DGAP-News: AGO AG Energie + Anlagen / Key word(s): Final Results AGO AG publishes 2011 figures 30.04.2012 / 12:00 --------------------------------------------------------------------- Corporate News of 30 April 2012 AGO AG publishes 2011 figures - Sales revenue 2011: EUR thousand 69,452 (+46 percent) - EBIT 2011: EUR thousand 264 (prior year: EUR thousand -7,760) - Gross margin 2012: Strong improvement - Q1 2012: Positive development on the basis of preliminary figures - Outlook 2012: Positive results for core business anticipated Kulmbach, 30 April 2012: AGO AG Energie + Anlagen (WKN: A0LR41, ISIN: DE000A0LR415) is publishing the Consolidated Financial Statements 2011 in accordance to IFRS accounting standards. During the business year 2011, which was marked by the consistent implementation of the new corporate strategy with the concentration on the integrated project management of decentralized energy supply systems, from design and engineering to construction and service, sales revenue increased by 46 percent from EUR thousand 47,632(*) to EUR thousand 69,452. Sales revenue was thus at its highest level ever in 32 years of company history. Gross margins significantly augmented from 3.0 percent to 4.3 percent. EBIT amounted to EUR thousand 264, an improvement over the prior year's operative result of EUR thousand -7,760. Consolidated net income showed a clearly positive development at EUR thousand -1,555 for the year 2011 (previous year: EUR thousand -8,309). But despite the strong performance, the high utilization of capacities and the execution of low-margin orders from 2010 influenced the year 2011 in particular. Plant operations and the disposal of one Italian equity participation also weighed negatively on the Consolidated Financial Statements of 2011. The operative strategy concentrates on the core strengths of AGO AG in its business activities and also envisages the gradual withdrawal from plant operations as contracting model. Special focus is laid on the engineering of complex combined heat and power plants and related energy technologies, including absorption chillers and steam generation systems. Depending on the timing of disposal of the equity investment, the withdrawal from plant operations should be completed by end of 2012. Cash and cash equivalents equaled at EUR thousand 7,434 (previous year: EUR thousand 9,877) on 31 December 2011 even with considerable investments into property, plant and equipment during 2011. With total assets of EUR thousand 31,800 (previous year: EUR thousand 36,908) on 31 December 2011, equity ratio improved to 15.05 percent (previous year: 13.14 percent). Incoming orders totaled approximately EUR 53.3 million on 31 December 2011 and order backlog amounted to about EUR 28.2 million. 'To achieve positive and economically balanced capacity utilization, we determined that it was necessary to reduce our order backlog in the transitional year 2011. Projects with sensibly better margins were and are still in our focus. At year-end 2011 already, the lower volume of incoming orders was reflected in the financial figures. The positive results are becoming apparent to their full extent in the financial statements of 2012,' commented Hans Ulrich Gruber, CEO of AGO AG Energie + Anlagen. According to the preliminary figures for the first quarter of 2012, sales revenue of AGO AG Energie + Anlagen totaled EUR 11.2 million. With that sales revenue was, about 36 percent below prior-year level (Q1 2011: EUR 17.4 million), but gross margins could increase to 7.5 percent (Q1 2011: 4.5 percent). 'The first quarter 2012 demonstrates that strategically, we are moving into the right direction. Substantial growth with a consistent long-term trend comes from sensibly better margins earned of the execution of our orders. In line with the volume adjustment, combined incoming orders totaled EUR thousand 6,731 on 31 March 2012 and order backlog was at EUR thousand 24,400. Along with our new strategy and the planned disposal of our equity investments in Italy, we also expect positive results for our core business in 2012. Also in the years to come, we are anticipating sustainable profit growth,' said Hans Ulrich Gruber, CEO of AGO AG Energie + Anlagen. The Annual Report 2011 of AGO AG Energie + Anlagen is now available for download at www.ago.ag in the Investor Relations area. *Remark: During the year 2011, AGO AG Energie + Anlagen has decided to sell its Italian equity participations in 2011 and partly already implemented. . As a result, these activities have been classified as discontinued operations. According to IFRS 5.34, designed to ensure better comparability, the profit and loss statement figures for 2011 must include figures for 2010 as if the discontinued operations in 2011 were also presented as discontinued operations in 2010. For this reason, the prior year's figures in the 2011 profit and loss statement differ from the disclosures in the 2010 Annual Report. 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 is laid on the three business divisions: design, engineering and construction of plants and service and consultation. The core competencies of the company mainly commit to biomass cogeneration plants and combined heat and power stations for heating and cooling plant construction and tri-generation (the simultaneous production of electricity, heat, and cooling). Site studies and development, energy efficiency consulting, resource and fossil fuel management as well as emission trade management - these areas round out the AGO business model. The name AGO symbolizes the efficiency, security and technological competence of its energy supply facilities. 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 --------------------------------------------------------------------- 30.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: AGO AG Energie + Anlagen Am Goldenen Feld 23 95326 Kulmbach Germany 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 --------------------------------------------------------------------- 167402 30.04.2012
DGAP-News: AGO AG publishes 2011 figures
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