ALUMIL ALUMINIUM INDUSTRY S.A.
First Half 2008 Financials' Announcement
First Half 2008 Financials' Announcement
1H 2008 Group results: sales grew by 2.3%, gross profits increased by 20.1% and net earnings by 5.4%, mainly due to increased demand for the Group?s products and the international expansion strategy where high net worth products hold a leading role.
"ALUMIL MILONAS - ALUMINIUM EXTRUSION INDUSTRY S.A. " administration announces growth in sales, as well as in gross and net profitability for the first half of 2008 due mainly to its international presence. Group financials, compared to competitors domestically and internationally, revealed once again Group dynamism and prospects in forthcoming years. In particular, Group presented an increase in sales by 2.3%, reaching 141 m. euro, compared to 137.8 m. euro in 1H '07.
Gross profits grew by approximately 20.1%, reaching 37.6 m. euro, compared to 31.3 m. euro in 1H '07, while adjusted EBITDA (excluding grants' depreciation), increased by 5.8%, reached 21.9 m. euro, compared to 20.7 m. euro for 1H '07. Earnings before taxes decreased by 3.5%, reached 9.1 m. euro, compared to 1H '07 (9.5 m. euro). Group net earnings (after taxes and minority interests) increased by 5.4% compared to 1H '07 reaching 6.8 mil. euro (6.4 mil. euro in 1H '07). Earnings per share reached 0.21 euro (0.22 euro for 1H '07). Results are viewed as clearly satisfactory by the administration, given the overall unfavorable economic conditions in Greece and the European Union.
Group investments for the current period reached 6.6 m. euro, related to upgrade of machinery and purchase of complementary equipment in Kilkis, Xanthi, Komotini, Serbia, Albania and Romania production sites. Regarding parent company financials, 1H '08 turnover decreased by almost 7.4%, to 106 m. euro, compared to 114.5 euro in 1H '07 mainly due to the fact that part of Parent company "ALUMIL MILONAS S.A" towards its subsidiaries' in Bulgaria and Romania were resumed by Greek subsidiary "ALUNEF S.A." because of its favourable location. EBITDA (excluding grants' depreciation), decreased by 4.5% to 8.5 m. euro, compared to 1H '07 (8.9 m. euro approximately). Earnings before taxes decreased by 43.5%, to 2.7 m. euro, compared to 1H '07 (4.8m euro) and net earnings after taxes decreased by 50%, to 1.7 m. euro, compared to 3.8 m. euro of 1H '07, mainly due to the increase in financial expenses caused by the increase in interest rates and the increase in transport expenses caused by the increase in international oil prices.
Data and Information of the Financial Statements are published on Thursday, August 28th, 2008, in the Hellenic financial newspaper "NAFTEMPORIKI". Aforementioned data are also available in the Alumil web site, www.alumil.com, along with the complete Financial Statements' report and the corresponding announcements. -------------------
ALUMIL is ranked among the largest aluminium extrusion and profiles production private European groups (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 provides 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 for its contribution to the European economy, ALUMIL Group sales surpassed 287 m. euro in 2007, while EBITDA reached 43 m. euro.
1H 2008 Group results: sales grew by 2.3%, gross profits increased by 20.1% and net earnings by 5.4%, mainly due to increased demand for the Group?s products and the international expansion strategy where high net worth products hold a leading role.
"ALUMIL MILONAS - ALUMINIUM EXTRUSION INDUSTRY S.A. " administration announces growth in sales, as well as in gross and net profitability for the first half of 2008 due mainly to its international presence. Group financials, compared to competitors domestically and internationally, revealed once again Group dynamism and prospects in forthcoming years. In particular, Group presented an increase in sales by 2.3%, reaching 141 m. euro, compared to 137.8 m. euro in 1H '07.
Gross profits grew by approximately 20.1%, reaching 37.6 m. euro, compared to 31.3 m. euro in 1H '07, while adjusted EBITDA (excluding grants' depreciation), increased by 5.8%, reached 21.9 m. euro, compared to 20.7 m. euro for 1H '07. Earnings before taxes decreased by 3.5%, reached 9.1 m. euro, compared to 1H '07 (9.5 m. euro). Group net earnings (after taxes and minority interests) increased by 5.4% compared to 1H '07 reaching 6.8 mil. euro (6.4 mil. euro in 1H '07). Earnings per share reached 0.21 euro (0.22 euro for 1H '07). Results are viewed as clearly satisfactory by the administration, given the overall unfavorable economic conditions in Greece and the European Union.
Group investments for the current period reached 6.6 m. euro, related to upgrade of machinery and purchase of complementary equipment in Kilkis, Xanthi, Komotini, Serbia, Albania and Romania production sites. Regarding parent company financials, 1H '08 turnover decreased by almost 7.4%, to 106 m. euro, compared to 114.5 euro in 1H '07 mainly due to the fact that part of Parent company "ALUMIL MILONAS S.A" towards its subsidiaries' in Bulgaria and Romania were resumed by Greek subsidiary "ALUNEF S.A." because of its favourable location. EBITDA (excluding grants' depreciation), decreased by 4.5% to 8.5 m. euro, compared to 1H '07 (8.9 m. euro approximately). Earnings before taxes decreased by 43.5%, to 2.7 m. euro, compared to 1H '07 (4.8m euro) and net earnings after taxes decreased by 50%, to 1.7 m. euro, compared to 3.8 m. euro of 1H '07, mainly due to the increase in financial expenses caused by the increase in interest rates and the increase in transport expenses caused by the increase in international oil prices.
Data and Information of the Financial Statements are published on Thursday, August 28th, 2008, in the Hellenic financial newspaper "NAFTEMPORIKI". Aforementioned data are also available in the Alumil web site, www.alumil.com, along with the complete Financial Statements' report and the corresponding announcements. -------------------
ALUMIL is ranked among the largest aluminium extrusion and profiles production private European groups (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 provides 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 for its contribution to the European economy, ALUMIL Group sales surpassed 287 m. euro in 2007, while EBITDA reached 43 m. euro.