2G Energy (2GB) H2 2025 earnings summary

Executive summary

• Implemented a new ERP system and restructured the group, separating production and international activities into dedicated entities to support future growth.

• Achieved record order intake in H1 2026, exceeding EUR 400 million, driven by strong demand in data centers, mining, and other regions and product divisions.

• Net sales increased by 6% year-over-year to EUR 398.4 million in 2025, continuing a multi-year growth trend.

• EBIT declined by 21% to EUR 26.3 million, with the margin dropping to 6.6% from 8.9% in 2024, due to one-off ERP costs and lower service margins.

• Total output rose by 12% to EUR 409.2 million.

Financial highlights

• Net sales: EUR 398.4 million (up 6.1% year-over-year).

• EBIT: EUR 26.3 million (down 21.1% year-over-year), margin at 6.6%.

• Total output: EUR 409.2 million (up from EUR 364.8 million in 2024).

• Service revenues were flat at EUR 169.3 million, with service share of net sales declining to 43%.

• Abroad/international sales grew 17% to EUR 195 million, now representing 49% of total sales.

Outlook and guidance

• 2026 sales forecast up to EUR 490 million, with EBIT margin expected between 9.5% and 10.5%.

• 2027 sales guidance set at EUR 570–620 million, with EBIT margin projected above 11%.

• Growth from 2025–2027 projected to exceed 20%.

• Management expects book-to-bill ratio of 2.5 or higher for 2026.

• Additional capacity and service demand expected from new data center, mining, and heat pump installations by 2028.