Metalfrio Posts Net Sales of R$156.7 million (37.5% up over 1Q07) and Adjusted EBITDA of R$10.3 million (up 106.0% over 1Q07) in 1Q08

SAO PAULO, Brazil, May 15 /PRNewswire-FirstCall/ -- Metalfrio Solutions S.A. ("Metalfrio") (FRIO3), one of the world's largest manufacturers of plug-in commercial refrigeration equipment announces its first quarter 2008 (1Q08) results. Unless otherwise stated, financial and operational information is given in accordance with Brazilian corporate legislation and in reais (R$). Comparisons are with 1Q07 or as indicated.

HIGHLIGHTS

-- Our net sales revenue in 1Q08 came to R$156.7 million, compared to
R$113.9 million in 1Q07, an increase of 37.5%. The number of units
sold in the quarter grew by 36.3% year over year, coming to 144,700
units.

-- In 1Q08 our adjusted EBITDA(1) was R$10.3 million (adjusted EBITDA
margin of 6.6%), compared with R$5.0 million in 1Q07, an increase of
106.0%.

-- In 1Q08, our adjusted net profit(2) totaled R$4.8 million (adjusted
net margin of 3.1%), versus R$1.7 million in the 1Q07 (adjusted net
margin of 1.5%), adjusted for IPO-related expenses in 1Q07.

-- Our Americas operation is performing above our expectations. In 1Q08
Americas had net sales revenue of R$141.3 million and posted an
adjusted EBITDA of R$13.6 million (adjusted EBITDA margin of 9.6%).

-- We closed the transaction on March 26, 2008, to purchase 71.0% of the
capital stock of Senocak Holding A.S. ("Senocak"), the commercial
refrigeration holding company, which includes control in the Turkish
company Klimasan, the group "Senocak/Klimasan."

-- The Senocak/Klimasan operation, which are included in our balance
sheet but not included in our income statement, recorded net revenue
of R$43.3 million (with 53,500 units sold) in 1Q08.

Conference Calls

English
Date: May 16, 2008 (Friday) Time: 10:00 a.m. (EDT Time) / 11:00 a.m.
(Brasilia time)Connection number: +1 (973) 935-8893 Access Code: 44149971
Replay: +1 (706) 645-9291.

Portuguese
Date: May 16, 2008 (Friday) Time: 09:00 a.m. (EDT Time) / 10:00 a.m.
(Brasilia time)Connection number: +55 (11) 2188 0188 Access Code:
Metalfrio Replay: +55 (11) 2188-0188.

www.metalfrio.com.br/ir

(1) 1Q08 EBITDA adjusted for R$2.8 million of tax benefits and negatively
adjusted for R$0.9 million of foreign exchange gain on equity income.
(2) 1Q08 net profit adjusted for R$2.8 million of tax benefits.

FCMN Contact: melissa.angelini@mz-ir.com

Source: Metalfrio Solutions S.A.

CONTACT: Luiz Eduardo Moreira Caio, CEO and IRO of Metalfrio Solutions,
+55 11 6333-9002, ri@metalfrio.com.br

Web site: http://www.metalfrio.com.br/ir

2008-05-15 20:57:18 0363601 PRNEWSWIRE