1060601_BPK_Charts_Presse.ppt

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ALNO AG

ANNUAL PRESS CONFERENCE

June 12, 2006

2060601_BPK_Charts_Presse.ppt

EBT of the ALNO Group in € millions

-5.6

5.47.0

-10.0

-5.0

0.0

5.0

10.0

2003 HGB 2004 IFRS 2005 IFRS

0.6

One-time exceptional charges from restructuring and legacy costs: € -6.4 mn

pro forma:+29.6%

3060601_BPK_Charts_Presse.ppt

EBT of the ALNO Group in € millions

0.2

1.9

2.3

0.0

1.0

2.0

3.0

4.0

2003 HGB 2004 IFRS 2005 IFRS

1.5

Additional charges:- From restructuring and legacy costs € -0.6 mn- From allocations to provisions for legacy pensions € -1.0 mn

pro forma:+21.1%

4060601_BPK_Charts_Presse.ppt

612.8

649.3

440.0

400.0

600.0

2003 2004 2005

Total consolidated turnover in € millions

652.8pro forma:

+0.5%

-5.6 %

Pro forma adjustment:- Turnover lost from appliance business: € -21.6 mn - Turnover lost from Wellpac disposal: € -10.9 mn- Turnover lost from business closures: € -7.5 mn

5060601_BPK_Charts_Presse.ppt

Industry consolidation

Num

ber

of c

ompa

nies

Change 1997-2005:

No. of providers:

No. of employees:(1,000):

-44 (-30.3%)

-80 (-32.5%)

145

1997

139

1998

140

1999

138

2000

130

2001

112

2002

109

2003

Number of employees(1,000)

24.6 24.0 23.1 22.6 21.7 20.2 18.9

107

2004

17.0

101

2005

16.6

Domestic market performance

1997 1998 1999 2000 2001 2002 2003

Yea

r-to

-yea

r m

arke

t per

form

ance

(%

)

2004 2005

2.1

-4.1

-5.7

-10.7

-3.6

3.1

-1.9

-5.6 -5.9

6060601_BPK_Charts_Presse.ppt

Net turnover of ALNO AG (domestic) in € millions

95.7

121.7129.8

0.0

50.0

100.0

2003 2004 2005

Success factors:

- Systematic account management

- Fully integrated retailer and consumer marketing system

Product range development focused on design, functionality, user behavior and architecture

+6.7%

7060601_BPK_Charts_Presse.ppt

Consolidated turnover (export) in € millions

118.7

172.7182.9

0.0

100.0

200.0

2003 2004 2005

Success factors:

- Product range policies

- Market cultivation

+5.9%

8060601_BPK_Charts_Presse.ppt

Total costs of the ALNO Group in € millions

667.4 648.3621.9

0.0

250.0

500.0

2003 HGB 2004 IFRS 2005 IFRS

Since 2003, total costs have fallen -6.8%

Reasons for the drop in costs:

- Efficiency enhancement and cost-cutting programs

- Elimination of low-margin sales

462.1*

**

* CASAWELL Group included for only 3 months** Pro-forma comparison, CASAWELL Group included for 12 months

-4.1%

9060601_BPK_Charts_Presse.ppt

2,9172,755 2,664

0

1,000

2,000

2003 2004 2005

ALNO Group employees (annual average)

-3.3%

10060601_BPK_Charts_Presse.ppt

23.8

39.536.6

0.0

20.0

40.0

2003 HGB 2004 IFRS 2005 IFRS

During the reporting period, the Group maintained the same high level established in 2004 despite significant exceptional items.

EBITDA of the ALNO Group in € millions

-7.3%

11060601_BPK_Charts_Presse.ppt

14.517.3

21.1

13.811.4

12.1

28.3 28.7

33.2

0.0

10.0

20.0

30.0

2003 HGB 2004 IFRS 2005 IFRS

Investments of the ALNO Group in € millions

Showroom kitchens

Other

*

* Incl. CASAWELL goodwill

+15.7%

12060601_BPK_Charts_Presse.ppt

8.8

27.4

16.3

0.0

10.0

20.0

30.0

2003 2004 2005

Changes in liquidity of the ALNO Group in € millions

€ +4.5 mn more investment than previous year

€ -11.2 mn change in loans (net)

€ -3.7 million cash-reducing exceptional charges

13060601_BPK_Charts_Presse.ppt

255.3271.8 267.0

100.0

200.0

300.0

2003 HGB 2004 IFRS 2005 IFRS

Material changes in balance sheet items:

a) Assets:- Non-current assets increased by € +6.5 mn

- Inventories reduced by € -2.6 mn

- Receivables reduced by € -2.2 mn

b) Liabilities:- Shareholders' funds increased by € +9.8 mn

- Current liabilities reduced by € -12.9 mn

Changes in total assets of the ALNO Group in € millions

-1.8%

14060601_BPK_Charts_Presse.ppt

143.8 150.3

0.0

100.0

200.0

2004 IFRS 2005 IFRS

Key drivers:- Investment in plant and equipment

- Investment in showroom kitchens- Dubai presence

Changes in non-current assets of the ALNO Group in € millions

+4.5%

15060601_BPK_Charts_Presse.ppt

Shareholders' funds of the ALNO Group in € millions

19.1

31.2

41.0

0.0

20.0

40.0

60.0

2003 HGB 2004 IFRS 2005 IFRS

Shareholders' funds at the highest level in the past 4 years

21.8

HGB

+31.4%

16060601_BPK_Charts_Presse.ppt

105.395.2

0.0

100.0

200.0

2004 IFRS 2005 IFRS

Key drivers:- Net change in loans (€ -11.2 mn)

- More draw-downs on CA line

Changes in financial liabilities of the ALNO Group in € millions

-9.6%

17060601_BPK_Charts_Presse.ppt

98.1 94.9

0.0

100.0

2004 IFRS 2005 IFRS

Key drivers:- Operating factors

Changes in other liabilities of the ALNO Group in € millions

-3.3%

18060601_BPK_Charts_Presse.ppt

Review of fiscal 2005 for the ALNO Group The ALNO Group generated € +0.6 million in EBT in 2005, producing a pre-tax profit for the

second year in a row on the heels of many years of losses following the IPO.

Net profit includes extraordinary one-time charges and operating factors amounting to € -6.4 million.

Guidance 2005: EBT of € -2.0/+1.0 mn (before excep. items).Actual 2005: EBT of € +5.4 mn (before excep. items).

The ALNO Group instituted several initiatives under FUTURA to counteract external risks such as: cost increases in procurement markets, and fierce, price-driven competition in a contracting domestic market. The restructuring plan was continued at the same time.

19060601_BPK_Charts_Presse.ppt

Strategic and operational focuses in fiscal 2005 Shareholders' funds increased € +10.4 mn under the global authorization

Annual general meeting resolved to increase shareholders' funds with subscription rights (4.485 million shares)

Wellpac Möbelwerke GmbH removed from portfolio

Wellmann, Geba integrated and restructuring continued

Development of FUTURA III medium-term strategy

Innovative, fully integrated product range development

Construction of the first foreign production site in the ALNO Group's history in Dubai

20060601_BPK_Charts_Presse.ppt

Increase in value

Increaseshareholder value

Profitability

Widen margins

Growth

Increase market share

Efficiency

Optimizeresource use

FUTURA strategy program

21060601_BPK_Charts_Presse.ppt

Performance of the ALNO AG share (Frankfurt) in €

Share performance:Peak 2005: € 8.10YE 2005: € 4.80Current 2006: € 5.70

Market capitalization:YE 2005: € 50.3 mnYM 2002: € 14.8 mnGrowth in value2005 vs. 2002: € 35.5 mn

2004 2005 2006

3

4

5

6

7

8

22060601_BPK_Charts_Presse.ppt

-18.6

7.0

-24.0

-16.0

-8.0

0.0

8.0

16.0

2001 2005

Profitability performance of the ALNO Group in € millions

pro forma:+137.6%

0.6+103.2%

23060601_BPK_Charts_Presse.ppt

20.1%

33.9%

0.0%

20.0%

40.0%

2002 2005

Changes in relative growth/market share of the ALNO Group

+68.7%

24060601_BPK_Charts_Presse.ppt

82.1380.37

50.00

80.00

2003 2005

Cost efficiency performance of the ALNO Group (€/unit)

-2.1%

Cost of sales

36.2533.69

0.00

10.00

20.00

30.00

40.00

2003 2005

Cost efficiency performance of the ALNO Group (€/unit)

-7.1%

Personnel costs

25060601_BPK_Charts_Presse.ppt

100.0%

117.0%

0.0%

40.0%

80.0%

120.0%

2003 2005

Changes in the efficiency of the ALNO Group(2003=100%)

+17.0%

Productivity

Productivity: NT/EMP

Program product range

Revenuesfrom sales

35%

75%

2002

Program product range

Revenuesfrom sales

69%

75%

2005

Changes in the efficiency of the ALNO Group

Product range

26060601_BPK_Charts_Presse.ppt

Outlook for fiscal 2006 for the ALNO Group

Despite the general brightening of consumer sentiment and the apparent improvement in buying behavior, the 2006 financial year should be viewed with caution due to industry factors.

Like the previous year, 2006 is expected to be characterized by market-driven price increases in materials, personnel and transportation costs.

The ALNO Group's net profits for the first quarter of 2006 were higher than the targets and prior-year levels.

The ALNO Group is expecting 2006 net profits to be higher than 2005 levels as of year-end.

27060601_BPK_Charts_Presse.ppt

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