Alno AG publishes 2009 annual report and discloses preliminary figures for Q1 2010

ALNO AG / Final Results/Quarter Results

30.04.2010 11:00

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- Alno confirms business upswing
- Forecast for 2009 achieved: Positive EBIT of EUR 1.1 million before
extraordinary write-downs
- Profitability up again in Q1 2010 based on preliminary figures


Pfullendorf/Düsseldorf, April 30, 2010 - Alno AG today published its full
annual report for 2009. Growth was marked by a pleasing upswing last fiscal
year. Consolidated revenues lifted (as already reported in the ad hoc
announcement on April 27, 2010) by 5.6 percent from H1 to H2 as a result of
the stronger demand. At the same time, in the second half of the year the
Group recorded positive EBIT of EUR 3.7 million before extraordinary
write-downs, after still recording negative EBIT of EUR -2.6 million from
January to June 2009 before these write-downs.

These are one-off write-downs at the facility in Pfullendorf for property,
plant and equipment in the amount of EUR 21.3 million and the amortization
of goodwill in the amount of EUR 2.5 million as the result of impairment
testing as part of the 'ALNO 2013' concept. Instead of writing down these
amounts over the coming years, they were consciously booked as a lump sum
in 2009.

On the whole, revenues were down slightly over the entire year, however
Alno AG reached its forecast of recording balanced EBIT before
extraordinary write-downs. Over the year as a whole, revenues totaled EUR
493.4 million. This figure was thus 3.5 percent lower than the EUR 511.2
million recorded in 2008. This was primarily due to weak exports, which
were caused, in particular, by the real estate crisis in Southern Europe
and the UK. In addition, the Group consciously did away with low-margin
revenues in Germany, with the aim of increasing profitability. As a result,
EBIT increased to EUR 1.1 million before extraordinary write-downs,
compared to EUR 0.1 million in the previous year.

'Our business growth in 2009, and in particular the positive trend in the
second half of the year, clearly signal that the programs we have put in
place to turn Alno AG around are right on track,' commented the company's
CEO Jörg Deisel. 'We aim to bring this long-standing group back to being
financially healthy, competitive and sustainably profitable as fast as
possible. I am confident that we will be able to do this using our combined
forces if we put our 'ALNO 2013' plan into place as planned,' Mr. Deisel
added.

The positive earnings growth continued during the first quarter of 2010,
based on preliminary IFRS figures. EBIT lifted by EUR 2.1 million compared
to Q1 2008 to EUR -0.7 million. In view of the practically stable revenues
of around EUR 115 million (EUR 0.8 million lower than in the previous
year), this means that earnings quality has improved substantially.

Moreover, after the end of fiscal year 2009, key milestones were reached
for further growth with the Supervisory Board's approval of 'ALNO 2013' in
January, a positive recapitalization report and a financing agreement with
banks and shareholders in April. 'This agreement is clear commitment to
Alno and shows that the banks, our shareholders and we, the Managing Board,
are convinced that the turnaround will be a success. We believe that the
agreement sustainably secures the group's liquidity,' commented Jörg
Artmann, Alno AG's CFO. 'Our key tasks are now to make our product and
production standards even more uniform, to increase capacity utilization
and thus to further cut our costs. We aim to get back into competition,'
added Michael Paterka, Chief Production Officer.

Based on the positive start to fiscal year 2010 and the secured financing,
Alno AG is optimistic about the remainder of 2010. As a result of the
improvements to workflows already put in place and the ongoing
restructuring, the Managing Board believes that EBIT will continue to
increase compared to 2009.



Contact:

ALNO AG  
Head of Corporate Communication & Investor Relations 
Andrea Wolf
88629 Pfullendorf
Telephone: +49 / 75 52 / 21 - 33 16
Fax: +49 / 75 52 / 21 - 77 3316
E-mail: Andrea.wolf@Alno.de








30.04.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      ALNO AG
              Heiligenberger Straße 47
              88630 Pfullendorf
              Deutschland
Phone:        07552-21-0
Fax:          07552-21-773316
E-mail:       andrea.wolf@alno.de
Internet:     www.alno.de
ISIN:         DE0007788408
WKN:          778840
Listed:       Regulierter Markt in Frankfurt (General Standard), Stuttgart;
              Freiverkehr in Berlin, München, Düsseldorf
 
End of News                                     DGAP News-Service
 
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