EQS-News
2G Energy AG boosts order intake by 26% in 1st quarter
- 2G Energy AG boosts order intake by 26% in Q1
- US market shows significant growth, orders up by 290%
- Dividend proposed to increase by 21% to EUR 0.17 per share
EQS-News: 2G Energy AG / Key word(s): Incoming Orders/Dividend 2G Energy AG boosts order intake by 26% in 1st quarter |
- Orders reach EUR 51.7 million (previous year: EUR 41.0 million)
- US market overcomes caution and shows significant growth (EUR 10.1 million; previous year: EUR 2.6 million)
- 2G sells its first CHP/heat pump combination in Germany
- Management and Supervisory boards propose a dividend increase of 21% to EUR 0.17 per share
Heek, April 18, 2024 - 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, maintained its high growth trajectory in the first quarter of 2024. In the first three months, 2G boosted its order intake by 26%, winning orders for new systems in an amount of EUR 51.7 million (previous year: EUR 41.0 million). A total of EUR 1.9 million was attributable to the heat pump business.
US market overcomes caution and posts significant growth
In the US market, the Inflation Reduction Act (IRA) is now leading to increased orders after 2G had used the previous months together with its customers and project partners to work on numerous projects in line with IRA requirements. In the first quarter, orders worth EUR 10.1 million were recorded, which represents an almost fourfold increase compared to the previous year (EUR 2.6 million). 2G continues to anticipate an increase in new order intake in the USA in the coming quarters.
The order intake in the last quarter breaks down as follows:
Q1 2024 | Q1 2023 | Change | ||||
in EUR million | in % | in EUR million | in % | in EUR million | in % | |
Germany | 23.5 | 45% | 21.1 | 51% | 2.4 | 11% |
Rest of Europe | 14.4 | 28% | 10.0 | 24% | 4.4 | 44% |
North America | 10.1 | 20% | 2.6 | 6% | 7.5 | 290% |
Asia/Australia | 1.9 | 4% | 5.4 | 13% | -3.5 | -65% |
Rest of the world | 1.8 | 3% | 1.9 | 5% | -0.1 | -4% |
Total | 51.7 | 100% | 41.0 | 100% | 10.7 | 26% |
2G sells its first CHP systems combined with heat pumps in Germany