AGO AG publish figures for the second quarter of 2010

• Q2 2010: Sales revenue in the amount of TEUR 9,205 (- 16.6 %); gross margin of 10.2 %
• First term of 2010: Sales revenue in the amount of TEUR 22,237 (+ 21.6 %); gross margin of 3.04 %
• Q2’s EBIT in the amount of TEUR 361 (+ TEUR 683)
• Order backlog by 30 June in the amount of TEUR 42,620 (+ 58.1 %)

Kulmbach, 31 August 2010: AGO AG Energie + Anlagen (cusip number: A0LR41, ISIN: DE000A0LR415) have today published their financial figures for the second quarter of 2010 according to IFRS accounting.

In the second quarter of 2010, sales revenues amounted to TEUR 9,205 (previous year: 11,039). Although sales revenues decreased by 16.6 percent compared to the previous year’s quarter, the gross margin of TEUR 583 could be increased by 60.7 percent to TEUR 937. Thus, the gross margin amounted to 10.18 percent (previous year: 5.28 percent). The result from ordinary operations (EBIT) increased from TEUR – 322 by TEUR 683 to TEUR 361. Also the group’s period result could considerably be improved from TEUR – 334 by TEUR 348 to TEUR 14.

Sales revenues registered in the first term of 2010 amounted to TEUR 22,237. Compared to the first term of 2009 (TEUR 18,284), that marks an increase by TEUR 3,953 or 21.6 percent. The gross margin of sales revenues amounted to TEUR 675 (previous year: TEUR 1,706). Accordingly, the gross margin for the first term of 2010 amounted to 3.04 percent (previous year: 9.33 percent). The gross margin’s decrease is especially due to valuation adjustments and the long, hard winter with heating costs in Alperstedt being high whilst the legal dispute is still ongoing. However, AGO AG is optimistic to find a solution in this year. In the first term of 2010, the result from ordinary operations (EBIT) decreased by TEUR 762 to TEUR -702 (previous year: TEUR 60). The group’s period result accounted for TEUR -838 (previous year: TEUR – 193). Accordingly, the result per share in the first term of 2010 at a total of 4,000,000 shares was EUR – 0.21 (previous year: EUR 0.05).

By 30 June 2010, the order backlog could be increased by 58.1 percent to TEUR 42,620. The amount of incoming orders was TEUR 27,615.

„The second quarter of 2010 is giving the right direction. Even if the result of the first term of 2010 is still marked by the little significant first quarter, we still forecast a considerable sales increase for the whole of 2010. As already done in past business years, we generate our major sales volume in the second part of the year”, says Hans Ulrich Gruber, speaker of the Board of AGO AG Energie + Anlagen.

The report of the second quarter of 2010 can now be downloaded

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.