AGO AG Energie + Anlagen: Publication of Annual Report of 2007
- Turnover increase by + 21.8 percent to EUR 41.3 million
- Annual result burdened by capital increase
- Positive results from plant operation / service & consulting
AGO AG Energie + Anlagen (Cusip Number: A0LR41; ISIN: DE000A0LR415) today published the Annual Report for the year 2007 according to IFRS.
In the business year of 2007, AGO AG Energie + Anlagen could achieve sales revenues in the amount of EUR 41.3 million (previous year: EUR 33.9 million). The result before interest and tax (EBIT) on the due date of the annual accounts amounts to EUR -0.27 million compared to EUR 1.37 million in the same period of the previous year. After deduction of the financial result, the taxable result as well as the result from discontinued business units, the consolidated annual deficit amounts to EUR -0.86 on the balance sheet date. In the previous year, this value amounted to EUR 0.37 million. The annual result of 2007 is significantly burdened by the costs caused by capital increase. These costs amount to approximately EUR 1 million and are one-time costs. Furthermore, short-term price increases for assembly and transport capacities had a negative effect.
Those short-term price increases exclusively concern the segment "project development and implementation", in which in 2007 a segment result of EUR -0.25 million (previous year: EUR 0.91 million) was stated. The other segments "service & consulting" as well as "plant operation" have a considerably positive result with segment results of EUR 0.43 million and EUR 0.44 million.
At an equity ratio of 35.3 percent, AGO AG Energie + Anlagen has liquid assets of EUR 5.6 million on the balance sheet date of the Annual Report 2007.
"As a market leader for biomass heating stations and biomass cogeneration plants in Germany, AGO AG Energie + Anlagen forward-looking went public in June 2007 in order to push the strategic orientation to a plant operator. With a high amount of incoming orders in the first quarter amounting to EUR 20.7 million (+71 percent compared to the reference value of the previous year), which to date is the highest value in company history, we have sustainably given proof of this strategy's success. Owing to international attempts to confine global warming, we expect large investments in technologies turning biomass into electricity and heat/refrigeration. As the market leader in Germany with international references we see our company very well-positioned for the upcoming growth", according to Hans-Ulrich Gruber, CEO of AGO AG Energie + Anlagen.
The Annual Report is available for downloading as of today: http://www.ago.ag/...
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.