Yesterday, 2G Energy announced that its preliminary FY18 net sales increased by 10% year-on-year to €210m. Management expects EBIT margin at the upper half of the forecasted 4.0-5.5% range.
In FY18, exports constituted 50% of 2G Energy’s sales, compared with previous year’s 45%. Even though new order intake in January 2019 decreased to €12.3m, it still remained above long-term averages. The new order intake was driven by exceptionally good economic situation in the biogas sector, according to 2G Energy.
At the beginning of 2019, the company’s order book was €131.5m, up from last year’s €95.9m. 2G Energy hopes that the implementation of lean production and shorter lead time will increase the company’s capacity by c. 10%. Therefore, 2G Energy has amended its FY19 net sales forecast from the previous €200-230m to €210-230m.