2G Energy AG reports 17% growth in net revenue in 2023

The German company 2G Energy AG, a specialist in combined heat and power (CHP) systems and heat pumps, saw its net turnover increase significantly in 2023, reaching around 365 million euros, i.e. an increase of 17% compared to the previous year (312.6 million euros). This growth is mainly attributed to activity related to new installations, which increased by more than 20% to approximately €202 million.

The services segment also saw an increase, with an increase of almost 10%, reaching approximately 163 million euros. Germany proved to be the main driver of this growth, with an increase of around 25%. These preliminary results highlight the strength of the CHP systems market, notably thanks to the removal of long-standing obstacles in terms of permits, construction materials and availability of qualified labor.

In addition to these performances, the company highlights the contribution of the end of the year to the increase in its machinery fleet, thus allowing a continued expansion of its service activities. Furthermore, despite limited finalization of heat pump projects since the acquisition of NRGTEQ BV, 2G Energy AG remains optimistic about its growth potential in this area.