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AGO AG Energie + Anlagen publishes 2008 nine-months-figures
- Turnover of the first nine months in the amount of EUR 25.68 million
- Gross profit margin of 12.67 percent
- EBIT in the amount of EUR 1.39 million (+ 169 percent)
- Record in incoming orders (currently): EUR 48 million
- Continuation of the positive trend expected for the fourth quarter of 2008
AGO AG Energie + Anlagen (cusip number: A0LR41; ISIN: DE000A0LR415), a German energy service provider for heat, refrigeration and power generation by means of biomass announces the nine-months-figures for the 2008 business year.
Within the reporting period (1 January 2008 to 30 September 2008) AGO AG Energie + Anlagen gained turnovers in the amount of EUR 25.68 million (previous year: EUR 32.01 million). The decrease compared to the previous year is to be explained by the cyclic project business where turnovers may fluctuate from quarter to quarter depending on the order volume. In the third quarter of 2008 turnovers in the amount of EUR 10.86 million were gained. The gross result amounted to EUR 3.25 million (previous year: EUR 0.83 million). EBIT on the balance sheet date amounted to EUR 1.39 million. Compared to the previous year's amount of EUR 0.52 million this value increased by EUR 0.87 million or 169 percent. After deduction of the financial result and tax result in the amount of EUR - 0.90 million (previous year: EUR - 0.42 million) an annual net income amounting to EUR 0.49 million was gained (previous year: EUR 0.09 million). With 4.0 million outstanding shares that corresponds to a result per share of EUR 0.12.
Along with the positive period surplus AGO AG Energie + Anlagen's equity increased to EUR 12.92 million (31 December 2007: EUR 12.38 million). The equity ratio improved at a balance sheet total on the due date of the nine-months-report of EUR 34.90 million (31 December 2007: EUR 35.10 million) to 37.03 percent (31 December 2007: 35.31 percent). Long-term borrowed capital on the balance sheet date amounted to EUR 10.61 million (31 December 2007: EUR 11.19 million). Current liabilities against banks amounted to EUR 1.04 million (31 December 2007: EUR 1.00 million) on the 2008 nine-months-report's due date. In contrast, deposits with banks amounted to EUR 5.72 million (31 December 2007: EUR 5.56 million) on the 2008 nine-months-report's due date.
Owing to the worldwide slow-down of economic growth also AGO AG has been noticing the crisis of the automobile industry. That resulted in temporary delays and even order cancellations. However, AGO AG Energie + Anlagen is looking into the future positively due to incoming orders amounting to EUR 48 million. For the 2008 business year AGO AG Energie + Anlagen's Board of Directors is expecting the third quarter's positive trend to be continued also in the fourth quarter of 2008. EBIT in that case would considerably improve again compared to the 2008 ninemonths- report's value.
"The current number of incoming orders amounting to EUR 48 million is the highest value in company history so far. That even more emphasizes the positive future prospects of AGO Energie + Anlagen as a specialist in the growing market of renewable energies. Despite the financial crisis, we look ahead with positivity due to our broad range of products in terms of technology and our international orientation. As AGO AG Energie + Anlagen as an engineering company does not operate its own production lines for components it is possible to adapt to market fluctuations without it resulting in considerable revenue fluctuations. In future, we will even more participate in this growth market with the climate protection program "ECo-Plus" initiated by us. "ECo-Plus" currently is the only climate protection program which medium-sized companies that are not affected by emissions trading can trade emission allowances with when converting their fuel to biomass. We are continuously expanding our value chain, contribute enormously to environmental protection and enhance values for our shareholders", according to Hans Ulrich Gruber, CFO of AGO AG Energie + Anlagen.
The 2008 nine-months-report can be downloaded here: http://www.ago.ag/....
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