2G Energy keeps dividend stable despite 2012 profit drop

May 31, 2013 - German manufacturer of biogas plants 2G Energy AG (ETR:2GB) said today it will pay an unchanged dividend of EUR 0.37 (USD 0.481) per share for 2012, although its profit declined as a consequence of the challenging domestic market.

Consolidated net profit went down to EUR 11.3 million from EUR 13.6 million a year ago. The earnings per share (EPS) dropped to EUR 2.58 apiece from previously EUR 2.98.

The company also confirmed its preliminary figures, indicating deterioration in both earnings before interest and tax (EBIT) and revenue. EBIT fell to EUR 16.6 million from EUR 19.5 million in 2011, while revenue decreased to EUR 146.5 million from EUR 167.3 million. The EBIT margin went down to 11.3% from 11.8%.

2G Energy said it managed to reduce its dependence on the German biogas market and state subsidies and to boost its international sales to 40% from previously 10%. The company was particularly successful in the USA and Italy.

2G Energy targets revenue of EUR 160 million in the current year and constant EBIT margin.

The company also unveiled plans to boost its revenue to around EUR 300 million and its EBIT margin to 15% by 2020.

(EUR 1 = USD 1.299)

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