AGO AG: Preliminary Figures for the 1st Quarter of 2011

Increase of sales revenue by 33% to EUR 17.4 million / Increase of EBIT by EUR 1.1 million / Outlook for 2011: rise in gross margin and clearly positive result is expected

Kulmbach, (PresseBox) - AGO AG (WKN code: A0LR41, ISIN code: DE000A0LR415) augmented its sales revenue from EUR 13.0 million in the prior year's quarter by 33% to EUR 17.4 million according to preliminary IFRS accounting standards. Despite the fact that various projects ended at lower margins in the first quarter of 2011 compared to order backlog 2011, gross results increased by EUR 1.0 million to EUR 0.8 million. EBIT also improved significantly by EUR 1.1 million. After EUR -1.1 million at the same period last year, break-even was achieved on 31 March 2011 in the weakest quarter of the business cycle.

"After a difficult year 2010, we succeeded reversing the decline in the first quarter of 2011. Even though we are heading only for a balanced EBIT at the end of the quarter, we are very optimistic for the further course of the year. At present, cogeneration units with combined heat and power systems are in demand. With incoming orders amounting to EUR 21.0 million and order backlogs of EUR 47.1 million on 31 March 2011, our capacity utilization for the full year is correspondingly high.

The turnaround of AGO AG Energie + Anlagen results from the ongoing strong demand for natural gas driven thermal power stations with megawatt output which is requested not only by municipalities but also by industrial companies, increasingly backed by AGO's typical feature of trigeneration. Looking forward, we anticipate an improvement of the gross margin as well as a strongly positive group result for 2011," noted Mr. Hans Ulrich Gruber, Speaker of the Management Board of AGO AG Energie + Anlagen.

The release of the detailed Q1 Report 2011 is expected for end of May 2011.

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.

Press releases you might also be interested in

Subscribe for news

The subscribtion service of the PresseBox informs you about press information of a certain topic by your choice at a choosen time. Please enter your email address to receive the email with the press releases.

An error occurred!

Thank you! You will receive a confirmation email within a few minutes.


I want to subscribe to the gratis press mail and have read and accepted the conditions.