ALNO AG interim consolidated earnings report for Q1 2014 per § 37x WpHG

Pfullendorf, 15 May 2014 – On 25 March, ALNO AG completed the acquisition of
Swiss kitchen manufacturer AFG Küchen AG (renamed AFP Küchen AG). Based on
the purchase price allocation conducted by the accounting firm of Deloitte & Touche,
as of the end of the first quarter of 2014, ALNO AG had a consolidated net income
of 29.7 million euros (Q1 2013: -2.1 million euros). Equity capital increased to 18.3
million euros (Q1 2013: -9.5 million euros), thus returning to the positive side after
eight years in the red. The net assets of AFP Küchen AG are significantly greater
than its purchase price.

Quarterly earnings for ALNO AG including AFP Küchen AG
At 122.5 million euros, sales of ALNO AG in Q1 2014, including sales of AFP
Küchen AG, fell just short of its own projections. This development was primarily
due to the decline in large-surface sales, the postponement of individual projects
abroad and a persistently weak domestic market. EBITDA for ALNO AG including
AFP Küchen AG in Q1 2014, based on the preliminary purchase price allocation,
was 37.8 million euros, EBIT 32.4 million euros and consolidated net income 29.7
million euros.

Quarterly earnings for ALNO AG excluding AFP Küchen AG
In the first quarter of 2014, sales of ALNO AG excluding AFP Küchen AG were 96.8
million euros compared to 100.4 million euros during the same period last year
(including 3.9 million euros in special items). EBITDA totalled -2.2 million euros
versus 3.2 million euros in the comparison period. EBIT was -5.7 million euros
(previous year: -0.1 million euros). Consolidated net income was -8.5 million euros.
Due to special items in the amount of 5.5 million euros, consolidated net income in
Q1 2013 totalled -2.1 million euros.

AFP Küchen AG quarterly earnings
In the first quarter, which is typically a slow season, AFP Küchen AG generated
sales of 25.7 million euros – a 13.7% increase over the same period last year (22.6
million euros). EBITDA for the first quarter was -3.3 million euros (2013: -3.3 million
euros), EBIT -4.0 million euros (Q1 2013: -3.9 million euros) and net income for the
period -4.5 million euros (Q1 2013: -4.3 million euros). The outlook for the coming
months is very positive. Orders on hand for AFP Küchen AG for the current 2014
financial year totalled 82 million euros as of the end of March, already up 15.8%
from the same period last year.

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

Legal note:
This interim earnings report may contain certain forward-looking statements that are based on current
assumptions and prognoses made by the corporate management 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 from the opinions and estimates provided here. Neither ALNO AG nor its affiliated companies are
under any obligation to update such forward-looking statements or to revise them in light of future events or