100 % FUTURE - ALNO

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Revenue volumes for ALNO AG fell by EUR 30.6 million year-on-year, or by – 22.8 %. Along with
weak export business, the revenue decline was due to product range streamlining and repositioning
within the Group, which affected ALNO the most. The company’s conscious refraining from entering
into low-margin revenues with the aim of sustainably improving profitability also contributed to this.
A positive consequence of this measure was that the gross profit margin increased from 49.7 % to
51.8 %, reflecting a 2.1 percentage point improvement.
The decline in EBITDA from EUR 2.7 million to EUR – 17.3 million is due, firstly, to the lower level of
gross profit in absolute terms, which in turn reflected the EUR 13.0 million revenue fall, and, secondly,
to restructuring expenses of EUR 7.5 million for the workforce reduction at Pfullendorf. Other operating
income stood at EUR 4.9 million, or 19.5 % below the previous year’s level. Personnel expenses
were down by EUR 1.2 million, or 2.8 %, to EUR 41.3 million. At EUR 41.4 million, other operating
expenses were EUR 4.5 million, or 9.8 %, below the previous year’s level.
IMPULS SEGMENT
31/12/2010
EUR mill.
31/12/2009
EUR mill.
Changes y-o-y
EUR mill.
Changes y-o-y
in percent
Net revenue 121.3 109.7 11.6 10.6 %
Gross profit 43.6 39.2 4.4 11.2 %
Gross profit as % 35.9 % 35.7 %
EBITDA 10.9 8.9 2.0 22.5 %
EBIT 8.1 6.0 2.1 35.0 %
The Impuls Küchen GmbH subsidiary, which is based at Brilon, reported significant 20 % revenue
growth of EUR 11.6 million to EUR 121.3 million. At the same time, gross profit was up by EUR
4.4 million, or 11.2 %, as a consequence of which the gross profit margin stood at 35.9 %. Thanks
to the improved gross profit, EBITDA increased by EUR 2.0 million, or 22.5 %, to reach EUR 10.9
million. This was also supported by the 10.7 % fall in personnel expenses to EUR 12.7 million. Other
operating expenses, rose by 15.3 % to EUR 22.2 million, by contrast, due to higher consulting costs,
and a higher level of cost transfers within the Group.
PINO SEGMENT
31/12/2010
EUR mill.
31/12/2009
EUR mill.
Changes y-o-y
EUR mill.
Changes y-o-y
in percent
Net revenue 93.6 90.6 3.0 3.3 %
Gross profit 29.9 29.3 0.6 2.1 %
Gross profit as % 31.9 % 32.3 %
EBITDA 6.8 8.1 – 1.3 – 16.0 %
EBIT 5.0 6.3 – 1.3 – 20.6 %
The PINO segment comprises pino Küchen GmbH, Coswig (Anhalt), which produces kitchens in
the lower price segment. PINO reported revenue growth of EUR 3.0 million, or 3.3 %, to EUR 93.6
million in the 2010 fiscal year. At the same time, gross profit was up by 2.1 % to EUR 29.9 million.
EBITDA declined by EUR 1.3 million, from EUR 8.1 million to EUR 6.8 million, by contrast. This is
primarily due to the marked increase in other operating expenses that was accompanied by a fall
in other operating income.