Press Releases: Greece

ALUMIL MILONAS S.A.

2006 Financials

March 29, 2007 2006 Financials: The Group presents remarkable growth and improvement, fully exploiting all new investments in the Balkans area: Group sales grew by 28.6% - Euro 243 m., EBITDA increased 24.6% - Euro 39.5 m., net earnings AT&M boosted 75.5% - Euro 7.5 m., with high Euro 18.9 m. operational cash flows created and slight overall debt decrease. Despite the volatile international economic conditions, ALUMIL now leads the markets in Southeastern Europe, with robust volume increase in the high value-added products. ALUMIL administration announces with content 28.6% Group turnover growth for 2006, reaching Euro 243.7 m., compared to Euro 189.4 m. for 2005. The growth during 2006 is due to architectural and industrial profiles sales, automation systems, shading systems, polycarbonate sheets and composite panels (namely J-Bond) sales. Growth continues with significant rate for the first quarter of 2007 as well. EBITDA (including currency exchange gains), reached Euro 39.5 m., posting a significant increase of 24.6% compared to 2005 figures (Euro 31.72 m.). Earnings before taxes, reached Euro 14.7 m., a 39.4% increase compared to 2005 (Euro 10.5 m.). Group net earnings (after taxes and minorities) climbed to Euro 7.5 m. presenting a 75.5% impressive growth, compared to 2005 (Euro 4.3 m.). Consequently, earnings per share reached Euro 0.34 (from Euro 0.19 for 2005). Further noting that total operational expenses' margins steadily decline (including depreciation expenses), to 17% from 19% over sales. Working Capital management improvement - Group inventories decreased and credit policy improves - brought to the Group high positive operational cash flows of 18.9 m. approximately, with an overall debt decrease (Euro 165 m. in total). Group Equity reached Euro 120 m. (before minorities), without taking also into account Equity's strengthening due to the subsidiary ALUMIL ROM listing in the Bucharest Stock exchange (January 2007). Investments for 2006 reached Euro 22 m., accounting for new warehouses in the Balkans and production capacity upgrading. A new extrusion line was added in the Xanthi (ALUNEF-Greece) plant and the large-scale investment in the subsidiary ALUFIL (KILKIS-Greece) for the new anodizing unit - i.e. profiles - surface processing unit - was completed. For parent company financials, sales increased by 22.3%, reaching Euro 189.4 m., compared to Euro 154.8 m. in 2005. EBITDA (including currency exchange gains) reached Euro 17.8 m., a 17% increase approximately, compared to Euro 15.2 m. in 2005. Earnings before taxes reached Euro 7.4 m., increased by 30.6%, compared to Euro 5.7 m. for 2005. Net earnings after taxes climbed to Euro 5.2 m., compared to Euro 3.47 m. (for 2005), boosting a 51% increase. ALUMIL Board of Directors, reviewing 2006 Group financial performance, shall recommend to the Annual General Shareholders' Meeting a Euro 0.083 per share dividend payout (compared to Euro 0.013 for 2005), amounting to Euro 1.83 m., representing 34% of the after tax earnings. The above decision must be approved by the Annual General shareholders' Meeting. ALUMIL's dividend policy is closely related to the Group and parent company financial performance and position, their strategic targets and capital needs. Serbia and Albania vertical industrial complexes were completed within 2006, resulting to sales and earnings boost, rendering ALUMIL the leader in these markets. In addition, growth in Romania, Turkey and Bulgaria consist another dynamic parameter the following years, having the Balkans' markets comprising more than 40% of total Group turnover. Referring to the subsidiary ALUMIL ROM listing in the Bucharest Stock Exchange (BSE), it is mentioned that today, March 29th, the BSE Board of Directors holds a session in order to define the estimated first trading day, in the mid-April. Furthermore, the establishment of a new subsidiary in the United Arab Emirates (UAE) was decided, to strengthen further ALUMIL presence in the wider area. The new company, "ALUMIL GULF", with headquarters in "RAK FREE TRADE ZONE", a free-trade zone, will have parent company Alumil the main shareholder (99%), while ALUMIL's main shareholder George Milonas will hold 1%. Company share capital amounts to 100,000 AED (Euro 20,000 approximately). ALUMIL GULF will trade profiles and aluminium accessories. Subsidiary ALUMIL YU INDUSTRY S.A. purchased 15% of the subsidiary ALUMIL SRB shares. Group now holds 60% of ALUMIL SRB, which trades profiles and aluminium accessories. On April 18th, 2007, ALUMIL administration presents to the "ASSOCIATION OF GREEK INSTITUTIONAL INVESTORS" 2006 financials and future growth. Financial data and information are published on Thursday, March 29th, in the Hellenic newspapers "KERDOS" and "KATHIMERINI", and in the Kilkis (Greece) local newspaper "IMERISIA". The same day, the aforementioned data will be available in the Alumil web site, www.alumil.com, along with the complete financial statements report, the Board of Directors' report and the related press releases. ALUMIL is ranked among the largest aluminium extrusion and profiles production private European group (No 1 in Greece since 2000) establishing production sites, large sales networks and warehouses for products targeting architectural & industrial use, shipbuilding, transportation, etc. With 25 subsidiaries, 19 of which are spread throughout Europe, Africa and the Middle East, ALUMIL offers production sites in four Hellenic industrial areas, Romania, Bulgaria, Serbia, Bosnia and Albania. ALUMIL has successfully infiltrated into 45 markets in Europe, the Balkans, the M. East and in the U.S.A. A significant competitive advantage remains its widespread sales network in Greece and in every client-country. Parent company was founded in 1988 and since 1998 is listed in the Athens Stock Exchange. Included seven times in GrowthPlus' Europe's 500, ALUMIL's Group sales surpassed Euro 243 m. in 2006, while EBITDA exceeded Euro 39.5 m.