"ALUMIL MILONAS ALUMINIUM EXTRUSION INDUSTRY S.A. " administration announces reduction in sales and gross profitability for the first quarter of 2008, while net earnings declined due to overall unfavorable conditions. In particular, Group presented decrease in sales by 35.2%, reaching euro 42.1 m., compared to euro 65 m. in 1Q 2008. This significant reduction is due to the considerable decline in construction activity in Greece and abroad during the first quarter of 2009, the effort by customers in Greece and abroad to reduce their inventories, as well as to the almost zero orders from automotive industries of Western Europe. Gross profits declined by approximately 59.6%, reaching euro 6,8 m., compared to euro 16.8 m. in 1Q 2008, while EBITDA, declined by 97%, reaching euro 284 thousand, compared to euro 9,6 m. for 1Q 2008. Losses before taxes reached euro 6.9 m., compared to 1Q 2008 (earnings euro 3.9 m.). Consequently, losses per share reached euro 0.39 (earnings euro 0.08 for 1Q 2008).
The significant decrease in gross results is due to the reduction in aluminium prices internationally, with a simultaneous increase in production cost, due to reduced quantities produced, and to expensive raw materials used, since buying contracts of 2008 were executed in considerably higher prices. Furthermore, it should be noted that Group results include the considerable devaluations of currencies in countries of Eastern Europe, where the Group is significantly exposed.
Regarding parent company financials, 1Q 2009 turnover decreased by almost 42%, to euro 29.5 m., compared to euro 50.8 m. in 1Q 2008. EBITDA reached minus euro 2.4 m., compared to 1Q 2008 (euro 4,9 m. approximately). Losses before taxes reached euro 6.8 m., compared to 1Q 2008 (earnings euro 1.1m) and net results after taxes reached minus euro 7.2 m., compared to 1Q 2008 (earnings euro 0.8 m.). Data and Information of the Financial Statements are published on Thursday, May 28th, 2009, in the Hellenic financial newspaper "EXPRESS". Aforementioned data are also available in the Alumil web site, www.alumil.com, along with the complete Financial Statements' report and the corresponding announcements.

ALUMIL is ranked among the largest aluminium extrusion and profiles production private European groups (No 1 in Greece since 2000) establishing production sites, large sales networks and warehouses for products targeting architectural & industrial use, shipbuilding, transportation, etc. With 26 subsidiaries, 20 of which are spread throughout Europe, Africa and the Middle East, ALUMIL provides 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 eight times in GrowthPlus' Europe's 500 for its contribution to the European economy, ALUMIL Group sales surpassed ? 285 m. in 2008, while EBITDA reached euro 37 m.
Filoktimon Vakalis | Group Investor Relations & Research - Head
Tel: +30 2341079300 | Fax: +30 2341071988 | Investors@Alumil.com
Kilkis Industrial Area | 61100 Kilkis | Greece | www.alumil.com
(Symbols: Athens Stock Exchange: ΑΛΜΥ, Reuters: ALMr.AT, Bloomberg: ALMY GA, Telerate (Bloomberg): GR;ALMY).