2G Energy Reaches International Sales Milestone But IT Transition Pushes Back Earnings

2G Energy's international revenue matched domestic sales in 2025, but shares fell on ERP delays. Operational outlook remains solid with 2026 targets and data centre growth.

2G Energy has crossed a strategic threshold that investors have long awaited: international revenue finally matched domestic sales in 2025. The gas engine manufacturer generated €198 million outside Germany, virtually level with the €200 million booked at home. The achievement underscores a broadening geographic footprint that reduces reliance on the volatile German market.

Yet the milestone arrived alongside an unwelcome distraction. Shares slipped 5.34% on Friday to €55.00, trimming a year-to-date rally that still stands at a towering 50.27%. Over the past month, the stock remains up 21.68%, underscoring the elevated expectations that now surround the company.

The sell-off was triggered by a purely technical setback: the implementation of a new ERP system at the recently established production subsidiary 2G Heek GmbH is taking longer than anticipated. The software’s annual closing routines require additional programming, forcing management to push back publication of the preliminary 2025 consolidated results to mid-June. The half?year report for 2026 has also been rescheduled, now set for 29 September.

Management stresses the delay is an IT issue, not an operational one. The timeline was adjusted early in consultation with auditors, which should ease procedural pressure. But after a share price run as hot as this, any postponement in financial communication tends to rattle confidence.

Operationally, the business remains in solid shape. Full?year 2025 revenue climbed 6% to around €398 million, with new plant sales jumping 11% to €230 million. The service segment held steady at roughly €169 million, matching near?record levels despite friction caused by the ERP transition. The system caused particular disruption in service workflows during the second half, where speed in maintenance and spare parts is critical.

Looking ahead, 2G Energy is holding to its 2026 targets: revenue between €440 million and €490 million, coupled with an EBIT margin of 9.0% to 11.0%. The company sees fresh impetus from data centre demand. A newly formed business unit expects initial deliveries to the United States in the second half of the year, backed by several large orders in the triple?digit megawatt range that are approaching finalisation.

Another potential catalyst is the power plant strategy being advanced by the EU Commission and the German government. A planned auction for 12?GW of controllable capacity is slated for this year, and 2G notes its gas?engine portfolio already meets the technical specifications, including hydrogen readiness.

The next real test comes in June. If the preliminary figures arrive on schedule, the market is likely to treat the ERP?related hiccups as a one?off administrative blip. Another slip in the calendar, however, would put the company’s financial communication under serious strain.