AGO AG Energie + Anlagen: Financial figures 2008
- Sales of €36.7 million (previous year: €41.3 million)
- EBIT increase to €1.6 million (previous year: €-0.3 million)
- Group result of €0.6 million (previous year: €-0.9 million)
- Outlook: Financial room for manoeuvre for further sustainable growth
AGO AG Energie + Anlagen (WKN: A0LR41 / ISIN: DE000A0LR415) has today published its financial figures for 2008 in accordance with IFRS.
Sales amounted to €36.7 million in the financial year 2008 (previous year: €41.3 million). Gross profit increased by €2.3 million to €4.2 million (previous year: €1.9 million). Despite the decline in sales of 11.2 percent resulting from project deferrals in 2009, operating profit (EBIT) rose by €1.9 million to €1.6 million in the financial year 2008 (previous year: €-0.3 million). The Group annual result increased by €1.5 million from €-0.9 million to €0.6 million. As a result, earnings per share went up by €-0.26 to €0.15 (number of shares: 4,000,000).
"The positive development in the margin is primarily attributable to a good project selection and focussing on our own plans in the project business. At the same time, we consciously did not implement low margin projects in the previous financial year," explains Hans Ulrich Gruber, Chairman of AGO AG Energie + Anlagen.
As of the balance sheet date on 31 December 2008, AGO AG Energie + Anlagen was able to record total assets of €38.0 million (previous year: €35.1 million). Shareholders' equity amounted to €13.0 million (previous year: €12.4 million). As of the reporting date for the financial year 2008, liquid assets totalled €7.7 million (previous year: €5.6 million and current financial liabilities amounted to €2.1 million (previous year: €1.0 million).
"With an equity ratio of 34 percent and the 40 percent increase in our liquidity to €7.7 million, AGO AG has extensive room for manoeuvre in short-term project financing. This means that the Company is able to operate independently from the financial market even in the current economic and financial situation. The project backlog from 2008, record order levels of €28.3 million (up by 105 percent as of 31 December 2008) as well as the continued expansion of our international business activities will have a positive impact on the further increase in the current EBIT margin of 4.3 percent and will ensure the workload for employees in the financial year 2009 despite the current downturn in the economy. In addition to our financial room for manoeuvre, the intensified international expansion and our climate protection programme, we also consider ourselves well positioned to achieve further sustained growth - even beyond the financial year 2009," emphasises Hans-Ulrich Gruber, Chairman of AGO AG Energie + Anlagen.
The annual report 2008 (german version) is available for download with immediate effect: http://www.ago.ag/index.php?article_id=50&clang=0.
AGO AG Energie + Anlagen
The company with company headquarters in Kulmbach which was founded in 1980 is a specialist in the area of innovative and efficient energy supply and facilities. AGO AG focuses on the three business segments project development and implementation, operation of facilities as well as service & consulting. The company's core competences are mainly biomass cogeneration plants, cogeneration plants, heat and refrigeration plants, trigeneration as well as contracting. Location studies / location development, energy efficiency consulting, raw material and fuel management as well as emissions trading round off the business model. AGO stands for efficiency, reliability and technological competence for your energy supply plants.