Published on : Wednesday, November 27, 2013
According to the official press release the third quarter revenue of the kitchen furniture group Alno dropped by 10.2% to €97.1m. Whilst export turnover developed along fairly stable lines, a clear decline of 12-14% was recorded on the domestic market.
The management of the company stated that the decline is mostly contributed by the slump in the demand which has fallen considerably than expected particularly in the summer months. The decline which was being experienced in the third quarter is much more significant when compared to the decline experienced in the first quarter (-15.3%) and in the second quarter (-14.4%). EBITDA dropped by more than half to €1.6m, whereby the result in the comparative period last year had been influenced by one-off special effects. The EBIT was negative at -€1.5m.
ALNO AG is one of the leading kitchen furniture manufacturers in Germany. The company employs around 1,787 people at its base in Pfullendorf and the works in Enger, Brilon and Coswig-Klieken. In addition to the four production sites in Germany, it also has three subsidiaries in other countries. ALNO AG has also had a production site in Dubai, UAE, since 2005. This makes ALNO the first kitchen manufacturer in Europe to have a production facility in the Middle East specifically for local market requirements. ALNO also has co-operations with around 7,000 sales partners in 64 countries.