: 69.0%)

  * EBIT of EUR 0.9 million marks a significant increase over the previous
    year (EUR -0.2 million)

  * Sales revenues remain at a very high level at EUR 69.5 million (previous
    year: EUR 68.5 million)

* Management Board confirms outlook for the current and coming year

Heek, May 23, 2024 - With sales revenues of EUR 69.5 million, 2G Energy AG
(ISIN DE000A0HL8N9), one of the world's leading manufacturers of Combined
Heat and Power (CHP) systems and a producer of heat pumps, succeeded in
building on its very high level of the previous year (EUR 68.5 million) in
the first quarter of the current fiscal year (+ EUR 1.0 million).

Cost of materials ratio drops to 64.5% (previous year: 69.0%)

Significant improvements in earnings were achieved by normalizing the cost
of materials ratio. Now that the procurement side of the business has calmed
down appreciably with price increases currently running in the low
single-digit percentage range, the company's own moderate list price
adjustments of the last 18 months are having a greater impact. The ratio of
material costs on one side to 2G's list prices on the other is thus
returning to normal.

EBIT of EUR 0.9 million significantly above the previous year (EUR -0.2
million)

With the distribution of sales revenues between CHP systems and Services as
well as between domestic and foreign revenues painting a very similar
picture overall to the previous year, the improvement in the cost of
materials ratio is largely reflected in EBIT which has increased by EUR 1.1
million. 2G has therefore already generated a significantly positive EBIT of
EUR 0.9 million in the first quarter (previous year: EUR -0.2 million).

"We are pleased that we were able to maintain our high level of sales
despite the extremely strong final spurt in the fourth quarter of 2023",
states CEO Christian Grotholt. "Normalizing our procurement costs is now
enabling us to translate the considerable successes of the last few years on
our way towards a process-oriented, collaborative, quality-driven,
customer-centric organization into sound financial performance with improved
margins, and thus to meet the ambitious EBIT margin forecast at the end of
the year."

Management Board confirms outlook for the current and coming year

The Management Board is confirming the forecasts already announced for the
current year (sales revenues of EUR 360 to 390 million with an EBIT margin
between 8.5% and 10.0%; previous year: EUR 365 million with an EBIT margin
of 7.6%) as well as for the coming year (sales revenues of EUR 390 to 450
million).



2G company 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 comprehensive solutions in the growing market for
highly efficient CHPs and large heat pumps. Digital grid integration and
plant 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 output range from 20 kW to
4,500 kW for operation 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 the
general conditions. With its products and services, 2G is at the interface
to a decentralized, secure and largely decarbonized energy supply. More than
8,000 2G systems have already been installed worldwide in various
applications, supplying electrical and thermal energy to a wide range of
customers from the housing industry, agriculture, commercial and industrial
companies, energy suppliers, municipal utilities and local government
authorities.

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

2G is consistently expanding its technological leadership through continuous
research and development work, both in power plant and pump technologies as
well as in specific software development for service and maintenance
activities. The digital grid integration consistently implemented by 2G is
an indispensable, system-relevant element in the future electricity market
design and represents a high market entry hurdle for competitors. The sector
coupling required for the success of the energy transition is reflected in
2G's portfolio.

2G employs more than 900 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.

Calendar 2024
June 4 Ordinary AGM, Ahaus/Germany
June 6 Warburg Highlights Conference, Hamburg
September 5 Consolidated financial statements for H1 2024
November 25 Q3 key figures and business trends
November 25-27 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


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23.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        2G Energy AG
                   Benzstr. 3
                   48619 Heek
                   Germany
   Phone:          +49 (0)2568-9347-0
   Fax:            +49 (0)2568-9347-15
   E-mail:         service@2-g.de
   Internet:       www.2-g.de
   ISIN:           DE000A0HL8N9
   WKN:            A0HL8N
   Indices:        Scale 30
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt (Scale), Stuttgart, Tradegate Exchange
   EQS News ID:    1909143

End of News EQS News Service
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1909143 23.05.2024 CET/CEST