ALNO: earnings still on the up

Figures for the first nine months of 2013: EBIT improved – sales
lower than the previous year – incoming orders increased

Pfullendorf, 14 November 2013 – ALNO AG, one of the leading kitchen
manufacturers in Germany, has still managed to further improve its earnings
nine months into the current financial year. Operating profit (EBIT) amounted
to around 3.2 million euros on 30 September 2013. In the same period of the
previous year, ALNO recorded an EBIT as low as -1.1 million euros. Between
January and September, the company achieved sales of 293.6 million euros
compared to 338.9 million euros in the previous year (-13.4 per cent).
Incoming orders are on the increase and have been significantly higher than
the previous year's value since the end of September.

In the third quarter of 2013, ALNO AG saw sales reach 97.1 million euros,
representing an increase in one million euros over the second quarter of 2013 (96.1
million euros). In the second quarter, the difference in sales compared to the same
period of the previous year was -14.4 per cent. However, the company managed to
reduce this margin in the third quarter of 2013, the difference here being only -10.2
per cent compared to the third quarter of 2012.

Gross yield ratio continues to increase

Reduced material costs, a further improved cost structure such as the staff cuts in
spring 2013 at the Enger site, a number of one-off positive effects, a significantly
improved financial result and optimised production processes all contribute to
keeping ALNO AG's earnings on a positive path.

This is also reflected by the gross yield ratio which has been improved further. It is
now approaching 44 per cent in comparison to 41 per cent in the first nine months of
2012. CEO Max Müller: 'In the third quarter, we achieved an EBITDA of around 1.6
million euros, not taking one-off effects into account. This puts us back on the
positive side in operational terms.'

Boost from kitchen exhibition

The constantly increasing number of incoming orders is strengthening the
company's position even further. 'Our customers are coming back to us, there's no
doubt about it,' says Chief Sales Officer Ralph Bestgen. 'Our clear sales and price
policy is highly valued in the trade.' ALNO also received a great boost from the
highly successful kitchen exhibition 'DESIGN TOUR 2013' which took place in
September. 'We had more visitors than in previous years and received thoroughly
positive feedback. Our new products are being very well received by the trade,'
Bestgen continues. What is particularly pleasing is that the majority of customers
have already entered into agreements for next year.

Outlook

However, the market continues to be extremely competitive while at the same time
demonstrating a very downward trend, especially in Germany. Chief Executive
Officer Max Müller: 'In the summer months in particular, the market declined much
more than we expected, in part by double figures. This had a significantly negative
impact on our third quarter.' Based on development over the first nine months of
2013, the Board of Management anticipates a drop in sales by a single-digit
percentage. However, all in all, the Board of Management is expecting a generally
positive development in business for 2013 and a further improved EBIT and
EBITDA over 2012.

 

About ALNO AG:

ALNO AG is one of Germany's leading kitchen manufacturers. With four production sites in Germany, the
Group provides a full range of kitchens to both the German and international markets. The ALNO Group
includes not only the core brand ALNO but also Wellmann (classic/modern), Impuls (minimalist) and Pino
(entry-level price segment). The ALNO Group operates in more than 64 countries worldwide through about
6000 sales partners. In the 2012 financial year, the staff of about 1800 generated 446 million euros in
revenue. 28 per cent of revenue was generated abroad.

Contact:
Jürgen Schulze-Ferebee
Head of Corporate Communications & Investor Relations

Heiligenbergerstrasse 47
88630 Pfullendorf, Germany
Tel.: +49 75 52 21 – 33 16
Fax: +49 75 52 21 – 77 3316
E-mail: presse@alno.de
Internet: www.alno.de

Legal note:
This press release may contain particular statements about the future that are based on current assumptions
and prognoses made by the corporate management body of ALNO AG or its affiliated companies. Various
known and unknown risks and uncertainties as well as other factors may lead to significant deviations in the
actual results, financial position, development or performance of ALNO AG and its affiliated companies
compared to the estimations provided here. Neither ALNO AG nor its affiliated companies shall assume an
obligation to update such statements about the future or to adapt them to future events or developments.