NORDIC ALUMINIUM PLC STOCK EXHANGE RELEASE April 25, 2007 10 a.m. 1/6 INTERIM REPORT OF NORDIC ALUMINIUM PLC Jan 1 - March 31, 2007 Net sales of Nordic Aluminium were EUR 26.41 million (EUR 22.82 million year 2006). The operating profit for the period was EUR 4.45 million (EUR 2.45 million) and the net profit was EUR 3.32 million (EUR 1.78 million). Net sales and profitability The net sales of Nordic Aluminium accounted for EUR 26.41 million (EUR 22.82 million) and was 15.7 % higher than the net sales of the equivalent period of the previous year. The demand during the period was good, as expected. The order back log grew substantially. The Company's good profit development was due to a good increase in volume and value added, as well as improvement of material flows. The rapid price increase of aluminium reduced the sales margin during the first quarter of the year 2006, which increases the comparative profit growth this year. International operations and export accounted for EUR 10.8 million (EUR 8.9 million), which is 41 per cent of the net sales. Profits The operating profit of Nordic Aluminium amounted to EUR 4.45 million (EUR 2.45 million). Earnings per share for the period were EUR 0.69 (EUR 0.38). Investments The gross capital expenditures for the period were EUR 1.33 million (EUR 0.52 million). Personnel During the first three months of 2007 the average number of personnel in Nordic Aluminium Group was 295 (320). At the end of the period the number of employees was 297 (324). Shares The shares of Nordic Aluminium Plc are traded at the Helsinki Exchanges. The trading identifier is NOA1V and the ISIN code is FI0009006415. During the first three months of the year 2007 a number of 75,071 shares were traded with EUR 1.57 million. The share quotation ranged between EUR 19.50 and EUR 22.94. The market capitalisation of the company's shares stood at EUR 106.8 million (EUR 82.6 million) at the end of March. Ownership There were no significant changes in the ownership during the period (1-3/2007). Outlook At the end of the reporting period the order backlog for the Group was EUR 12.33 million (EUR 6.52 million). The demand is expected to continue at a good level the first half of the year, there are no signs of demand decrease. The development of efficient and clear material flows and operative efficiency continues. The Company aims at a good profit development for the whole year. Accounting policies The presented Financial information is construed according to the recognition and measurement principles of International Financial Reporting Standards (IFRS). CONSOLIDATED INCOME STATEMENT EUR million 1-3/07 % 1-3/06 % 1-12/06 % Net sales 26.41 22.82 96.57 Other operating income 0.00 0.00 0.03 Increase(+) or decrease(-) finished goods and work in progress 1.01 0.77 1.30 Raw materials and consumables -14.48 -13,13 -52.60 Personnel expenses -3.53 -3.79 -15.10 Depreciation and reduction of value -0.84 -1.02 -3.86 Other operating expenses -4.12 -3.21 -15.26 Operating profit 4.45 16.8 2.45 10.7 11.07 11.5 Financial items 0.02 -0.04 -0.13 Profit before taxes 4.47 16.9 2.40 10.5 10.94 11.3 Income taxes -1.15 -0.62 -2.88 Net profit for the period 3.32 12.6 1.78 7.8 8.06 8.3 CONSOLIDATED BALANCE SHEET EUR million March 31, March 31, Dec 31, 2007 2006 2006 Non-current assets Tangible assets 12.08 12.72 11.79 Goodwill 2.25 2.25 2.25 Intangible assets 1.49 1.30 1.30 Tradable financial assets 0.02 0.02 0.02 Other financial assets 0.00 0.05 0.00 Deferred tax liabilities 0.09 0.16 0.10 Total 15.93 16.50 15.46 Current assets Inventories 11.22 9.52 10,24 Accounts receivable and other current assets 16.83 16.51 13.46 Advance payments 0.00 0.00 0.00 Cash in hand and at banks 6.82 3.89 6.67 Total 34.86 29.92 30.38 Total assets 50.80 46.42 45.83 EUR million March 31, March 31, Dec 31, 2007 2006 2006 Shareholders' equity and liabilities Equity Shareholders' equity 6.19 5.92 6.19 Share issue 0.01 Share premium account 3.45 2.11 3.45 Conversion difference -0.18 -0.16 -0.16 Retained earnings 22.71 20.23 23.50 Total 32.18 28.11 32.99 Long-term liabilities Deferred tax liabilities 0.62 0.75 0.62 Provisions 0.14 0.14 Interest bearing liabilities 0.76 2.20 0.75 Total 1.52 2.95 1.51 Short-term liabilities Accounts payable 15.54 11.98 9.77 Provisions 0.09 0.09 Short-term interest bearing liabilities 1.47 3.39 1.48 Total 17.10 15.37 11.33 Total liabilities 18.62 18.32 12.84 Total shareholders' equity and liabilities 50.80 46.42 45.83 CONSOLIDATED CASH FLOW STATEMENTS EUR million 1-3/07 1-3/06 1-12/06 Cash flow from operations Net profit (loss) 3.32 1.78 8.06 Corrections Depr. according to plan 0.84 1.02 3.86 Financial items -0.02 0.04 0.13 Taxes 1.15 0.62 2.88 Cash flow before change in net working capital 5.29 3.47 14.93 Change in net working capital: Short-term receivables, increase(-)/decrease(+) -3.37 -5.10 -2.05 Inventories increase(-)/decrease(+) -0.98 -1.05 -1.75 Short-term interest bearing liabilities increase(+)/decrease(-) 5.28 0.33 -1.84 Total 0.93 -5.83 -5.64 Cash flow from operations before interests and taxes 6.23 -2.36 9.29 Paid interests and payments for other financial expenses -0.05 -0.10 -0.33 Received interests and payments from other financial income 0.08 0.05 0.20 Paid income taxes -0.65 -0.38 -2.66 Cash flow from operations(A) 5.60 -2.79 6.49 Cash flow from investing activities Investments in tangible and intangible assets -1.33 -0.52 -2.42 Income from sales of tangible and intangible assets 0.00 0.00 0.00 Repayment of loan receivables 0.00 0.00 0.05 Cash flow from investments(B) -1.33 -0.52 -2.37 Cash flow from financial items Rights issue 0.00 0.01 1.62 Withdrawals of short-term loans 0.00 2.50 4.30 Amortization of short-term loans 0.00 -0.65 -4.37 Amortization of long-term loans 0.01 -0.01 -1.33 Dividends paid -4.11 0.00 -3.01 Cash flow from financial items(C) -4.10 1.85 -2.78 Change in cash flow (A+B+C) 0.17 -1.46 1.34 Conversion difference -0.03 0.02 0.00 Total 0.14 -1.44 1.34 Cash in hand and at banks in the beginning of period 6.67 5.34 5.34 Cash in hand and at banks in the end of period 6.82 3.89 6.67 Change 0.14 -1.44 1.34 STATEMENT OF CHANGES OF CONSOLIDATED EQUITY EUR million Shareholders Sh.pr. Convers. Retained. Total Equity account diff. earnings equity Equity 01.01.2006 5.92 2.11 -0.15 18.45 26.33 Conversion diff. 0.00 0.00 Net profit 8.06 8.06 Earning and costs tot. 8.05 Dividends -3.00 -3.00 Warrants used 0.27 1.35 1.62 -1.38 Equity 31.12.2006 6.19 3.45 -0.16 23.50 32.99 Equity 01.01.2007 6.19 3.45 -0.16 23.50 32.99 Conversion diff. -0.03 -0.03 Net profit 3.32 3.32 Earning and costs tot. 3.29 Dividends -4.11 -4.11 Warrants used 0.00 0.00 0.00 -4.11 Equity 31.03.2007 6.19 3.45 -0.18 22.71 32.18 EUR million March 31, March 31, Dec 31, 2007 2006 2006 Equity/share, EUR 6.65 5.93 6.96 Investments in tangible and intangible assets, EUR mill. 1.33 0.52 2.42 Average number of personnel 295 320 311 CONTINGENT LIABILITIES EUR million March 31, March 31, Dec 31, 2007 2006 2006 Consignation liability 1.57 4.39 2.25 Rental and leasing liabilities 11.24 2.08 11.57 Corporate mortgages given 8.41 8.41 8.41 KEY FIGURES EUR million March 31, March 31, Dec 31, 2007 2006 2006 Diluted earnings per share, EUR 0.69 0.38 1.70 Equity ratio, % 63.3 60.5 72.0 Gearing, % -14.2 6.0 -13.5 Balance sheet total, EUR million 50.80 46.42 45.83 Order bakclog: EUR million 1-3/07 1-3/06 1-12/06 12.33 6.52 7.95 Geographical segments: Net sales EUR million 1-3/07 1-3/06 1-12/06 Finland 15.63 13.92 58.80 Other countries 10.78 8.90 37.76 Total 26.41 22.82 96.57 The key figures have been calculated according to the general instructions by the Finnish Bookkeeping Board. The interim report has not been subject to audit. Nordic Aluminium Plc publishes its six-month Interim Report for January-June 2007 on August 15, 2007. The company bulletins will be published also on web-pages www.nordicaluminium.fi. Kirkkonummi April 25, 2007 NORDIC ALUMINIUM PLC The Board of Directors Robert Paajanen Managing Director For further information please contact: Managing Director Robert Paajanen, tel. +358 9 6825 2500 Distribution: Helsinki Exchanges The Main Media NOAE0607