2007 financials presented Group sales growth by 18%, exceeding euro 287.6 m., EBITDA growth by 8.6% in euro 42.9 m.; net earnings after taxes and minorities increased by 26.4% in euro 9.5 m. Sound demand for high value-added products, increased shares in international markets and new commercial agreements, consist the growth drivers for the next three years.
ALUMIL administration announces with content a strong set of financial results for 2007, in line with initial estimates. In detail, the Group presented significant increase in sales by 18%, exceeding 287.6 m., compared to 243.7 m. in 2006; EBITDA grew by 8.6%, reaching euro 42.9 m., compared to euro 39.5 m., in 2006 and EBT increased by 15.8%, reaching euro 17 m., compared to euro 14.7 m., in 2006. Group net profitability (earnings after taxes and minorities) was raised significantly by 26.4%, reaching euro 9.5 m., compared to euro 7.5 m., in 2006. Earnings growth is mainly due to the strategic expansion in international markets. Parent company's financial performance is driven from the Group strategy to further enforce position in international markets:
Amounts in euro m. Group 2007 Group 2006 Change
(%) Parent 2007 Parent 2006 Change
(%)
Sales 287.6 243.7 18.0% 238 189.3 25.7%
Gross Profit 67.1 56.7 18.3% 31.2 29 7.3%
EBITDA 42.9 39.5 8.6% 17.5 17.8 -1.5%
EBT 17 14.7 15.8% 6.8 7.4 -8.2%
EAT & M 9.5
7.5 26.4% 5
5.2 -4.4%
Note: growth figures may present deviations due to roundings.
Operational cash flows significantly improved for the second consecutive period, producing a strong surplus of euro 11.3 m.; an outcome sourced mainly from the credit policy and the international aluminium market conditions. Net debt reached euro 154.4 m., presenting a small decrease compared to 2006 (euro 155.9 m.).
Group investments reached euro 20.2 m. approximately, for supplementary equipment and upgrade the existing equipment in Bosnia, Xanthi and Kilkis (Greece) complexes.
Group earnings and growth were driven primarily by the high quality of ALUMIL products and from the international markets, namely SE Europe, Turkey, Russia, Western Europe and the wider Gulf area; it should be noted that Group resumes a important position in the later area, having undertaken 55 large scale projects already. An indicative project is from the recent agreement for the provision of architectural profile systems for 1,300 luxurious villas in Bahrain, located on an artificial island complex, known as the "Durrat Al Bahrain".
Moreover, subsidiary "ALUMIL ROM" IPO's in Bucharest Stock Exchange was successfully finalized, attributing economies of scale to the Group and commercial agreements of major importance were signed with the Russian construction group "K CONSTRUCTION Ltd" and the Greek "BIOSAR ENERGY", member of the ELLINIKI TECHNODOMIKI TEB Group, for the construction of photovoltaic (PV) frames.
Parent company financials reported sales growth by 25.7%, reaching euro 238 m., compared to euro 189.3 m. in 2006. EBITDA (accounting for currency exchange differences), decreased by 1.5%, reaching euro17.5 m., compared to 2006 (euro 17.8 m.). EBT decreased by 8.2%, reaching euro 6.8 m., compared to 2006 (euro 7.4 m.) and net earnings after taxes, decreased by 4.4%, in 5 m., compared to euro 5.2 m., of 2006.
Parent company Board of Directors revising 2007 financials, proposes to the Annual General Shareholders' Meeting (GSM) - proposed date is set on Friday, 6.6.2008 - euro 0.14 dividend per share. The total dividend payout is raised to euro 3,082,275 (31.12.2006: euro 1,827,349, euro 0.083 per share); the above decision to be approved by the GSM.
It is noted that the dividend policy is closely related to Group and Company performance, the strategic expansion and furthermore with the capital expenditure plan.
Based on the above, double digit growth is expected in Group financials for 2008 as well.
Financial data and information are published on Friday, March 28th, 2008, in the Hellenic newspapers "EXPRES" and "KATHIMERINI", and in Kilkis (Greece) local newspaper "IMERISIA". The same day, the aforementioned data will be available in the Alumil web site, www.alumil.com, along with the complete financial statements report and the relative press releases.
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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 27 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 eight times in GrowthPlus' Europe's 500, ALUMIL Group sales surpassed euro 287 m. in 2006, while EBITDA reached euro 43 m.
(Symbols: Athens Stock Exchange: ΑΛΜΥ, Reuters: ALMr.AT, Bloomberg: ALMY GA, Telerate (Bloomberg): GR;ALMY).
Apostolos Papadopoulos-Almeida | Group Investor Relations & Research Head
Tel: +30 2341079480 | Fax: +30 2341071988 | Investors@Alumil.com Ki
lkis Industrial Area | 61100 Kilkis | Greece | www.alumil.com