AGO AG Energie + Anlagen: Release of the 2008 semi-annual report

+++ 2008’s first term’s revenue of EUR 14.81 million according to plan
+++ Gross profit margin exceeds 13 percent
+++ Significant revenue and profit increase expected for 2008

Kulmbach, 14 August 2008: AGO AG Energie + Anlagen (cusip number: A0LR41; ISIN: DE000A0LR415), a leading operator and constructor of biomass cogeneration plants in Germany, could achieve sales revenues of EUR 14.81 million in the first term of 2008 (previous year: EUR 21.15 million). The revenue’s gross result increased to EUR 1.99 million within the first six months of 2008. Compared to the previous year’s value of EUR 1.42 million this represents an increase of 40 percent. The gross profit margin accordingly improved to 13.41 percent (previous year: 6.69 percent). The EBIT with EUR 0.58 million was 11 percent above the previous year’s value of EUR 0.52 million. Less the financial and tax result as well as the minority interests a period result of the Group in the amount of EUR 0.15 million (previous year: EUR 0.09 million) was achieved.

The planned decrease in turnover in the first term of 2008 of about 30 percent compared to the previous year is basically due to cyclic project business. Thus, in the current year of 2008 the main turnover is going to be generated in the third and fourth quarter. Incoming orders in the first six months of the 2008 business year however were satisfactory. Compared to the previous year’s value they increased by 54.64 percent to approximately EUR 30.0 million. Already in July of 2008 incoming orders gained further dynamic and could be increased to approximately EUR 39.0 million. For the entire 2008 business year the BOD is expecting revenues of far more than 40 million. The EBIT is to improve remarkably by the end of the 2008 business year and is supposed to be a multiple of the first term’s EBIT.

On the 2008 semi-annual report’s due date, AGO AG Energie + Anlagen reported equity capital in the amount of EUR 12.59 million (previous year: EUR 11.43 million). The equity ratio improved by 9.85 percentage points to 36.92 percent compared to the previous year’s value. At the same time, liquid assets decreased for investment and financing reasons on the balance sheet date of the 2008 semi-annual report from EUR 10.39 million (as at: 30 June 2007) to EUR 4.14 million.

“We are satisfied with AGO AG’s development in the first term of 2008. We could not just increase our incoming orders in the first term of 2008 by more than 54 percent compared to the previous year, we could actually gain orders in the amount of about EUR 9 million in the subsequent month. This development makes clear that AGO AG Energie + Anlagen as a specialist for biomass heating stations and biomass cogeneration plants significantly benefits from the developments of this business sector – high oil price, CO2 climate discussion, increasing energy costs, energy efficiency, energy contracting. With the initiation and implementation of the climate protection program for medium-sized companies we have moreover established the basis to profit from the growth market “energy generation from biomass” in the future. Also our structure optimization, the promotion of our expansion throughout Europe as well as the expansion of the operational business in Germany prove to be positive and promising at the same time. Owing to that, we are confident to be able to considerably increase revenues and profits in 2008 as opposed to the previous year”, according to Hans-Ulrich Gruber, CFO of AGO AG Energie + Anlagen.

The semi-annual report is now available to download

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 and municipalities. Main focus of AGO AG Energie + Anlagen is laid on the following business divisions: plant development and implementation, as well as service and consulting. The core competence of the company mainly commits to thermal power stations, to heating, cooling and ventilation technology plant construction, biomass cogeneration plants and trigeneration. Site studies and development, consulting in energy efficiency, resource and fossil fuel management as well as emission trade management – these factors complete the business model. AGO symbolizes efficiency, security and technological competence of your energy supply facilities.