AGOR AG
AGOR AG: AGOR AG reports a marked increase in revenue and earnings in 1st quarter
AGOR AG / Quarter Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- - Business model in tune with bull market for raw materials and climate change debate - Revenue up 32% to EUR 15 million - Disproportionate rise in EBITDA and EBIT - Start-up losses for new South German plant mean net profit for the period still slightly negative at EUR -0.17 million - Break-even now expected in 2nd quarter - Results on track for meeting forecast for 2008 Cologne, May 29, 2008. The first quarter of 2008 brought a marked increase in revenue and earnings for AGOR AG. The revenue of the group, which focuses on the recycling of salt slags from the aluminium industry, was boosted by 32% to EUR 15 million (prior-year period EUR 11.4 million). The key earnings figures EBITDA and EBIT even saw a disproportionate improvement. The operating result (EBITDA) rose by 46% to EUR 2.85 million (prior-year period EUR 1.95 million) and EBIT improved from EUR 0.364 million in Q1/2007 to EUR 0.859 million in Q1/2008. This dynamic performance demonstrates the success of the AGOR business model in a market situation that is characterized by steadily rising demand for raw materials and increased environmental awareness because of climate change. The recycling capacity available at the AGOR subsidiary ALSA was not quite able to keep up with the further rise in demand from aluminium recyclers for the environmentally acceptable recycling of the salt slags that occur during remelting, despite the partial commissioning of the new plant in South Germany. Although the throughput of the two existing plants in Lünen and Hanover that are already operating at full capacity was increased slightly by 3%, no significant increase will be possible until the new plant in South Germany has been fully commissioned. The latter plant's increase in capacity from approx. 50% in the first quarter towards full capacity is to be achieved gradually in the course of the second quarter of 2008. The net profit for the first quarter of 2008 was still dominated by the start-up losses for this plant. Although earnings after taxes showed an improvement of EUR 0.624 million on the prior-year period, the result was still negative, with a loss of EUR 0.174 million in Q1/2008 (Q1/2007: EUR -0.798 million). Break even is now expected to be achieved in the second quarter, along with the improved output of the new facility. Overall, the AGOR Group expects revenue for the full year to rise to EUR 60 million and an EBIT-based rate of return of around 5%. The results for the first quarter are entirely on track for meeting this full-year forecast. For further information, please contact: AGOR AG Harald Matschos Tel.: +49 221 914099-00 or: MetaCom Corporate Communications GmbH Georg Biekehör Tel.: +49 6181 98280-30 29.05.2008 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 ISIN: DE0005546006 WKN: 554600 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, München, Hamburg, Düsseldorf, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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