Good start into 2014 following a weak 2013 financial year

Ad hoc release per § 15 Securities Trading Act (WpHG)

Pfullendorf, 31 March 2014 – The ALNO AG Supervisory Board today adopted the consolidated and separate financial statements of ALNO AG for the 2013 financial year. The ALNO Group recorded 2013 sales of 395.1 million euros, down 11.5% versus 2012 (446.3 million euros). Sales volume was negatively affected by the Group restructuring and a one-off price increase in 2012. Last year's weak summer had a negative impact as well. Declining sales were partially offset by staff reduction and other measures including cutting fixed costs. International sales – including the Austrian market, which is served almost exclusively by a group of German distributors – were up by approximately 1.4 million euros (1.1%). International sales excluding Austria were up by 7.5 million euros (8%), while domestic sales declined in 2013.

EBITDA came in lower year-on-year at 5.5 million euros (2012: 14.0 million euros). EBIT improved however in financial year 2013, up nearly 34% to 1.2 million euros (2012: 0.9 million euros). After tax, a consolidated net loss of 10.7 million euros was recorded for 2013, coming after a loss of 1.4 million last year. Last year's consolidated net loss resulted in part from a one-off debt waiver in the amount of 8.9 million euros.

The financial structure was further improved in 2013. Current liabilities fell as a percentage of total liabilities from 84.3% (2012) to 54.6% in 2013. Financial expenses declined by 2.9 million euros versus 2012. The financial result was still lower year-on-year however at -8.4 million euros (2012: -2.1 million euros). The 2012 financial result reflected the positive one-off effect of a debt waiver in the amount of 8.9 million euros.

After the Küchenmeile A30 trade fair last autumn, business picked up overall. In March 2014 order volume was 10% higher versus the same quarter last year.

The Board of Management estimates EBITDA of between 20 to 25 million euros for 2014. Estimates reflect one-off effects from the AFG Küchen AG acquisition. ALNO AG expects the projected economies of scale yielding an estimated 15 to 20 million euros in savings (full-year effect), realisable starting in 2015. The purchase price allocation effects are already initially factored into the consolidated financial statements dated 31 March 2014. These will significantly improve the balance sheet structure – particularly equity.

About ALNO AG:

ALNO AG is one of Germany's leading kitchen manufacturers, with a staff of around 2,300 employees. From its seven international production sites the corporation provides a full range of kitchens to the German market and international markets. In addition to the core ALNO brand the ALNO Group also owns the brands Wellmann, Impuls, Pino, Piatti and Forster Swiss-made steel kitchens. The ALNO Group sells in more than 64 countries worldwide through over 6,000 distribution partners. In financial year 2013 the company recorded sales revenue of 395 million euros. Around 33 per cent of revenue was generated abroad.

Contact:

Jürgen Schulze-Ferebee
Head of Corporate Communications & Investor Relations

ALNO AG
Heiligenbergerstrasse 47
88630 Pfullendorf, Germany
Phone: +49 / 75 52 / 21 – 33 16
Fax: +49 / 75 52 / 21 – 77 3316
Email: presse@alno.de
www.alno.de

Legal note:

This ad hoc release may contain particular 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 versus opinions and estimates provided here. Neither ALNO AG nor its affiliated companies assume any obligation to update such forward-looking statements or revise these in light of future events or developments.

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