1H 2007 Results: posting a sound, 25.5% growth in consolidated turnover and 15.4% in net earnings, Alumil Administration revises upward initial estimates. Despite the volatile aluminium price environment, demand for high value-added aluminium products remains the growth driver for the next five years.
Alumil administration announces with content for another semi-annual period, turnover and earnings boost. Particularly, Alumil Group presented a 25.5% sales growth, exceeding euro 137.8 m., compared to euro 109.85 m. in 1H 2006. Growth stemmed mainly from architectural and industrial profile sales, with automation systems, shading systems, polycarbonate sheets and composite panels (namely J-Bond) consisting an important part of consolidated turnover.
EBITDA (earnings before interest, taxes, depreciation and amortization) surmount euro 21.63 m., a 10% increase, compared y-o-y to euro 19.7 m., 1H '06 results. EBT grew by 22.3%, reaching euro 9.47 m., compared to euro 7.75 m. in 1H '06. Group net earnings (after taxes and minority interests) surpassed euro 4.86 m. posting a 15.4% growth (compared to euro 4.2 m. in 1H '06). Consequently, EPS reached euro 0.22, compared to euro 0.19 in 1H '06.
Group investments reached euro 10.9 m., headed primarily to upgrade machinery and for auxiliary equipment to Bosnia, Xanthi and Kilkis industrial complexes.
Balkans markets are clearly turned the undisputed growth drivers, with total non-current assets investments exceeding euro 60 m. Romania, Serbia, Bosnia and Albania are now playing leading roles. Group exposure to the above economies, in tandem with growth from Cyprus and the Gulf Area, is expected to increase income during the second half of the year, traditionally more active and effective compared to the first one; further, important boost is expected to arrive from the new production lines in Kilkis, Xanthi (Greece) and Bosnia.
The state-of-the-art complex in subsidiary METRON (Serres, Greece), produces automation systems for elevators, having demand - sourced from the international markets - exceeding best estimates.
Commenting on the international markets, Gulf Area and the U.S.A. market could answer for steady Group growth, over initial estimates, for the 2008-2012 period. Business plan for the US market will involve a five year period, during which, the Group improves its financials significantly.
In respect to parent company, turnover reached euro 114.5 m., an increase of 27%, compared to euro 90 m. of 1H'06 results. Earnings before interests, taxes, depreciation and amortization (EBITDA, after foreign exchange differences) reached euro 9 m., a decrease of 11.4% compared to euro 10.26 m. of 1H' 06 results, during which, exceptional income was realised. EBT over passed euro 4.75 m., a significant increase of 24% approximately, compared to euro 3.83 m. of 1H' 06. Net earnings after taxes posted a significant increase of 31.7% exceeding euro 3.48 m., compared to euro 2.65 m. of 1H'06, influenced partly by the increased income (dividends) from subsidiaries.
Financial data and information are published on Wednesday, August 29th, in the Greek newspaper "EXPRESS". The aforementioned data will be available in the Alumil web site, www.alumil.com, along with the complete financial statements report and the related press releases.
ALUMIL is ranked among the largest aluminium extrusion and profiles production private European group (No 1 in Greece since 2000) establishing production sites, large sales networks and warehouses for products targeting architectural & industrial use, shipbuilding, transportation, etc. With 26 subsidiaries, 20 of which are spread throughout Europe, Africa and the Middle East, ALUMIL offers production sites in four Hellenic industrial areas, Romania, Bulgaria, Serbia, Bosnia and Albania. ALUMIL has successfully infiltrated into 45 markets in Europe, the Balkans, the M. East and in the U.S.A. A significant competitive advantage remains its widespread sales network in Greece and in every client-country. Parent company was founded in 1988 and since 1998 is listed in the Athens Stock Exchange. Included seven times in GrowthPlus' Europe's 500, ALUMIL Group sales surpassed euro 243 m. in 2006, while EBITDA exceeded euro 39.5 m.
Apostolos Papadopoulos-Almeida | Group Investor Relations & Research - Head Tel: +30 2341079480 | Fax: +30 2341071988 | Investors@Alumil.com Kilkis Industrial Area | 61100 Kilkis | Greece | www.alumil.com