2008 financials: Marginal sales reduction for the Group by 0.9% exceeding euro 285 m., increase in gross profit by 3.8%, EBITDA decreased by 8.4% in euro 37 m.; net earnings after taxes and minorities decreased by 50.3% in euro 4.7 m.
In detail, the Group presented a marginal reduction in sales by 0.9%, exceeding euro 285 m., compared to 287.6 m. in 2007; Gross profits reached euro 69.6mil. from euro 67 mil. in 2007, increased by 3.8%; EBITDA declined by 8.4%, reaching euro 37 m., compared to euro 42.9 m., in 2007 and EBT decreased by 49%, reaching euro 8.7 m., compared to euro 17 m., in 2007. Group net profitability (earnings after taxes and minorities) declined by 50.3%, reaching euro 4.7 m., compared to euro 9.5 m., in 2007.
Operational cash flows declined, producing though a surplus of euro 1.05 m. Net debt reached euro 174.8 m., presenting an increase compared to 2007 (euro 154.4 m.).
Group investments reached approximately euro 16.3 m. Parent company financials reported sales reduction by 14.3%, reaching approximately euro 204 m., compared to euro 238 m. in 2007. EBITDA decreased by 27.5%, reaching euro 12.4 m., compared to 2007 (euro 17.5 m.). EBT decreased by 67.7%, reaching euro 2.2 m., compared to 2007 (euro 6.8 m.) and net earnings after taxes and minorities, decreased by 24.5%, in euro 3.8 m., compared to euro 5 m., of 2007.
The reduction in the Group and Company results is mainly due to the decrease in demand for aluminium products, a result of the decreased construction and car making activity globally, which is the consequence of the financial and credit crisis which affected world economy in 2008, and is expected to continue affecting it, in 2009.
Parent company Board of Directors, proposes to the Annual General Shareholders? Meeting (GSM) euro 0.089 dividend per share. The total dividend payout is raised to euro 1,959,446 (31.12.2007: euro 3,082,275, euro 0.14 per share); the above decision to be approved by the GSM.
Financial data and information are published on Friday, March 30th, 2008, in the Hellenic newspapers "NAFTEMPORIKI" and "ELEUTHEROS TIPOS", and on Tuesday, March 31st in Kilkis (Greece) local newspaper "MAHITIS". 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 28 subsidiaries, 22 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, ALUMI?s Group sales surpassed euro 285 m. in 2008, while EBITDA reached euro 37 m.
(Symbols: Athens Stock Exchange: ΑΛΜΥ, Reuters: ALMr.AT, Bloomberg: ALMY GA, Telerate (Bloomberg): GR;ALMY).
Filoktimon Vakalis | Group Investor Relations & Research - Head
Tel: +30 2341079480 | Fax: +30 2341071988 | Investors@Alumil.com
Kilkis Industrial Area | 61100 Kilkis | Greece | www.alumil.com