2G Energy Signs Largest Ever Single Order, Targets €620 Million in 2027 Revenue

German energy firm 2G Energy secures record $100M+ contract for containerized power plants to North American AI data centers, lifts 2026 revenue forecast, but near-term margins pressured by ERP costs and low-margin machine sales.

The German energy equipment specialist has locked in the biggest individual contract in its history, a deal worth more than $100 million to supply containerised power plants to North American data centres. The agreement, which became effective on 26 May 2026, covers the low triple-digit megawatt range and marks a strategic shift into the fast-growing market for decentralised energy solutions powering artificial intelligence infrastructure. Deliveries will begin in the second half of 2026 and stretch over several years, with the company already in talks with other potential clients about projects of a similar scale.

The order has prompted management to raise its revenue outlook for 2026 to as much as €490 million, the upper end of its previous forecast range. For 2027, the board now expects a jump of around 20 per cent, targeting sales between €570 million and €620 million. However, the near-term profit picture is less rosy. The margin for 2025 has been narrowed to 6.5–8.0 per cent at the lower end, weighed down by the costs of introducing a new enterprise resource planning system that is hitting the German service business. Next year’s margin is also clouded by a temporarily higher share of pure machine sales from the data centre contract, meaning the EBIT margin will not necessarily reach the top of the 9.5–10.5 per cent band. By 2027, the company expects profitability to recover sharply, targeting an EBIT margin above 11 per cent.

Analysts have responded with a mix of enthusiasm and caution. SMC-Research reaffirmed its “Buy” rating and lifted its price target from €44 to €78, arguing the mega-order could be just the first in a series of similar deals. First Berlin Equity Research went further on the valuation, raising its fair value from €44 to €73, but simultaneously downgraded its recommendation from “Buy” to “Add”. The reason is straightforward: the stock has roughly doubled since the last assessment, leaving just around 8 per cent upside, well below the firm’s 25 per cent threshold for a buy rating.

The shares closed at €69.50 on Wednesday, setting a new 52-week high. They have surged 123 per cent over the past twelve months and are up nearly 90 per cent since the start of the year. The 52-week low of €25.25 now seems a distant memory. The relative strength index currently stands at 48.9, suggesting the stock has entered neutral territory after the recent rally.

Capacity at the company’s headquarters in Heek has already been expanded to handle rising demand from North America. The next milestones for investors include the publication of preliminary consolidated figures for 2025 in June, followed by the full annual report and first-quarter results for 2026 around the same time — though the ongoing ERP rollout could cause delays. With talks for further multi-hundred-megawatt orders already underway, 2G Energy has carved out a strong position in the booming market for data centre power, but the near-term margin squeeze and single-customer concentration will keep the story finely balanced.