Nov 5, 2012 ... 1/2. Interim Group statement by ALNO AG in accordance with §37x Securities
Trading Act (WpHG) for the third quarter 2012. • Group sales ...
Interim Group statement by ALNO AG in accordance with §37x Securities Trading Act (WpHG) for the third quarter 2012 •
Group sales continue to rise, increasing 2.4% to EUR 338.9 million
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EBITDA improves by EUR 21.3 million to EUR 8.8 million after adjustment for the cost of reorganization
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Break-even point almost reached: distinct improvement of EUR 23.1 million in EBIT to EUR -1.1 million
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Board of Management confidently expects a distinct improvement in EBITDA for 2012 as a whole
Pfullendorf, 16 November 2012 – ALNO AG, one of the leading kitchen manufacturers in Germany, has considerably improved its operating result (EBIT) as at 30 September 2012. In the first nine months of this financial year, the ALNO Group generated sales in the amount of EUR 338.9 million or 2.4% more than in the same period of the previous year (previous year: EUR 330.9 million). ALNO has benefited, in particular, from increased export activity and the improved position of its four Group brands ALNO, Wellmann, Impus and Pino. The ALNO brand accounted for the biggest rise in sales within the ALNO Group. Successful exports and optimization of the brand's positioning confirm the strategy pursued by the Board of Management. As a result of the company's successful development in this financial year, the Board of Management is confident that EBITDA for 2012 as a whole will be well over EUR +10 million. 1/2
The Group's successful reorganization is reflected above all in its earnings: in the first nine months of 2012, EBITDA for the ALNO Group rose to EUR +8.8 million after adjustment for the cost of reorganization (previous year's period: EUR -12.5 million). Before adjustment for the cost of reorganization (EUR 0.4 million), EBITDA totalled EUR +9.2 million. The operating result (EBIT) after adjustment for the cost of reorganization improved to EUR -1.1 million, a rise of EUR +23.1 million over the result in the same period of the previous year (EUR -24.2 million) and underscores the ALNO Group's turnaround. After an overwhelming majority of the ALNO shareholders agreed to the planned financing and capital concept at the Annual General Meeting on 21 August 2012, ALNO has now implemented the concept which was agreed with the main shareholders and banks in July.
Among other things, it provides for
an ongoing capital increase in the amount of EUR 46.2 million until 21 November 2012. "This truly comprehensive package will once again place the company on a sound financial base," said CEO Max Müller. Joint Venture in China ALNO has stepped up its export business in the first nine months of this year; in October, it set up a joint venture in Hong Kong with a local partner with a strong financial and sales background. ALNO intends to continue its expansion in the Chinese market by enlarging the nationwide network of dealers and opening further flagship stores. For ALNO, the Chinese market is one of the most important growth markets. This successful intensification of export activity is also clearly evident in Europe, too, with new customers in Denmark and Belgium, for example. "We are receiving extremely encouraging signals from the markets," said Elmar Duffner, Sales Director at ALNO AG. This applies equally for both exports and the domestic market.
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This interim statement is merely published for general guidance and constitutes neither an offer to sell nor a request to buy or subscribe for securities of ALNO AG. The public offer to subscribe to new shares of ALNO Aktiengesellschaft is made exclusively through and on the basis of the securities prospectus published on 5 November 2012. Any decision to invest in the publicly offered securities of ALNO AG should exclusively be based on the securities prospectus. The securities prospectus is available free of charge from the issuing bank, Wolfgang Steubing AG, as well as through the website of ALNO AG www.alno.de.
About ALNO AG: ALNO AG is one of Germany's leading kitchen manufacturers. With four national production facilities, the group supplies a complete range of kitchen products for the German and international markets. Beside the core ALNO brand, Wellmann (classic modern), Impuls (minimalist) and Pino (entry-level price segment) are also part of the ALNO Group Working with approximately 6,000 sales partners, the ALNO Group operates in over 64 countries across the globe. In the 2011 business year, some 1,800 members of staff generated sales worth € 453 million. Exports accounted for 28 percent of total sales.
Contact: ALNO AG Thomas Oberle Head of Corporate Communication/Investor Relations Heiligenbergerstrasse 47 88630 Pfullendorf Phone: +49 75 52 213 316 Fax: +49 / 75 52 / 21 – 77 3316 E-mail:
[email protected] www.alno.de
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