DGAP-News: AGO AG Energie + Anlagen / Key word(s): Quarter Results
AGO AG makes a successful start into 2011
10.06.2011 / 07:40
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AGO AG makes a successful start into 2011
- Q1 sales revenue: 33% increase of sales to EUR million 17.4 (prior
year's period: EUR million 13.0/+33%)
- Balanced EBIT (prior year's period: EUR million -1.1)
- AGO AG sells its participation in AGO energia S.r.l.
- Majority shareholder YIT group: strategic sale of AGO equity stake to
investor Perseus L.L.C. announced
- Outlook for 2011: increase of sales revenue, significant rise of gross
margin and clearly positive result
Kulmbach, 10 June 2011: AGO AG Energie + Anlagen (WKN: A0LR41, ISIN:
DE000A0LR415) closed the first quarter of 2011 with a substantial increase
of sales revenue and an improved EBIT.
Consolidated sales revenue rose by EUR million 4.3 (+33.0%) to EUR million
17.4. Gross result improved although during the first quarter 2011, various
projects ended at lower margins in comparison to the order backlog 2011
-from EUR million -0.3 by EUR million 1.1 to EUR million 0.8. This
corresponds to a gross margin of 4.6%.
During the reporting period, the company augmented EBIT by EUR million 1.1
and achieved a balanced result before income and taxes (prior year's
period: EUR million -1.1). Consolidated result for the period rose
significantly from EUR -0.9 million also to a balanced result.
With a balance sheet total of EUR million 36.7 (31.12.2011: EUR million
36.9), the equity ratio amounted to 12.94% on 31 March 2011 (13.14% on
31.12.2010). Cash funds totaled EUR million 5.4 on reporting date.
Sale of participation in AGO energia S.r.l.
AGO AG parts from its subsidiary of 55% AGO energia S.r.l. on 7 June 2011.
The sale of the participation was made to the managing director of AGO
energia S.r.l. The parties have agreed to not disclose the purchase price.
Change of shareholder structure
With the takeover of Caverion GmbH as main shareholder of AGO AG Energie +
Anlagen in December 2010 by YIT Group, the latter obtained majority of AGO
AG Energie + Anlagen with a stake of 59.25%. End of May, YIT informed to
sell its equity in AGO AG to Perseus L.L.C. for strategic reasons.
'The operative figures of the first quarter of 2011 meet our expectations
and underline our objectives for the year. We anticipate further
considerable growth of sales for the total year 2011. With incoming orders
of EUR million 21.0 and an order backlog of EUR million 47.1 on 31 March
2011 -which will be completely processed within the business year 2011- we
assume a significant rise of the gross margin and a positive result for the
ongoing business year,' noted Mr. Hans Ulrich Gruber, Speaker of the
Management Board of AGO AG Energie + Anlagen.
The Q1 2011 Report is now available on the following internet page for
download:
http://www.ago.ag/en/investor+relations/reports/reports+2011/
About AGO AG Energie + Anlagen:
AGO AG Energie + Anlagen, with its registered office in Kulmbach, was
founded in 1980 and is specialized in the area of innovative and efficient
energy supply facilities for industrial customers. Main focus of AGO AG
Energie + Anlagen is laid on the following three business divisions:
project development and implementation, plant operation and service and
consulting. The core competence of the company commits mainly to biomass
cogeneration plants and power generation plants, to heating and cooling
technology plant construction, trigeneration - a combination of
power-heat-cooling - as well as to contracting. Site studies and
development, consulting in energy efficiency, resource and fuel fossil
consulting as well as emission trade management - these factors complete
the business model. AGO symbolizes efficiency, security and technological
competence of your energy supply facilities.
Contact:
Company contact:
AGO AG Energie + Anlagen
Am Goldenen Feld 23
D-95326 Kulmbach
www.ago.ag
T. +49 (0) 9221 602 0
F. +49 (0) 9221 602 149
ir-ago@ago.ag
Investor Relations contact:
GFEI Aktiengesellschaft
Marcus Kapust
Am Hauptbahnhof 6
60329 Frankfurt am Main
www.gfei.de
T. +49 (0) 69 743 037 00
F. +49 (0) 69 743 037 22
ir-ago@gfei.de
End of Corporate News
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Language: English
Company: AGO AG Energie + Anlagen
Am Goldenen Feld 23
95326 Kulmbach
Deutschland
Phone: +49 (0)9221 602-0
Fax: +49 (0)9221 602-149
E-mail: info@ago.ag
Internet: http://www.ago.ag
ISIN: DE000A0LR415
WKN: A0LR41
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry
Standard in Frankfurt
End of News DGAP News-Service
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128142 10.06.2011
DGAP-News: AGO AG makes a successful start into 2011
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