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Provider: Reuters Investment Profile
Provider: Sadif Analytics Prime
Provider: Wright Reports
Provider: Sadif Analytics Prime

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2G Energy AG Lowers FY 2013 Guidance; Issues FY 2014 Guidance In-Line With Analysts' Estimates; Confirms FY 2020 Guidance

Monday, 30 Sep 2013 01:27am EDT 

2G Energy AG announced that the Management Board is downgrading the forecast for the 2013 fiscal year that it issued at the end of May 2013 (EUR 160 million of sales revenue and an EBIT margin in the low double-digit range) to consolidated revenue of between EUR 120 million and EUR 140 million, and a profit before interest and tax (EBIT) of between EUR 3 million and EUR 5 million. 2G motivated the forecast downgrade by noting that for the second half of the 2013 marked sales revenue growth, due to the current order book position and the higher level of invoicing of existing work in progress, will fail to offset the weak first and second quarters. For what concerns long-term guidance, 2G is retaining its long-term forecast of revenue growing to EUR 300 million and an achievable EBIT margin of 15 % by fiscal year 2020. As far as the coming 2014 fiscal year is concerned, the Management Board expects year-on-year growth in both revenue and earnings in light of its improved order book position and more vigorous new order intake growth. The forecast for the 2014 fiscal year will be made more specific at the latest in May 2014 when the 2013 consolidated financial statements are presented. According to I/B/E/S Estimates, analysts on average are expecting the Company to report for fiscal year 2013 revenues of EUR 150.20 million and EBIT of EUR 12.87 million, and for fiscal year 2014 revenues of EUR 177.62 million. 

Company Quote

26 May 2015