INTERIM REPORT OF NORDIC ALUMINIUM PLC Jan 1 - June 30, 2010


INTERIM REPORT OF NORDIC ALUMINIUM PLC Jan 1 - June 30, 2010                    

Net sales of Nordic Aluminium were EUR 36.72 million (EUR 33.23 million year    
2009). Earnings per share were EUR 1.32 (EUR 0.50). The operating profit for the
period was EUR 8.47 million (EUR 3.22 million) and the net profit was EUR 6.40  
million (EUR 2.41 million).                                                     

Net sales and profitability                                                     

The net sales of Nordic Aluminium accounted for EUR 36.72 million (EUR 33.23    
million). Profitability improved considerably. The operating profit was EUR 8.47
million (EUR 3.22 million), thereby consistent with the objectives. In          
accordance with the new model of activity the Company has increased its core    
business turnover during the period. The Company's core business includes       
electro technical products, as well as highly refined aluminium component       
manufacturing.                                                                  

International operations and export accounted for EUR 18.07 million (EUR 14.15  
million), which is 49 per cent of the net sales (43 per cent).                  

The order backlog is EUR 4.85 million. Due to the new model of activity, it is  
lower than in the previous year (EUR 5.85 million).                             

Profits                                                                         

The operating profit of Nordic Aluminium amounted to EUR 8,47 million (EUR 3.22 
million). Earnings per share for the period were EUR 1.32 (EUR 0.50).           

Second quarter in a nutshell                                                    

Net sales of Nordic Aluminium during April-June 2010 were EUR 19.78 million (EUR
16.10 million, April-June 2009). Earnings per share were EUR 0.83 (EUR 0.30).   
The operating profit for the period was EUR 5.36 million (EUR 2.00 million).    

Seasonality of sales and profit                                                 

Seasonal fluctuations are not significant in general. However, the concentration
of holidays to July 2010 has an effect on how sales and earnings will spread    
over the second and third quarter.                                              

Investments                                                                     

The gross capital expenditures for the period were EUR 0.47 million (EUR 4.92   
million).                                                                       

Personnel                                                                       

During the first six months of 2010 the average number of employees in the      
Nordic Aluminium Group was 151 (251). At the end of the period the number of    
employees was 162 (239).                                                        

Risks                                                                           

Main business risks are related to the uncertainty in the development of the    
world economy and its influence on market demand.                               

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 
six months of the year 2010 a number of 244,241 shares were traded with EUR 4.53
million. The share quotation ranged between EUR 14.94 and EUR 21.89. The number 
of shares was 4,836,882 which remained unchanged during the reporting period.   
The market value of the company's shares stood at EUR 90.9 million (EUR 62.4    
million) at the end of June.                                                    

Dividend from the financial year 2009 was EUR 1.30 per share, amounting to EUR  
6,287,946.60.                                                                   

Ownership                                                                       

There were no significant changes in the ownership during the period (1-6/2010).

Outlook                                                                         

Demand for the company's products has clearly revived as a result of improved   
market views, and as the company sees it the situation is gradually returning to
normal.The company will continue to comply with the new model of activity, thus 
concentrate on manufacturing highly refined aluminium components.               

The Board will carefully monitor the productivity development in order to ensure
that the company's profitability and competitiveness will remain at a high      
level.                                                                          

We still believe that the current year net sales will grow moderately compared  
to 2009, and that the level of operating income will grow substantially from the
previous year. The company's cash flow will also improve significantly, despite 
the payment of high dividends.                                                  

The above mentioned predictions are based on the company's management's best    
view of the company's condition and market outlook.                             

Disclaimer                                                                      

This release contains certain forward-looking statements that reflect the       
current views of the company's management. Due to the nature of these           
statements, they contain risks and uncertainties and are subject to changes in  
the general economic situation and in the company's business sector.            

Accounting policies                                                             

These presented interim financial statements have been prepared in accordance   
with IAS34 Interim Financial Reporting. Nordic Aluminium applies the same       
accounting policies as are applied in 2009 annual financial statements.         

The financial information is prepared in accordance with international financial
reporting standards IFRS.                                                       

While the group has only one primary business segment, "Aluminium products",    
which is equal to the official consolidated income statement and profit and loss
account, the interim report do not include separate information over the group's
primary business segment.                                                       

The key figures in this interim financial report are calculated with same       
accounting principles than in year 2009 annual financial statement. The         
calculation rules of key figures are presented in the financial statements      
bulletin of the previous year.                                                  

The figures presented in the tables below have been rounded to two decimals,    
which should be taken into account when reading the sum figures.                

The interim report has not been subject to audit.                               

CONSOLIDATED INCOME STATEMENT                                                   

EUR million                  4-6/10 %   4-6/09 %   1-6/10 %    1-6/09 %         
1-12/09                                                                         

Net sales                     19,78      16,10      36,72      33,23       62,24
                                                                                
Other operating income         0,07       0,02       0,07       0,03        0,04
                                                                                
Increase(+) or decrease(-)                                                      
finished goods and                                                              
work in progress               1,00      -0,28       0,15      -1,38       -1,38
Raw materials and                                                               
consumables                   -9,72      -7,44     -16,84     -15,41      -30,21
                                                                                
Personnel expenses            -1,79      -2,99      -3,78      -6,33      -12,56
                                                                                
Depreciation and                                                                
reduction of value            -1,21      -1,15      -2,43      -2,26       -4,62
                                                                                
Other operating expenses      -2,77      -2,26      -5,42      -4,67       -9,37
                                                                                
Operating profit               5,36 14,6  2,00 12,4  8,47 23,1  3,22 9,7    4,14
 6,7                                                                            
Financial items                0,11      -0,04       0,20       0,02        0,06
Profit before taxes            5,47 14,9  1,96 12,2  8,67 23,6  3,24 9,8    4,20
 6,7                                                                            
Income taxes                  -1,46      -0,52      -2,27      -0,83       -1,15
                                                                                
Net profit for the period      4,01 10,9  1,44  8,9  6,40 17,4  2,41 7,3    3,05
 4,9                                                                            

Profit attributable to:                                                         
Owners of the parent           4,01 10,9  1,44 8,9   6,40 17,4  2,41 7,3    3,05
 4,9                                                                            
Minority interest              0,00       0,00       0,00       0,00        0,00
                                                                                

Other comprehensive income:                                                     
Conversion difference          0,10      -0,03       0,16      -0,01        0,01

Total comprehensive income                                                      
attributable to:                                                                
Owners of the parent           4,12 11,2  1,41 8,8   6,56 17,9  2,40 7,2   3,06 
4,9                                                                             
Minority interest              0,00       0,00       0,00       0,00       0,00 
                                                                                

Basic and diluted                                                               
earnings per share, EUR        0,83       0,30       1,32       0,50       0,63 

CONSOLIDATED BALANCE SHEET                                                      
EUR million                          June 30,   June 30,    Dec 31,             
                                        2010       2009       2009              
Non-current assets                                                              
Tangible assets                        25,83      27,80      27,54              
Goodwill                                2,25       2,25       2,25              
Intangible assets                       1,19       1,67       1,48              
Tradable financial assets               0,02       0,02       0,02              
Other financial assets                  0,00       0,00       0,00              
Deferred tax liabilities                0,12       0,09       0,09              
Total                                  29,41      31,83      31,38              

Current assets                                                                  
Inventories                             6,67       6,46       6,42              
Accounts receivable and other                                                   
current assets                         14,55      10,16       8,81              
Advance payments                        0,04       0,10       0,06              
Cash in hand and at banks               7,89       6,96       9,51              
Total                                  29,15      23,69      24,79              

Total assets                           58,56      55,52      56,17              

EUR million                          June 30,  June 30,    Dec 31,              
                                        2010       2009       2009              
Shareholders' equity and liabilities                                            
Equity                                                                          
Shareholders' equity                    6,19       6,19       6,19              
Share premium account                   3,45       3,45       3,45              
Conversion difference                  -0,11      -0,29      -0,27              
Retained earnings                      38,14      37,39      38,03              
Shareholders' equity:                                                           
Owners of the parent                   47,68      46,75      47,41              
Minority interest                       0,00       0,00       0,00              
Total                                  47,68      46,75      47,41              

Long-term liabilities                                                           
Deferred tax liabilities                2,89       1,76       2,86              
Provisions                              0,07       0,07       0,27              
Interest bearing liabilities            0,04       0,09       0,07              
Total                                   3,00       1,92       3,20              

Short-term liabilities                                                          
Accounts payable                        7,83       6,83       5,53              
Provisions                              0,00       0,00       0,00              
Short-term interest                                                             
bearing liabilities                     0,05       0,02       0,03              
Total                                   7,88       6,86       5,56              

Total liabilities                      10,88       8,77       8,76              

Total shareholders' equity and                                                  
liabilities                            58,56      55,52      56,17              

CONSOLIDATED CASH FLOW STATEMENTS                                               
EUR million                   4-6/10    4-6/09    1-6/10    1-6/09    1-12/09   
Cash flow from operations                                                       
Net profit (loss)               4,02      1,44      6,40       2,41      3,05   
Corrections                                                                     
  Depr, according to plan       1,21      1,15      2,43       2,26      4,62   
  Financial items              -0,11      0,04     -0,20      -0,02     -0,06   
  Taxes                         1,48      0,52      2,30       0,83      1,15   
Cash flow before change                                                         
in net working capital          6,60      3,14     10,93       5,47      8,77   
Change in net working capital:                                                  
  Short-term receivables,                                                       
  increase(-)/decrease(+)      -1,69      2,06     -5,73       1,25      3,03   
  Inventories                                                                   
  increase(-)/decrease(+)      -0,99      0,25     -0,25       1,69      1,73   
  Short-term interest bearing                                                   
  liabilities                                                                   
  increase(+)/decrease(-)       1,46     -0,96      2,10      -1,10     -2,20   
  Total                        -1,23      1,35     -3,88       1,84      2,56   

Cash flow from operations before                                                
interests and taxes             5,37      4,48      7,05       7,31     11,33   

Paid interests and payments for                                                 
other financial expenses        0,00     -0,06     -0,01      -0,11     -0,16   
Received interests and payments                                                 
from other financial income     0,11      0,02      0,21       0,13      0,22   
Paid income taxes              -1,47     -0,52     -2,28      -0,83     -0,43   
Cash flow from operations(A)    4,01      3,93      4,97       6,50     10,95   

Cash flow from investing activities                                             
Investments in tangible and                                                     
intangible assets              -0,11     -1,42     -0,47      -4,92     -6,84   
Income from sales of tangible                                                   
and intangible assets           0,03      0,00      0,03       0,00      0,00   
Repayment of loan receivables   0,00      0,00      0,00       0,00      0,00   
Cash flow from investments(B)  -0,09     -1,42     -0,45      -4,92     -6,84   

Cash flow from financial items                                                  
Rights issue                    0,00      0,00      0,00       0,00      0,00   
Withdrawals of                                                                  
short-term loans                0,03      0,00      0,05       0,00      0,00   
Amortization of                                                                 
short-term loans                0,00     -0,03      0,00      -0,03     -0,05   
Withdrawals of                                                                  
long-term loans                 0,02      0,01     -0,06       0,01      0,01   
Amortization of                                                                 
long-term loans                 0,00      0,00      0,00       0,00      0,00   
Dividends paid                 -6,29     -1,93     -6,29      -1,93     -1,94   
Cash flow from                                                                  
financial items(C)             -6,24     -1,95     -6,30      -1,95     -1,97   

Change in cash flow (A+B+C)    -2,32      0,57    -1,78      -0,37      2,14    
Conversion difference           0,09     -0,03     0,16      -0,01      0,01    
Total                          -2,23      0,54    -1,62      -0,38      2,15    

Cash in hand and at banks                                                       
in the beginning of period     10,12      6,43     9,51       7,35      7,35    
Cash in hand and at banks                                                       
in the end of period            7,89      6,96     7,89       6,96      9,50    
Change                         -2,23      0,54    -1,62      -0,38      2,15    

STATEMENT OF CHANGES OF CONSOLIDATED EQUITY                                     
EUR million                                                                     
                  Shareholders    Sh.pr.   Convers.  Retained,   Total          
                  Equity          account  diff.     earnings   equity          
Equity                                                                          
01.01.2009                6,19       3,45     -0,28      36,92   46,28          
Comprehensive income                          -0,01       2,41    2,40          

Earning and costs tot,                                            2,40          
Dividends                                                -1,93   -1,93          

Equity                                                                          
30.06.2009                6,19       3,45     -0,29      37,39   46,75          

Equity                                                                          
01.01.2010                6,19       3,45     -0,27      38,03   47,41          
Comprehensive income                           0,16       6,40    6,56          

Earning and costs tot,                                            6,56          
Dividends                                                -6,29   -6,29          

Warrants used                                                     0,00          

Equity                                                                          
30.06.2010                6,19       3,45     -0,11      38,14   47,68          


KEY FIGURES:                                                                    
                             4-6/10    4-6/09    1-6/10    1-6/09     1-12/09   
Basic and diluted                                                               
earnings per share, EUR         0,83      0,30      1,32      0,50        0,63  



                                    June 30,  June 30,    Dec 31,               
                                        2010      2009       2009               
Equity ratio, %                         81,4      84,2       84,4               
Gearing, %                             -16,5     -14,9      -19,8               
Balance sheet total, EUR million       58,56     55,52      56,17               

NOTES:                                                                          

                                    June 30,  June 30,    Dec 31,               
                                        2010      2009       2009               
Equity/share, EUR                       9,86      9,67       9,80               
Number of employees                                                             
at the end of the period                 162       239        125               

                             4-6/10    4-6/09    1-6/10    1-6/09     1-12/09   
Average number of employees      156       217       151       251         207  
Investments, EUR mill,          0,11      1,42      0,47      4,92        6,84  

Geographical segments:                                                          
Net sales                                                                       
EUR million                   4-6/10    4-6/09    1-6/10    1-6/09     1-12/09  
                                                                                
Finland                        10,16      9,28     18,65     19,08       34,13  
Other countries                 9,62      6,82     18,07     14,15       28,11  
Total                          19,78     16,10     36,72     33,23       62,24  

Taxes:                                                                          
EUR million                   4-6/10    4-6/09    1-6/10    1-6/09     1-12/09  
Current income tax             1,47       0,51      2,28      0,83        0,04  
Change in deferred income tax -0,01       0,00     -0,01      0,00        1,11  
Total                          1,46       0,51      2,27      0,83        1,15  

Inventories:                                                                    
EUR million                         June 30,  June 30,    Dec 31,               
                                        2010      2009       2009               
Raw materials and consumables           1,09      1,02       0,97               
Work in progress                        2,99      2,37       2,96               
Finished goods                          2,59      3,07       2,49               
Total                                   6,67      6,46       6,42               

Interest bearing loans and borrowings:                                          
EUR million                         June 30,  June 30,    Dec 31,               
                                        2010      2009       2009               
Bank loan                               0,00      0,00       0,00               
Obligations under finance leases        0,05      0,11       0,10               
Total                                   0,05      0,11       0,10               

Contingent liabilities:                                                         
EUR million                         June 30,  June 30,    Dec 31,               
                                        2010      2009       2009               
Consignation liability                  0,28      0,22       0,33               
Rental and leasing liabilities          6,33      8,60       7,44               
Corporate mortgages given               0,00      0,00       0,00               

Related party disclosures:                                                      
EUR million                   4-6/10    4-6/09    1-6/10    1-6/09     1-12/09  
Sales                           2,73      1,84      5,34      3,80        7,50  
Purchases                       0,00      0,00      0,02      0,00        0,05  


EUR million                         June 30,  June 30,    Dec 31,               
                                        2010      2009       2009               
Receivables                             0,67      0,03       0,02               
Accounts payable                        0,01      0,00       0,04               

Order backlog:                                                                  
EUR million                         June 30,   June 30,   Dec 31,               
                                        2010      2009       2009               
                                        4,85      5,85       4,02               

Nordic Aluminium Plc publishes its nine-month Interim Report for                
January-September 2010 on October 20, 2010. The company bulletins will be       
published also on web-pages www.nordicaluminium.fi.                             

Kirkkonummi August 18, 2010                                                     

NORDIC ALUMINIUM PLC                                                            
The Board of Directors                                                          

Peter Högel                                                                     
Managing Director                                                               
For further information please contact:                                         
Managing Director Peter Högel, tel, +358 20 7660 206                            

Distribution:                                                                   
OMX NASDAQ Helsinki                                                             
The Main Media                                                                  
www,nordicaluminium,fi                                                          

NOAE0810