EnergieKontor AG

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Annual Reports
Energiekontor AG increases turnover in 2001 by 43.5 percent Updated business plan lays the foundation for continued growth (E)

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Energiekontor AG increases turnover in 2001 by 43.5 percent Updated business plan lays the foundation for continued growth

Bremen, 27th March 2002. Energiekontor AG from Bremen earned a turnover of 101.273 million Euro in the financial year 2001 and this means that it increased its turnover by 43.4 percent compared with the previous year.  In 2000 the turnover was 70.577 million Euro. The company listed in the Frankfurt Neuer Markt made a profit of 9.024 million Euro before interest and tax (EBIT).  The earnings from normal business activity amounted to 10.026 million Euro, and the group profit amounted to 6.138 million Euro.  This is an increase of 9.6 percent up on the previous year, when the profit amounted to 5.6 million Euro.  The earnings per share amounted to 0.41 Euro in 2001. The equity ratio went up slightly from the previous year from 42.67 percent to 43.57 percent.

With these figures Energiekontor AG is at the upper limit of the band which the company reported for the financial year concerned on 21.12.2001.

Energiekontor AG is expecting a continuous growth in 2002 as well. Based on the historical figures to hand, the company is however adopting a more conservative approach to the growth it expects to make as originally anticipated.  This is why the business plan is being updated at the moment and is being adjusted to take the expected market conditions into account.

The updated business plan includes the following targets: - Annual Growth in turnover of 30 to 40 percent from 2001   onwards - An EBIT margin of about 11 percent from 2002 onwards

The project pipeline of Energiekontor AG - which is the basis for the company’s growth -  is exceptionally well-filled in Germany and in other European countries.  The liquidity of ca. 50.5 million Euro will ensure the further expansion of Energiekontor. However, it was not possible to fully achieve the growth underlying the original business plan.  It has turned out that the margins of projects bought in and the opportunity to finish them within the short-term is not sufficient to achieve a continuous contribution to growth.  

This is why the company will in future concentrate on acquisitions made by its own bases and their future growth.  Therefore, Energiekontor AG has already started in the second half of the year 2001 to strengthen the personnel capacities in Germany and abroad to achieve that goal.  Such projects promise a significantly higher margin since the company is canvassing the entire value creation chain.  In doing so it forms a firm basis for an updated business plan - it will be published shortly - and expresses the continued success of company development, just as it did in the Annual Report for 2001.

Finally, the build-up of a qualified workforce at Energiekontor has proven more difficult than expected in some areas.  Hence, the company has started with a strategic intra-company know how-transfer at the end of the passed business year.  This measure has been designed to help new employees from other business- and technical areas to adapt quickly to the development and realisation of wind power projects.

The Annual Report can be downloaded from the internet at www.energiekontor.de/ipo/berichte.htm

Contact: Martin Bretag, Head of Investor Relations Tel.: (+49-421) 3304-210 Christian Bredemeier Tel.: (+49-421) 3304-211 E-Mail: ir@energiekontor.de

end of announcement            euro adhoc 27.03.2002

Further inquiry note: Dipl. Kfm. Martin Bretag

Branche:        Alternative energy
ISIN:            DE0005313506
WKN:              531350
Börsen:         Freiverkehr an der Baden-Württembergische Wertpapierbörse,
Bayerische Börse, Börse Düsseldorf, Bremer Wertpapierbörse (BWB),
Hamburger Wertpapierbörse, Handelsüberwachung der Berliner
Wertpapierbörse, Niedersächsische Börse zu Hannover, Neuer Markt an
der Frankfurter Wertpapierbörse

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