Financial Figures 1st Quarter 2008

Financial figures for Kleemann present considerable growth in the first quarter of 2008, both at parent and consolidated basis.

Specifically, group turnover amounted to € 26,99 million against € 24,55 million, presenting an increase of 10,0%. Furthermore, at consolidated base, profit after tax increased by 9,2% from € 2,40 million to € 2,62 million, whereas profit before tax amounted to € 3,55 million against € 3,34 million of the equivalent period of last year, presenting an increase of 6,3%. Profit after tax and minority rights increased by 6,4%, from € 2,18 million to € 2,31 million, whereas consolidated profit before tax, interest and depreciation (EBITDA) improved from € 4,09 million to € 4,64 million, that is to say by 13,4%.

Shareholders' Equity of the parent Company amounted to € 77,29 million from € 75,51 million at the end of 2007, with "debt equity ratio" amounting to 1,6 and maintaining the strong capital structure of the group. Furthermore, the "earnings per share ratio" amounted to € 0,20 from € 0,18 of the corresponding quarter of the previous year, whereas "price to book value ratio" (P/BV) amounted to 1,2.

At parent company level, profit after tax increased by 6,8% and amounted to € 2,09 million from € 1,96 million of the equivalent quarter of the previous year, and it should be noted that the gross margin was improved by 8,6%. Respectively, EBITDA amounted to € 3,65 million from € 3,32 million in the same period of time of 2007, presenting an increase of 9,7%.

At consolidated level, capital expenditure proceeds intensively and concerns mainly the construction of the testing tower for high-speed elevators. The testing tower is a part of the three-year investment program of 2007-2009 of € 16,50 million aiming at the increase of production capacity, the improvement of infrastructure and the further development of know-how on new innovative products.

According to the management, the subsidiaries in Turkey and Serbia have contributed substantially in the improvement of the financial figures, while at the same time and within the framework of implementing its strategy, the Company continues to broaden its client base and expand to new markets.

Given the above, prospects remain positive for the group which is expected to reach an annual turnover of € 115 million, increased by 7.9% compared to last year.