Impressive sales growth for the Group (+27.7%), stemming from Hellenic & international markets. Earnings shall converge to initial estimates (reaching 2003 levels), despite 1H:04 coincidental decline.

Alumil announces once again impressive 9M:04 sales growth for the Group and for mother company; Group Investment Plan in Greece and in the Balkans continues satisfactory, as scheduled. In detail:
- Group Sales raced ahead +27.7% y-o-y, to euro 127.37 m. from euro 99.73 m. derived from both Greece and the International markets sales boost.
- Operational earnings (EBITDA) for 9M:04 reached euro 21.85 m. in close approximation with 9M:03 results (euro 21.95 m.)

We emphasize on repeatedly reported Alumil administration estimates that 6-month unsatisfactory earnings results were clearly coincidental, based on extremely high materials costs. Sales boost comes from Group sales centers development in Greece and internationally, capable of supplying 45 countries, in tandem with increase in processed profiles sales, polycarbonate sheets, automation systems and accessories. Particularly, we mention that international sales - in tons - increased by 38%, an 87% increase solely from Western Europe.

EBITDA levels reached euro 21.85 m., due to satisfactory gross profit margin (32.8%) and accelerated high-end product sales, despite increased operational expenses from Group Investments. Earnings before taxes (net income before taxes) reached euro 6.74 m., compared to euro 8.28 m. in 2003. It arrives as a result of increased cost of sales (COGS), new investments and sound depreciation expenses.

Mother company sales raced by 20%, y-o-y, to euro 107.34 m. from euro 89.46 m. in 9M:03. Operational earnings (EBITDA) reached euro 12.51 m. from euro 13.49 m. and earnings before taxes soundly improved compared to 1H:04 figures - surmounted to 5.28 m. compared to euro 7.05 m. in 9M:03. Year end figures are anticipated to improve further within 2004, based on administration estimates. Fixes assets investments for 9M:04 totaled euro 26.3 m. approximately; Group fixed assets over passed euro 180 m. in gross figures, composed of state-of-the-art, significantly low average age, production lines. Investments in Greece headed towards industrial sites, that is, Xanthi, Komotini and Serres, amounting approximately to euro 7 m.

In International markets, Tirana site (Albania) fixed assets increased by euro 8 m. and Belgrade site (Serbia) investments (fixed assets) increased by euro 3.5 m. Mother company investments in fixed assets reached 5.7 m. for production line supplementary parts (profile matrices), ERP costs and new building investments for training centers and offices.