"ALUMIL ALUMINIUM INDUSTRY S.A." administration announces stabilization in sales and improvement in gross profitability for the current period. In particular, Group presented decrease in sales by 3.8%, reaching € 146.9 m., compared to € 152.8 m. in 9M 2010.
Gross profits increased by approximately 4.7%, reaching € 32.9 m., compared to € 31.4 m. in 9M 2009, while EBITDA, increased by 38.2%, reaching € 15.3 m., compared to € 11.1 m. for 9M 2009. Earnings before taxes reached € 234 thousand, compared to 9M 2009 (losses € 6.4 m.). Consequently, losses per share reached € 0.0761 (Losses € 0.3371 for 9M 2009).
The further significant improvement in gross profitability, continues to be the fact that during the corresponding period in 2009, the company used expensive raw material (from the execution of purchase contracts of 2008), and to the reduction in production cost, brought about by the Administration?s effort to adapt to the new economic environment.
The significant improvement of results is mainly attributed to the increase in gross profit, in the reduction of operating costs after a concerted effort by the Administration, and the significant reduction in financial expenses due to reduced bank lending and loan restructuring.
Regarding parent company financials, 9M 2010 turnover slightly decreased by 1%, to € 104.3 m., compared to € 105.4 m. in 9M 2009. Losses before taxes reached approximately € 1.6 mil. compared to 9M 2009 (losses € 7 m.) and net results after taxes reached minus € 1.2 mil. compared to 9M 2009 (losses € 4.8 m.).
Data and Information of the Financial Statements are published on Monday, Novemebr 29th, 2010, in the Hellenic financial newspaper "IMERISIA". Aforementioned data are also available in the Alumil web site, www.alumil.com, along with the complete Financial Statements? report and the corresponding announcements.