ALNO AG: ALNO AG confirms profitable growth route
ALNO AG / Half Year Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
----------------------------------------------------------------------
In the first six months of the 2007 business year the ALNO Group achieved a
slight increase in sales of 2.5% to EUR 305.2 million (EUR 297.7 million
last year.) Development of the Group’s results was mainly influenced by
expenditure resulting from restructuring measures in the amount of EUR 6.5
million. In addition, ongoing high prices for raw materials and
half-finished products in the first six months of this year could not be
passed on to the market. The change in reporting procedure for the showroom
kitchen subsidies was also reflected in the results with a sum of around
EUR 3 million. On the basis of first application, the capitalization of
showroom kitchen subsidies applied up to now was relinquished as of January
1st 2007 and booked directly as expenditure. Last year’s results were
amended in accordance with regulations. After adjustment for costs of
restructuring measures, the ALNO Group’s earnings before interest, taxes,
depreciation and amortisation (EBITDA) for H1/07 is EUR 1.9 million
(previous year EUR 7.0 million). As forecast, the adjusted loss before
taxes (EBT) for the period under report was EUR –14.3 million (previous
year EUR –8.3 million). With restructuring measures taken into account, the
consolidated results are EUR –22.7 million, compared to EUR –11.3 million
in the same period in 2006.
Business development for the whole of 2007 is still seen as difficult. For
the whole of 2007, the company expects one-off and restructuring
expenditure in the double digit millions. At the same time, the total
implementation of urgent measures is expected to have a positive effect on
the second half-year. If all restructuring measures are completed during
the 2007 business year, ALNO reckons that it can already break even in
2008. ALNO reaffirms the target of achieving a profit margin of at least 5%
mid-term, thus within a period of two to three years.
01.10.2007 Financial News transmitted by DGAP
----------------------------------------------------------------------
Language: English
Issuer: ALNO AG
Heiligenberger Straße 47
88630 Pfullendorf
Deutschland
Phone: 07552-21-0
Fax: 07552-21-3400
E-mail: alexia.sailer@alno.de
Internet: www.alno.de
ISIN: DE0007788408
WKN: 778840
Listed: Amtlicher Markt in Frankfurt (General Standard), Stuttgart;
Freiverkehr in Berlin, München
End of News DGAP News-Service
---------------------------------------------------------------------------