AGOR AG
AGOR AG: AGOR AG announces official 2007 business figures – Bull market for raw materials and climate change assist business model
AGOR AG / Final Results/Miscellaneous Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- - Rise in Cash flow from operating activities of 37% to EUR 8.0 million - Rise in revenue of 1% to EUR 49 million - Rise in EBITDA of 9% to EUR 8.2 million - Negative EBIT due to delayed start-up of new plant in South Germany and special depreciation in Canada Cologne, April 21, 2008 AGOR AG The Management Board Additional statements by the issuer With sales of aluminium reaching new record levels and the gradual tightening of environmental protection requirements in the wake of the climate change debate, AGOR's aluminium salt slag recycling plants at Lünen and Hanover operated at maximum capacity and productivity in fiscal 2007. The fundamental success of the business model of AGOR AG, based on aluminium recycling, is also reflected in the cash flow from operating activities, which increased to EUR 8.0 million in 2007 (previous year EUR 5.8 million). The EBITDA of EUR 8.2 million likewise showed an increase on the prior-year figure (2006: EUR 7.6 million). However, there was only minor revenue growth to EUR 49.0 million (previous year EUR 48.5 million) as the new plant in South Germany was not yet able to achieve the target throughput during the period under review. The company expects the new plant in South Germany to reach the planned throughput in the course of 2008. The protracted commissioning phase led to unscheduled start-up losses in 2007 accumulated of EUR 4.1 million. In addition, as already reported in the third quarter, the Canadian salt slag plant was depreciated by EUR 5.1 million in 2007 due to low capacity utilization attributable to its location. The increased volume of depreciation and amortization of EUR -12.1 million forced EBIT down to EUR -3.9 million. Finally, the interest expense of EUR ‑3.0 million and the tax result of EUR -1.8 million reduced earnings after taxes to EUR -8.7 million (previous year EUR -0.8 million), representing earnings per share of EUR -0.53 (previous year EUR -0.05). Due to the delayed start-up of the new plant in South Germany talks are currently being held with the financial institutions about a possible delay of amortization payments. The company expects these talks to reach a positive conclusion in the course of 2008, especially as the process stability at the new plant is now steadily improving. Depending on the throughput of the South German plant, AGOR should be able to increase its revenue to over EUR 60 million in 2008. Overall, an EBIT-based rate of return of around 5% is expected. For further information, contact: AGOR AG CFO Harald Matschos Tel.: +49 221 914099-31 or: MetaCom Corporate Communications GmbH Georg Biekehör Tel.: +49 6181 98280-30 21.04.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: AGOR AG Theodor-Heuss Ring 28 50668 Köln Deutschland Phone: +49-(0)221-914099-17 Fax: +49-(0)221-914099-18 E-mail: info@agor-ag.com Internet: www.agor-ag.com ISIN: DE0005546006 WKN: 554600 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Hamburg, Stuttgart, München End of News DGAP News-Service ---------------------------------------------------------------------------
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