American DG Energy Reports First Quarter 2015 Financial Performance

WALTHAM, Mass., May 13, 2015 /PRNewswire/ -- American DG Energy Inc. (NYSE MKT: ADGE), a leading On-Site Utility™, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and fitness facilities, reported total revenues of $2,507,740 in the first quarter of 2015, compared to $2,527,800 for the same period in 2014.  GAAP diluted loss per share (EPS) was $0.02 in the first quarter of 2015, compared with a GAAP diluted loss per share of $0.03 for the same period in 2014.

Major Highlights:

Financial

• As a result of our site productivity efforts, total non-GAAP gross profit margin without depreciation improved sequentially to 31.1% in the first quarter of 2015, from 27% in the fourth quarter of 2014.
• Consolidated EBITDA cash outflows improved sequentially and were $430,535 in the first quarter of 2015, versus $735,109 in the fourth quarter of 2014. EBITDA cash outflows were $131,568 for American DG Energy in North America and $298,967 for EuroSite Power in the first quarter of 2014.
• As a result of our productivity efforts, sites at American DG Energy in North America, produced a margin before depreciation of 35% in the first quarter of 2015 versus 31% in the fourth quarter of 2014 and 32% in the year ago period. 
• The total revenue value of our On-Site Utility™ energy agreements since inception is approximately $321.5 million using various market assumptions and estimates made by the Company.

Operations

• We currently operate 126 energy systems and our current backlog consists of 21 energy systems.
• First quarter revenue was attributable to the following core markets:

• First quarter revenue by energy type is outlined in the following table:

• During Q1 2015 we reached agreements for:
  • A 150 kW CHP system with an apartment complex in the Bronx, New York
  • A 125 kW CHP system with Kingfisher Leisure Centre, Sudbury, UK
  • A 125 kW CHP system with Basingstoke Sports Centre, UK.
• During Q1 2015 we brought into operation a total of 4 additional systems:
  • 100 kW CHP systems for FJB Hotels installed at both their Haven Hotel and Sandbanks Hotel properties in Poole, UK
  • A second 100kW CHP system at the Wentworth Golf Club, home of the BMW PGA Championship
  • The third CHP system installed as part of our contract with Topland Group for seven systems – 120 kW unit at Menzies Cambridge
• The total number of systems now under contract is 147, totaling 10,415kW and 4,855 tons of cooling.
• In total we currently operate 126 systems totaling 8,511kW of installed capacity with a total contract value of $264.8 million.

American DG Energy will hold its earnings conference call today, May 13, 2015 at 2:30 p.m. Eastern Time. To listen, call (866) 364‑3819 within the U.S., (855) 669-9657 from Canada, or (412) 902-4209 from other international locations.  Participants should reference American DG Energy to access the call.  Please begin dialing at least 10 minutes before the scheduled starting time.  The earnings press release will be available on the Company web site at www.americandg.com in the "Investors" section under "News Releases." 

The earnings conference call will be recorded and available for playback one hour after the end of the call through Friday, June 12, 2015.  To listen to the playback, call (877) 344‑7529 within the U.S., (855) 669-9658 from Canada, or (412) 317-0088 outside the U.S. and use Conference Number 10065454.

The earnings conference call will also be webcast live.  To register for and listen to the webcast, go to http://investors.americandg.com/webcast.  Following the call, the webcast will be archived for 30 days.

About American DG EnergyAmerican DG Energy supplies low-cost energy to its customers through distributed power generating systems. We are committed to providing institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by local utilities - without any capital or start-up costs to the energy user - through our On-Site Utility™ energy solutions. American DG Energy is headquartered in Waltham, Massachusetts. Learn more about how American DG Energy reduces energy costs at www.americandg.com or follow us on Facebook and Twitter.

FORWARD-LOOKING STATEMENTSThis press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and in Securities and Exchange Commission filings. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

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SOURCE American DG Energy Inc.