10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended April 3, 2015

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to                                     

Commission File No.  333-05978

EURAMAX HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware (State or other jurisdiction of incorporation or organization)	58-2502320 (I.R.S. Employer Identification Number)
303 Research Drive, Suite 400, Norcross, GA (Address of principal executive offices)	30092 (Zip Code)

Registrant’s Telephone Number, Including Area Code: (770) 449-7066

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ¨ No x*

* The registrant is a voluntary filer of reports required to be filed by certain companies under Sections 13 or 15(d) of the Securities Exchange Act of 1934 and has filed all reports that would have been required during the preceding 12 months, had it been subject to such filing requirements.

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulations S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer o Accelerated filer o Non-accelerated filer x (Do not check if a smaller reporting company) Smaller reporting company o

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

There were 195,877 shares of the registrant’s common stock, par value $1.00 per share, issued and outstanding as of May 13, 2015, none of which are publicly traded.

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

TABLE OF CONTENTS

PART I - FINANCIAL INFORMATION
Item 1.	Financial Statements (unaudited)	1
	Condensed Consolidated Balance Sheets as of April 3, 2015 and December 31, 2014	1
	Condensed Consolidated Statements of Operations for the Three Months Ended April 3, 2015 and March 28, 2014	2
	Condensed Consolidated Statements of Comprehensive Operations for the Three Months Ended April 3, 2015 and March 28, 2014	3
	Condensed Consolidated Statements of Cash Flows for the Three Months Ended April 3, 2015 and March 28, 2014	4
	Notes to Condensed Consolidated Financial Statements	5
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	25
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	37
Item 4.	Controls and Procedures	37
PART II - OTHER INFORMATION
Item 1.	Legal Proceedings	38
Item 1A.	Risk Factors	38
Item 6.	Exhibits	38

Part I. Financial Information

Item 1. Financial Statements (unaudited)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

	April 3, 2015			December 31, 2014
ASSETS	(unaudited)
Current assets:
Cash and cash equivalents	$	1,868		$	2,074
Accounts receivable, less allowances of $1,268 and $1,522, respectively	88,357			80,329
Inventories, net	110,648			106,385
Income taxes receivable	1,897			1,734
Deferred income taxes	424			426
Other current assets	7,750			7,009
Total current assets	210,944			197,957
Property, plant and equipment, net	104,037			111,164
Goodwill	180,659			190,158
Customer relationships, net	22,754			26,315
Other intangible assets, net	6,365			6,495
Deferred income taxes	179			—
Other assets	3,924			4,687
Total assets	$	528,862		$	536,776
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities:
Accounts payable	$	83,772		$	78,846
Accrued expenses and other current liabilities	25,065			25,509
Accrued interest payable	85			12,912
Current portion of long-term debt (Note 2)	450,012			4,663
Deferred income taxes	811			895
Total current liabilities	559,745			122,825
Long-term debt	124,408			534,852
Deferred income taxes	14,073			15,894
Other liabilities	34,711			36,311
Total liabilities	732,937			709,882
Shareholders’ deficit:
Common stock	196			196
Additional paid-in capital	724,661			724,562
Accumulated loss	(934,440		)	(903,029		)
Accumulated other comprehensive income	5,508			5,165
Total shareholders’ deficit	(204,075		)	(173,106		)
Total liabilities and shareholders’ deficit	$	528,862		$	536,776

See the accompanying notes to these condensed consolidated financial statements.

1

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands)

(unaudited)

	Three months ended
	April 3, 2015			March 28, 2014
Net sales	$	185,599		$	169,904
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	160,587			146,971
Selling and general (excluding depreciation and amortization)	18,537			18,776
Depreciation and amortization	7,499			8,202
Other operating charges	2,263			965
Loss from operations	(3,287		)	(5,010		)
Interest expense	(13,934		)	(13,765		)
Other (loss) income, net	(15,465		)	196
Loss before income taxes	(32,686		)	(18,579		)
(Benefit from) provision for income taxes	(1,275		)	693
Net loss	$	(31,411	)	$	(19,272	)

See the accompanying notes to these condensed consolidated financial statements.

2

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE OPERATIONS

(in thousands)

(unaudited)

	Three months ended
	April 3, 2015			March 28, 2014
Net loss	$	(31,411	)	$	(19,272	)
Other comprehensive income (loss):
Foreign currency translation adjustment	221			(389		)
Defined benefit pension plan adjustments	122			20
Total comprehensive loss	$	(31,068	)	$	(19,641	)

See the accompanying notes to these condensed consolidated financial statements.

3

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

	Three months ended
	April 3, 2015			March 28, 2014
Cash flows from operating activities:
Net loss	$	(31,411	)	$	(19,272	)
Reconciliation of net loss to net cash provided by operating activities:
Depreciation and amortization	7,499			8,202
Amortization of deferred financing fees	641			576
Amortization of debt discount	175			129
Share-based compensation	99			121
Provision for doubtful accounts	1,318			119
Foreign exchange loss (gain)	16,559			(212		)
Gain on sale or disposal of assets	—			(6		)
Deferred income taxes	(1,497		)	864
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	(12,341		)	(18,149		)
Inventories	(6,586		)	(14,948		)
Other current assets	(868		)	(690		)
Accounts payable and other current liabilities	(5,329		)	38,675
Income taxes payable	(390		)	501
Other noncurrent assets and liabilities	(339		)	204
Net cash used in operating activities	(32,470		)	(3,886		)
Cash flows from investing activities:
Proceeds from sales of assets	43			43
Capital expenditures	(2,109		)	(1,488		)
Net cash used in investing activities	(2,066		)	(1,445		)
Cash flows from financing activities:
Net borrowings (repayments) on ABL Credit Facility	24,207			(13,756		)
Net borrowings on European Credit Facilities	10,523			14,657
Changes in cash overdrafts	—			236
Debt issuance costs	—			(88		)
Net cash provided by financing activities	34,730			1,049
Effect of exchange rate changes on cash	(400		)	(297		)
Net decrease in cash and cash equivalents	(206		)	(4,579		)
Cash and cash equivalents at beginning of period	2,074			8,977
Cash and cash equivalents at end of period	$	1,868		$	4,398

See the accompanying notes to these condensed consolidated financial statements.

4

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

1. Basis of Presentation and Principles of Consolidation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of Euramax Holdings, Inc. and its subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, these statements include all adjustments considered necessary for the fair presentation of all interim periods reported herein. All adjustments are of a normal recurring nature unless otherwise disclosed.

The Company’s sales volumes have historically been higher in the second and third quarters due to the seasonal demand of the building products markets served. Accordingly, results for the three months ended April 3, 2015 are not necessarily indicative of the results that may be expected for the full year. Management believes that the disclosures made are adequate for a fair presentation of the Company’s results of operations, financial position and cash flows. These condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.

Assets and liabilities of non-U.S. subsidiaries are translated to U.S. Dollars at the rate of exchange in effect on the balance sheet date. Income and expenses are translated to U.S. Dollars at the weighted average rates of exchange prevailing during the period. Foreign currency gains and losses resulting from the remeasurement of inter-company amounts that are not of a long-term investment nature into local currencies and certain indebtedness of foreign subsidiaries denominated in U.S. dollars are included in other (loss) income, net. Other (loss) income, net includes losses of $16.2 million and income of $0.2 million for the three months ended April 3, 2015 and March 28, 2014, respectively. Foreign currency gains and losses resulting from transactions in the ordinary course of business are recorded in selling and general expenses. Foreign currency transaction gains and losses recorded in selling and general expenses were not significant for any period presented.

Principles of Consolidation

The accompanying condensed consolidated financial statements include the Company’s accounts and the accounts of its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Each of our interim reporting periods, other than the fourth interim reporting period, ends on the Friday closest to the last day of the corresponding quarterly calendar period. The first quarter of 2015 and 2014 ended on April 3 and March 28, respectively. The first quarter of 2015 contains 6 additional days compared to the first quarter of 2014. Our fourth interim reporting period and our fiscal year end on December 31 regardless of the day of the week on which it falls.

Recent Accounting Pronouncements

In May 2014, the FASB issued new revenue recognition guidance, which supersedes most current revenue recognition guidance, including industry-specific guidance, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company is currently assessing the impact of implementing this guidance on the Company's financial position, results of operations, and cash flows.

5

In April 2015, the FASB issued new guidance related to the presentation of debt issuance costs. The guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. For public business entities, the guidance is effective for annual and interim periods beginning after December 15, 2015, and is to be applied retrospectively. Early adoption is permitted. The Company is currently assessing the impact of implementing this guidance on the Company's financial position, results of operations, and cash flows.

2. Operations and Significant Accounting Policies

Indebtedness

The $375 million9.50% Senior Secured Notes (the "Notes") become due on April 1, 2016. In the event the Notes are not refinanced prior to December 31, 2015, the ABL Credit Facility becomes due on January 31, 2016. Generally accepted accounting principles require that long-term debt be classified as a current liability when the maturity date for such debt is within 12 months of a company's reporting period. Accordingly, as of April 3, 2015, the Company is required to classify its outstanding long-term debt under the Notes and the ABL Credit Facility totaling $375 million and $59.8 million, respectively, to current liabilities on its consolidated balance sheet since the Company has not finalized the refinancing of the debt. If the Company were unable to refinance or extend the maturity date of its Notes the Company may not be able to generate sufficient cash to service all of the indebtedness and may not be able to refinance the indebtedness on favorable terms. This ability, to a certain extent, is subject to general economic, financial, competitive, legislative, regulatory and other factors beyond the Company’s control. The Company is actively pursuing several alternatives to address the maturity date of its Notes, including but not limited to engagement of an investment banking firm and legal counsel to facilitate the refinancing process. Based on current market conditions, the Company expects to be able to complete a refinancing of the Notes prior to December 31, 2015, although there can be no assurances of the timing of terms thereof. See Note 4 for further disclosures related to long-term debt.

Accounts Receivable

Accounts receivable are comprised of trade accounts receivable and other receivables. Trade accounts receivable are recorded at net realizable value and totaled $86.8 million and $77.1 million as of April 3, 2015 and December 31, 2014, respectively. This value includes an allowance for estimated uncollectible accounts, returns and allowances, cash discounts and other adjustments. The allowance for doubtful accounts is based on historical experience, the level of past-due accounts based on the contractual terms of the receivables, current economic conditions and an evaluation of the customers' credit worthiness. Accounts receivable are charged against the allowance for doubtful accounts when it is probable that the receivable will not be recovered. During the first quarter of 2015, the Company incurred a loss of $1.2 million in the European Roll Coated Aluminum segment on accounts receivable related to the bankruptcy of a customer in the UK.

3. Inventories

Inventories were comprised of:

	April 3, 2015		December 31, 2014
	(in thousands)
Aluminum and steel coil	$	71,270	$	72,587
Raw materials	19,829		16,427
Work in process	2,481		2,467
Finished products	17,068		14,904
Total inventories, net	$	110,648	$	106,385

The Company has disclosed aluminum and steel coil inventory separately, as it represents inventory that can be classified as raw material, work in process or finished product. Aluminum and steel coil includes both painted and bare coil. Inventories are net of related reserves totaling $2.6 million and $2.5 million as of April 3, 2015 and December 31, 2014, respectively.

6

4. Indebtedness

Indebtedness consisted of the following:

	April 3, 2015		December 31, 2014
	(in thousands)
Senior Secured Notes (9.50%)	$	375,000	$	375,000
Senior Unsecured Loan Facility (12.25%)	124,408		124,233
ABL Credit Facility	59,826		35,619
Dutch Revolving Credit Facility	14,163		3,532
French Credit Facility	1,023		1,131
Total debt	574,420		539,515
Less: current portion	450,012		4,663
Total long term debt	$	124,408	$	534,852

Senior Secured Notes

The Notes consist of an aggregate principal amount of $375 million, which were issued pursuant to an indenture (the "Indenture"), dated March 18, 2011, among Euramax International, Inc. ("Euramax International"), Euramax Holdings, Inc. ("Euramax Holdings"), and certain of its domestic subsidiaries as guarantors, and Wells Fargo Bank, National Association, the Trustee.The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. The Notes bear interest at 9.50% per year and mature on April 1, 2016, unless earlier redeemed or repurchased by Euramax International. Interest is payable semi-annually on April 1 and October 1 of each year.

The Notes are secured by a first priority security interest in (i) substantially all of the assets of Euramax International and the guarantors (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International's capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a guarantor and 65% of the voting capital stock and 100% of any non-voting capital stock of foreign restricted subsidiaries directly owned by Euramax International or a guarantor, and a second priority security interest in the inventory, receivables and related assets.

The Notes may be redeemed at the option of Euramax International, in whole or in part, under the conditions specified in the Indenture, at the following redemption prices plus accrued and unpaid interest to the redemption date if redeemed during the twelve-month period beginning on April 1 of the years indicated:

Year	Percentage
2013	107.125	%
2014	104.750	%
2015 and thereafter	100.000	%

The Indenture contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These restrictive covenants also prohibit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan or otherwise. The Indenture also contains customary events of default. If Euramax International undergoes a change of control (as defined in the Indenture), Euramax International will be required to make an offer to repurchase the Notes at 101% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to the date of redemption. As of April 3, 2015, Euramax International is in compliance with the covenants under the Indenture.

7

As discussed in Note 2, the $375 million outstanding under the Notes has been reclassified from long-term debt to current liabilities as of April 3, 2015.

Senior Unsecured Loan Facility

On March 3, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries entered into a credit and guaranty agreement for a senior unsecured loan facility (the "Senior Unsecured Loan Facility") in the aggregate principal amount of $125 million. The Senior Unsecured Loan Facility was issued at 98% of par on March 18, 2011 and matures on October 1, 2016.The difference between the consideration received and the aggregate face amount ($0.6 million) is being amortized and recorded in interest expense using the effective interest rate method over the term. The Senior Unsecured Loan Facility bears interest at 12.25% per year in the event no election is made to pay interest in kind (PIK), and 14.25% (7.875% cash pay and 6.375% PIK) per year in the event a PIK election is made. Euramax International may make a PIK election for up to six quarters during the term of the Senior Unsecured Loan Facility. The interest rate on outstanding borrowings at April 3, 2015 was 12.25% as Euramax International has not made a PIK election.

Euramax International may prepay outstanding amounts under the Senior Unsecured Loan Facility, in whole or in part, at the prices (expressed as percentages of the loans) set forth below:

Prepayment Date	Percentage
On or after the second anniversary of the closing but prior to the third anniversary thereof	103	%
On or after the third anniversary of the closing but prior to the fourth anniversary thereof	102	%
On or after the fourth anniversary of the closing	100	%

Upon a change of control, Euramax International may be required to prepay all or a portion of the Senior Unsecured Loan Facility at a price equal to 101% of the principal amount plus accrued and unpaid interest.All obligations under the Senior Unsecured Loan Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and substantially all of Euramax International's existing and future direct and indirect 100% owned domestic material restricted subsidiaries.

The Senior Unsecured Loan Facility contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants.

The Senior Unsecured Loan Facility contains certain customary representations and warranties, affirmative covenants and events of default, including among other things, payment defaults, covenant defaults, cross‑defaults to certain indebtedness, certain events of bankruptcy, material judgments, and failure of any guaranty supporting the Senior Unsecured Loan Facility to be in force and effect in any material respect. If such an event of default occurs, the administrative agent would be entitled to take various actions, including the acceleration of amounts due under the Senior Unsecured Loan Facility and all actions permitted to be taken by an unsecured creditor. As of April 3, 2015, Euramax International is in compliance with the covenants undet the Credit and Guaranty Agreement governing the Senior Unsecured Loan Facility.

ABL Credit Facility

On March 18, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries, entered into the ABL Credit Facility with Regions Bank, as Collateral and Administrative Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent, and Regions Business Capital, as Sole Lead Arranger and Bookrunner. The ABL Credit Facility provides for revolving credit financing of up to $70 million, subject to borrowing base availability and matures on March 1, 2018. However, if the Administrative Agent has not received on or before December 31, 2015, evidence satisfactory to such agent that the scheduled maturity dates of the indebtedness arising under the Indenture and the Senior Unsecured Loan Facility, in each case, have been extended to a date that is at least 90 days after March 1, 2018, then the maturity date for the ABL Credit Facility will accelerate to January 31, 2016. In March 2014, Wells Fargo Capital Finance, LLC ceased to be Co-Collateral Agent and a Lender under the ABL Credit Facility. As of April 3, 2015, $10.2 million was available to be drawn on the ABL Credit Facility.

8

Borrowings under the ABL Credit Facility bear interest at a rate per annum equal to either (a) LIBOR plus an applicable margin or (b) a Base Rate determined by reference to the highest of (1) the prime commercial lending rate published by Regions Bank as its “prime rate” for commercial loans, (2) the federal funds effective rate plus 0.50% and (3) the one-month LIBOR plus 1.00%, plus an applicable margin. The applicable margin is dependent upon the type of borrowings Euramax International has made under the ABL Credit Facility. As of April 3, 2015, the applicable margins are subject to Euramax International’s Average Excess Availability Percentage for the most recently ended fiscal quarter and range from 1.75% to 2.25% for LIBOR borrowings and 1.00% to 1.25% for Base Rate borrowings. The weighted average interest rate at April 3, 2015, including the applicable margin payable on outstanding borrowings under the ABL Credit Facility, was 2.25%. The ABL Credit Facility requires Euramax International to pay a commitment fee ranging from 0.375% to 0.5%, based on the unutilized commitments. Euramax International is also required to pay customary letter of credit fees, including, without limitation, a letter of credit fee equal to the applicable margin on revolving credit LIBOR loans and fronting fees.

All obligations under the ABL Credit Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International, and any future direct and indirect 100% owned domestic restricted subsidiaries which are not borrowers. All obligations under the ABL Credit Facility are secured, subject to certain exceptions, by a first‑priority security interest in Euramax International’s and the Guarantors’ inventory and accounts receivable and related assets (the "ABL Collateral"), and a junior‑priority security interest in (i) substantially all of Euramax International’s and the Guarantors’ assets (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International’s capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a Guarantor and 65% of the voting capital stock and 100% of any non-voting capital stock of foreign restricted subsidiaries directly owned by Euramax International or a Guarantor, which we refer to collectively as the Notes Collateral.

The ABL Credit Facility contains affirmative and negative covenants customary for this type of financing, including, but not limited to certain financial covenants in the event excess availability is less than 12.5% of the lesser of the aggregate amount of commitments outstanding at such time and the borrowing base. As of April 3, 2015, excess availability exceeded 12.5% of the borrowing base; therefore, Euramax International was not required to meet the minimum consolidated fixed charge coverage ratio. Additionally, restrictive covenants limit the ability of Euramax International and certain of its subsidiaries to incur liens, incur, assume or permit to exist additional indebtedness, guarantees and other contingent obligations, consolidate, merge or sell all or substantially all of their assets, pay dividends or make other distributions, make certain loans and investments, amend or otherwise alter the terms of documents related to certain of their indebtedness, enter into transactions with affiliates and prepay certain indebtedness, in each case, subject to exclusions, and other customary covenants. As of April 3, 2015, Euramax International is in compliance with the covenants under the credit agreement governing the ABL Credit Facility.

On February 6, 2015 and March 23, 2015, Euramax Holding entered into the Ninth and Tenth Amendments (the “Amendments”), respectively, to the ABL Credit Facility. Borrowings under the revolving credit facility made available pursuant to the ABL Credit Facility are subject to a borrowing base limit and satisfaction of certain conditions. The borrowing base for the existing revolving credit facility includes, subject to notice by the Company and the satisfaction of certain other specified conditions, three mutually exclusive seasonal overadvance amounts, “Seasonal Overadvance (Type A)” in the amount of $15.0 million, “Seasonal Overadvance (Type B)” in the amount of $9.0 million and “Seasonal Overadvance (Type C)” in the amount of $6.0 million. Pursuant to the Amendments, the Company requested the addition of the “Seasonal Overadvance (Type B)” amount to the borrowing base, and the ABL Credit Facility was amended to, among other items, (i) provide for alternate conditions for the “Seasonal Overadvance (Type B)” amount, which will only apply during a specified period in fiscal year 2015, as further described below, (ii) condition availability of the “Seasonal Overadvance (Type A)” amount on the continued satisfaction of the applicable overadvance conditions relating thereto, as further described below, and (iii) amend the financial covenants to, among other things, change certain of the conditions governing when such financial covenants are applicable.

Pursuant to the Amendments, if the “Seasonal Overadvance (Type B)” conditions are not satisfied at any time during the period from January 26, 2015 through May 31, 2015, then the alternate “Seasonal Overadvance (Type B)” conditions shall apply instead during such period. Pursuant to the alternate “Seasonal Overadvance (Type B)” conditions, inclusion of the alternate “Seasonal Overadvance (Type B)” amount in the borrowing base shall be subject to, among other conditions, (i) the Company's demonstrating compliance with (A) a U.S. fixed charge coverage ratio for the most recently ended twelve-month test period of 0.85 to 1.00 and (B) a specified minimum consolidated adjusted EBITDA covenant for the most recently ended twelve-month period of $52.0 million, (ii) payment of a fee equal to 0.2% of the applicable seasonal overadvance amount (the “Seasonal Overadvance Fee) and (iii) other customary conditions.

9

In addition, the Amendments amended the ABL Credit Facility to condition availability of the “Seasonal Overadvance (Type A)” amount in the borrowing base on the continued compliance with the applicable overadvance conditions for such amount. Under the ABL Credit Facility the “Seasonal Overadvance (Type A)” amount is available to the Company from February 1 of each year through June 30 for calendar year 2015 and through May 31 of any other year (each, a “Type A Period”), subject to among other conditions (i) the Company's demonstrating compliance with a fixed charge coverage ratio covenant of 1.00 to 1.00, (ii) payment of the Seasonal Overadvance Fee (except to the extent already paid during such calendar year), (iii) other customary conditions and (iv) pursuant to the Amendments, continued compliance with the foregoing eligibility requirements with respect to any Type A Period, with the “Type A” seasonal overadvance amount being reduced to zero at any time such conditions fail to be satisfied during such Type A Period.

The Amendments also (i) provide for the suspension of the testing of the fixed charge coverage ratio financial covenant in the ABL Credit Facility that is otherwise applicable during certain financial covenant testing periods at any time when the regular “Seasonal Overadvance (Type B)” conditions or the “Seasonal Overadvance (Type C)” conditions are satisfied, and (ii) provides for the suspension of the testing of the minimum consolidated adjusted EBITDA covenant that is otherwise applicable during certain financial covenant testing periods at any time when the regular “Seasonal Overadvance (Type B)” conditions and the “Seasonal Overadvance (Type C)” conditions are not satisfied.

Dutch Revolving Credit Facility

In February 2012, the Company's 100% owned subsidiary Euramax Coated Products, BV entered into a revolving credit facility with Rabobank Roermond (the "Dutch Revolving Credit Facility"). The Dutch Revolving Credit Facility provides revolving credit financing of up to EUR 15 million and matures on April 1, 2016. Borrowings under the Dutch Revolving Credit Facility bear interest at a rate per annum which is the aggregate of the average one month Euribor rate over a calendar month plus a margin of 2% and requires payment of a commitment fee of 0.35% per annum on the nominal amount of the credit facility. The weighted average interest rate at April 3, 2015, including the margin payable on outstanding borrowings under the Dutch Revolving Credit Facility, was 2.25%. All obligations under the Dutch Revolving Credit Facility are secured by a mortgage on the real estate of Euramax Coated Products, BV and a pledge on present and future machinery and present and future accounts receivable balances of Euramax Coated Products, BV. At April 3, 2015, $2.3 million (EUR 2.1 million) was available to be drawn on the Dutch Revolving Credit Facility.

The Dutch Revolving Credit Facility contains financial and non-financial covenants customary for this type of financing. Financial covenants include, but are not limited to, a minimum annual EBITDA target and a minimum amount of risk-bearing capital for Euramax Coated Products, BV, both measured at the Company's fiscal year-end. The Dutch Revolving Credit Facility also contains a clause limiting further indebtedness. As of April 3, 2015, Euramax Coated Products, BV is in compliance with the covenants under the credit agreement governing the Dutch Credit Facility.

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5. Commitments and Contingencies

Raw Material Commitments

The Company’s primary raw materials are aluminum and steel coil. Because changes in aluminum and steel prices are generally passed through to customers, increases or decreases in aluminum and steel prices generally cause corresponding increases and decreases in reported net sales, causing fluctuations in reported revenues that are unrelated to the level of business activity. However, if the Company is unable to pass through aluminum and steel price increases to customers in the future, its business and results of operations could be materially adversely affected. Although the Company believes there is sufficient supply in the marketplace to competitively source all of its aluminum and steel needs without reliance on any particular supplier, any major disruption in the supply and/or price of aluminum and steel could have a material adverse effect on the Company’s business and financial condition.

To ensure a margin on specific customer orders, the Company may commit to purchase aluminum ingot or coil at a fixed market price for future delivery. These contracts are for normal purchases and sales, and therefore, are not required to be accounted for as derivatives.

Litigation

The Company is currently party to legal proceedings that have arisen in the ordinary course of business. The Company has and will continue to vigorously defend itself in these matters. It is the opinion of the Company’s management, based upon information available at this time, that the expected outcome of all matters to which the Company is currently a party would not reasonably be expected to have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Company.

Environmental Matters

The Company’s operations are subject to U.S., Canadian, and European federal, state, and local environmental laws and regulations, including those concerning the management of pollution and hazardous substances.

In connection with the acquisition of the Company from Alumax Inc. (which was acquired by Aluminum Company of America in May 1998, and hereafter referred to as Alumax) on September 25, 1996, the Company was indemnified by Alumax for substantially all of its costs, if any, related to specifically identified environmental matters arising prior to the closing date of the acquisition during the period of time it was owned directly or indirectly by Alumax. Such indemnification includes costs that may ultimately be incurred to contribute to the remediation of eleven specified existing National Priorities List (NPL) sites for which the Company had been named a potentially responsible party under the federal Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) as of the closing date of the acquisition from Alumax, as well as certain potential costs for nine sites to which the Company may have sent waste for disposal. The Company does not believe that it has any significant probable liability for environmental claims. Further, the Company believes it to be unlikely that the Company would be required to bear environmental costs in excess of its pro rata share of such costs as a potentially responsible party at any site. Any receivable for recoveries under the indemnification would be recorded separately from the corresponding liability when the environmental claim and related recovery is determined to be probable. In addition, the Company establishes reserves for remedial measures required from time to time at its facilities. Management believes that the reasonably probable outcomes of these matters will not be material. The Company’s reserves, expenditures, and expenses for all environmental exposures were not significant as of any of the dates or for any of the periods presented.

11

Product Warranties

The Company provides warranties on certain products. The warranty periods differ depending on the product, but generally range from one year to limited lifetime warranties. The Company provides for warranties based on historical experience and expectations of future occurrence. Changes in the product warranty accrual are summarized as follows:

	Three months ended
	April 3, 2015			March 28, 2014
	(in thousands)
Balance, beginning of period	$	3,970		5,326
Payments made or service provided	(520		)	(621		)
Warranty expense	467			682
Foreign currency translation	(97		)	2
Balance, end of period	$	3,820		$	5,389

6. Income Taxes

The (benefit from) provision for income taxes for 2015 and 2014 is computed at the effective rate expected to be applicable in each respective full year using the statutory rates on a country by country basis applied to current year-to-date pre-tax earnings, adjusted for changes in valuation allowances relating to the Company’s realizability of deferred tax assets and changes in tax uncertainties. The Company's interim income tax rate may differ from its estimated annual effective tax rate because accounting standards require the Company to exclude certain entities expected to generate a pretax loss from the overall computation of the estimated annual effective tax rate, as well as items accounted for in the interim period incurred, which may result in a significant variation in the customary relationship between (benefit from) provision for income taxes and pretax accounting income (loss) in interim reporting periods. The effective rates for the three month periods ended April 3, 2015 and March 28, 2014 were a benefit of 3.9% and a provision of 3.7%, respectively.

The effective rate for the three months ended April 3, 2015 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, geographical mix of earnings, changes in estimated uncertain tax positions, and recognition of valuation allowances related to losses in the UK and in U.S. federal and state jurisdictions.

The effective rate for the three months ended March 28, 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, geographical mix of earnings, and recognition of valuation allowances related to losses in the UK and in U.S. federal and state jurisdictions.

12

7. Accumulated Other Comprehensive Income

Changes in accumulated other comprehensive income (loss) by component for the three month period ended April 3, 2015 were as follows:

	Foreign Currency Translation Adjustments		Defined Benefit Pension Plan Adjustments			Total
	(in thousands)
Balance, beginning of period	$	19,557	$	(14,392	)	$	5,165
Other comprehensive income before reclassifications	221		—			221
Amounts reclassified from accumulated other comprehensive income	—		122			122
Net other comprehensive income	221		122			343
Balance, end of period	$	19,778	$	(14,270	)	$	5,508

Amounts reclassified from the defined benefit pension plan adjustments component of accumulated other comprehensive income (loss) were recorded in selling and general expenses within the condensed consolidated statement of operations. There were no net tax effects related to the reclassification as a result of the full valuation allowances in the U.S. and UK in the current year. The accumulated tax effect related to the defined benefit pension plan adjustments component of accumulated other comprehensive income (loss) was a provision of $0.3 million as of April 3, 2015 and December 31, 2014. There are no tax impacts related to the foreign currency translation adjustment component of accumulated other comprehensive income (loss) as the earnings of subsidiaries are considered to be permanently invested.

8. Employee Benefit Plans

Retirement Plans

The Company maintains a non-contributory defined benefit pension plan covering substantially all U.S. hourly employees (the "U.S. Plan"). In addition, the employees at Euramax Coated Products Limited and Ellbee Limited participate in a single employer pension plan (the "UK Plan"). The measurement date for the U.S. and UK plans is the last day of the fiscal year. The Company curtailed the accrual of participant benefits provided under the UK Plan effective March 31, 2009. This curtailment did not affect the timing for the payment of benefits earned under the UK Plan through the curtailment date. In January 2010, the Company's board of directors approved a motion to freeze future benefit accruals under the U.S. Plan. The impact on the Company's projected benefit obligation was not significant. Components of net periodic pension cost for the Company’s defined and multiemployer pension plans were as follows:

	Three months ended
	April 3, 2015						March 28, 2014
	U.S. Plan			UK Plan			U.S. Plan			UK Plan
	(in thousands)
Service cost	$	20		$	—		$	14		$	—
Interest cost	145			440			140			552
Expected return on assets	(189		)	(392		)	(186		)	(466		)
Recognized actuarial net loss	78			44			2			18
Total defined benefit net periodic pension cost	54			92			(30		)	104
Multiemployer benefit expense	272			—			258			—
Net periodic pension cost	$	326		$	92		$	228		$	104

13

9. Fair Value Measurements

Recurring Fair Value Measurements

In accordance with accounting principles generally accepted in the U.S., certain assets and liabilities are required to be recorded at fair value on a recurring basis. For the Company, the only assets and liabilities that are adjusted to fair value on a recurring basis are derivative financial instruments.

Derivative Financial Instruments

The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company's financial performance and are referred to as "market risks." The Company, when deemed appropriate, uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risk managed by the Company through the use of derivative instruments is foreign currency exchange rate risk related to intercompany interest payments. The Company does not enter into derivative contracts for trading purposes.

The Company has entered into forward contracts to buy or sell a quantity of a currency at a predetermined future date, and at a predetermined rate or price to mitigate uncertainty and volatility, and to cover underlying exposures to certain payments in currencies other than the functional currency. The Company has not designated these contracts for hedge accounting treatment and, therefore, the gains and losses on these contracts are recorded in other (loss) income, net in the condensed consolidated statement of operations. For the three months ended April 3, 2015, the Company recognized gains of $0.8 million. For the three months ended March 28, 2014, the losses related to these forward contracts were not significant.

Derivatives are carried at fair value in the condensed consolidated balance sheet in the line item other current assets or accrued liabilities, as applicable. As of April 3, 2015, the fair value of outstanding derivatives was not significant. For December 31, 2014, the fair value of outstanding derivatives totaled approximately $0.5 million in the line item other current assets. The fair value of foreign exchange contracts is determined using quoted prices for similar contracts obtained from financial institutions and is classified as a Level 2 measurement in the fair value hierarchy.

Nonrecurring Fair Value Measurements

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a nonrecurring basis as required by accounting principles generally accepted in the U.S. Typically, adjustments made to record assets at fair value on a nonrecurring basis are the result of impairment charges.

The Company did not record any impairment charges related to assets measured at fair value on a nonrecurring basis during the three months ended April 3, 2015 or March 28, 2014.

Other Fair Value Disclosures

The carrying amounts of cash and cash equivalents, receivables, accounts payable and accrued expenses, and loans and notes payable approximate their fair values because of the relatively short-term maturities of these instruments.

The fair value of the Notes, included on the consolidated balance sheets in current portion of long-term debt as of April 3, 2015 and long-term debt as of December 31, 2014, is estimated using Level 2 inputs based on dealer quoted prices for the debt instruments based on recent transactions obtained from various sources. As of April 3, 2015, the carrying amount and fair value of the Notes, were $375.0 million and $355.7 million, respectively. As of December 31, 2014, the carrying amount and fair value of the Notes, were $375.0 million and $346.9 million, respectively.

14

10. Other Operating Charges

Other operating charges incurred by operating segment were as follows:

	Three months ended
	April 3, 2015		March 28, 2014
	(in thousands)
U.S. Residential Products	$	—	$	108
U.S. Commercial Products	—		30
European Roll Coated Aluminum	268		—
European Engineered Products	242		423
Other non-allocated	1,753		404
Total other operating charges	$	2,263	$	965

For the three months ended April 3, 2015, other operating charges of $2.3 million were primarily comprised of retention costs, severance costs, and legal and professional fees. In the first quarter of 2015, Euramax Holdings instituted a retention compensation program for certain key executives in both North America and Europe to ensure the continuation of operational and strategic initiatives implemented in 2014, which the Company believes have resulted in significant improvements to the Company's operating results, and to secure the management team of the Company to address its pending debt maturities in the first quarter of 2016. Other non-allocated charges of $1.8 million were comprised of retention costs of $0.8 million, professional fees of $0.7 million, and severance costs of $0.3 million. Other operating charges in the European Coated Products segment totaled $0.3 million and were comprised primarily of executive retention costs. The remaining $0.2 million was primarily related to continuing restructuring initiatives in the European Engineered Products segment.

For the three months ended March 28, 2014, other operating charges of $1.0 million were primarily comprised of severance costs and legal and professional fees. Other non-allocated charges of $0.4 million were related to legal and professional fees for consulting services during the executive transition period. Ongoing restructuring initiatives in the European Engineered Products segment totaled $0.4 million, including approximately $0.3 million of severance costs in the UK and $0.1 million of severance costs for various social programs in France. The remaining $0.1 million of other operating costs in the three quarter of 2014 related to various organizational initiatives in the U.S. to reduce operating costs and improve efficiencies.

11. Segment Information

The Company manages its business and serves its customers through reportable segments differentiated by product type, end market, and geography. Beginning in the fourth quarter of 2014, the Company included net sales and the related cost of goods sold for certain commercial panels sold to customers in Residential markets within the U.S. Commercial Products Segment results. Previously, these products were included in the U.S. Residential Products Segment. The Company's results for the three months ended March 28, 2014 have been adjusted to reflect this change in reportable segments.

The Company's four reportable segments are described below:

U.S. Residential Products—The U.S. Residential Products segment utilizes aluminum, steel, copper and vinyl to produce residential roof drainage products, including preformed gutters, downspouts, elbows, soffit, drip edge, fascia, flashing, snow guards and related accessories. These products are used primarily for the repair, replacement or enhancement of residential roof drainage systems. The Company sells these products to home improvement retailers, lumber yards, distributors and contractors from manufacturing and distribution facilities throughout North America. The Company also produces specialty made-to-order vinyl replacement windows and aluminum patio and awning components sold primarily to home improvement contractors in the western U.S.

15

U.S. Commercial Products—The U.S. Commercial Products segment utilizes various materials including steel coil, aluminum coil and fiberglass to create various products with commercial applications, including roofing and siding panels, ridge caps, flashing, trim, soffit and other accessories as well as sidewall components, siding and other exterior components for the towable RV, cargo and manufactured housing markets. The Company sells these products to builders, contractors, lumber yards, home improvement retailers, OEMs, and RV manufacturers from manufacturing and distribution facilities located throughout the U.S. These products are used in the construction of a wide variety of small scale commercial, agricultural and industrial building types on either wood or metal frames, manufactured homes, and towable RVs.

European Roll Coated Aluminum—The European Roll Coated Aluminum segment uses a roll coating process to apply paint to bare aluminum coil and, to a lesser extent, bare steel coil in order to produce specialty coated coil, which the Company also processes into specialty coated sheets and panels. The Company sells these products to building panel manufacturers, contractors and UK “holiday home,” RV and transportation OEMs throughout Europe and in parts of Asia. The Company’s customers use its specialty coated metal products to manufacture, among other things, RV sidewalls, commercial roofing panels, interior ceiling panels, and liner panels for shipping containers. The Company produces and distributes these roll coated products from facilities located in the Netherlands and the UK.

European Engineered Products—The European Engineered Products segment utilizes aluminum and vinyl extrusions to produce residential windows, doors and shower enclosures. These products are sold to home improvement retailers, distributors and factory‑built “holiday home” builders in the UK. The Company also produces windows used in the operator compartments of heavy equipment, components sold to suppliers of automotive OEMs in Western Europe and RV doors. The Company produces and distributes these engineered products from facilities in France and the UK and has developed extensive in-house manufacturing capabilities, including powder coating, glass cutting, anodizing and glass toughening.

The Company evaluates the performance of its segments and allocates resources to them based primarily on segment income (loss) from operations. Expenses, income and assets that are not segment specific relate to the holding company and business activities conducted for the overall benefit of the Company, and accordingly, are not attributable to the Company’s segments.

The following table presents information about reported segments for the three months ended April 3, 2015:

	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products		Other Non- Allocated			Eliminations			Consolidated
Three months ended April 3, 2015	(in thousands)
Net sales:
Third party	$	56,853	$	65,504		$	46,939	$	16,303	$	—		$	—		$	185,599
Intersegment	191		41			171		—		—			(403		)	—
Total net sales	$	57,044	$	65,545		$	47,110	$	16,303	$	—		$	(403	)	$	185,599
(Loss) income from operations	$	1,725	$	(2,793	)	$	1,623	$	301	$	(4,143	)	$	—		$	(3,287	)
Depreciation and amortization	$	2,648	$	2,456		$	1,822	$	380	$	193		$	—		$	7,499
Capital expenditures	$	461	$	201		$	284	$	249	$	914		$	—		$	2,109

16

The following table presents information about reported segments for the three months ended March 28, 2014:

	U.S. Residential Products			U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Three months ended March 28, 2014	(in thousands)
Net sales:
Third party	$	45,943		$	57,456		$	49,928	$	16,577		$	—		$	—		$	169,904
Intersegment	179			28			209		—			—			(416		)	—
Total net sales	$	46,122		$	57,484		$	50,137	$	16,577		$	—		$	(416	)	$	169,904
(Loss) income from operations	$	(1,634	)	$	(4,680	)	$	3,929	$	(346	)	$	(2,279	)	$	—		$	(5,010	)
Depreciation and amortization	$	2,733		$	2,542		$	2,353	$	417		$	157		$	—		$	8,202
Capital expenditures	$	339		$	555		$	340	$	163		$	91		$	—		$	1,488

It is impractical for the Company to provide revenues from external customers by groups of similar products. Accordingly, the following table reflects revenues from external customers by markets for the periods indicated:

		Three months ended
Customers/Markets	Primary Products	April 3, 2015		March 28, 2014
		(in thousands)
Original Equipment Manufacturers (“OEMs”)	Painted aluminum sheet and coil; fabricated painted aluminum, laminated and fiberglass panels; windows and roofing; and composite building panels	$	56,608	$	55,735
Home Improvement Retailers	Rain carrying systems, metal panels, roofing accessories, windows, doors and shower enclosures	34,395		30,086
Industrial and Architectural Contractors	Metal panels and siding and roofing accessories	33,221		33,862
Rural Contractors	Steel and aluminum roofing and siding	21,641		18,904
Distributors	Metal coils, rain carrying systems and roofing accessories	19,030		14,299
Home Improvement Contractors	Vinyl replacement windows; metal coils, rain carrying systems; metal roofing and insulated roofing panels; shower, patio and entrance doors; and awnings	11,302		9,145
Manufactured Housing	Steel siding and trim components	9,402		7,873
		$	185,599	$	169,904

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12. Supplemental Guarantor Condensed Financial Information

On March 18, 2011, Euramax Holdings (presented as Parent in the following schedules), through its 100% owned subsidiary, Euramax International (presented as Issuer in the following schedules), issued the Notes. The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. No other subsidiaries of Euramax International, whether direct or indirect, guarantee the Notes (the "Non-Guarantor Subsidiaries").

Additionally, the Notes are secured on a second priority basis by liens on all of the collateral (subject to certain exceptions) securing the ABL Credit Facility. In the event that secured creditors exercise remedies with respect to Euramax International's pledged assets, the proceeds of the liquidation of those assets will first be applied to repay obligations secured by the first priority liens under the senior secured credit facilities and any other first priority obligations.

The Indenture contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These limitations also limit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan or otherwise.

The following supplemental condensed consolidating financial statements present the results of operations, comprehensive operations, financial position and cash flows of (1) the Parent, (2) the Issuer, (3) the Non-Guarantor Subsidiaries, and (4) eliminations to arrive at the information for Euramax Holdings on a consolidated basis.

18

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

APRIL 3, 2015

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1		$	1,867		$	—		$	1,868
Accounts receivable, less allowance for doubtful accounts	—			44,951			43,406			—			88,357
Inventories, net	—			82,166			28,482			—			110,648
Income taxes receivable	—			538			1,359			—			1,897
Deferred income taxes	—			382			42			—			424
Other current assets	—			6,188			1,562			—			7,750
Total current assets	—			134,226			76,718			—			210,944
Property, plant and equipment, net	—			51,230			52,807			—			104,037
Amounts due from affiliates	—			180,183			18,275			(198,458		)	—
Goodwill	—			81,358			99,301			—			180,659
Customer relationships, net	—			15,069			7,685			—			22,754
Other intangible assets, net	—			6,365			—			—			6,365
Investment in consolidated subsidiaries	(198,078		)	(3,955		)	—			202,033			—
Deferred income taxes	—			—			179			—			179
Other assets	—			2,477			1,447			—			3,924
Total assets	$	(198,078	)	$	466,953		$	256,412		$	3,575		$	528,862
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	59,679		$	24,093		$	—		$	83,772
Accrued expenses and other current liabilities	110			14,806			10,149			—			25,065
Accrued interest payable	—			11			74			—			85
Current portion of long-term debt	—			434,826			15,186			—			450,012
Deferred income taxes	—			—			811			—			811
Total current liabilities	110			509,322			50,313			—			559,745
Long-term debt	—			124,408			—			—			124,408
Amounts due to affiliates	5,887			10,811			181,760			(198,458		)	—
Deferred income taxes	—			11,121			2,952			—			14,073
Other liabilities	—			9,369			25,342			—			34,711
Total liabilities	5,997			665,031			260,367			(198,458		)	732,937
Shareholders’ (deficit) equity:
Common stock	196			—			21			(21		)	196
Additional paid-in capital	724,661			661,769			199,452			(861,221		)	724,661
Accumulated loss	(934,440		)	(865,355		)	(214,471		)	1,079,826			(934,440		)
Accumulated other comprehensive income	5,508			5,508			11,043			(16,551		)	5,508
Total shareholders’ (deficit) equity	(204,075		)	(198,078		)	(3,955		)	202,033			(204,075		)
Total liabilities and shareholders’ (deficit) equity	$	(198,078	)	$	466,953		$	256,412		$	3,575		$	528,862

19

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

DECEMBER 31, 2014
(in thousands)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	4		$	2,070		$	—		$	2,074
Accounts receivable, less allowance for doubtful accounts	—			39,607			40,722			—			80,329
Inventories, net	—			75,512			30,873			—			106,385
Income taxes receivable	—			235			1,499			—			1,734
Deferred income taxes	—			381			45			—			426
Other current assets	—			5,425			1,584			—			7,009
Total current assets	—			121,164			76,793			—			197,957
Property, plant and equipment, net	—			53,042			58,122			—			111,164
Amounts due from affiliates	—			202,008			19,277			(221,285		)	—
Goodwill	—			81,359			108,799			—			190,158
Customer relationships, net	—			16,826			9,489			—			26,315
Other intangible assets, net	—			6,495			—			—			6,495
Investment in consolidated subsidiaries	(167,335		)	(5,318		)	—			172,653			—
Deferred income taxes	—			—			—			—			—
Other assets	—			2,883			1,804			—			4,687
Total assets	$	(167,335	)	$	478,459		$	274,284		$	(48,632	)	$	536,776
LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	49,869		$	28,977		$	—		$	78,846
Accrued expenses and other current liabilities	—			16,284			9,225			—			25,509
Accrued interest payable	—			12,837			75			—			12,912
Current portion of long term debt	—			—			4,663			—			4,663
Deferred income taxes	—			—			895			—			895
Total current liabilities	—			78,990			43,835			—			122,825
Long-term debt	—			534,852			—			—			534,852
Amounts due to affiliates	5,771			11,982			203,532			(221,285		)	—
Deferred income taxes	—			10,468			5,426			—			15,894
Other liabilities	—			9,502			26,809			—			36,311
Total liabilities	5,771			645,794			279,602			(221,285		)	709,882
Shareholders’ (deficit) equity:
Common stock	196			—			21			(21		)	196
Additional paid-in capital	724,562			661,673			199,453			(861,126		)	724,562
Accumulated loss	(903,029		)	(834,173		)	(215,570		)	1,049,743			(903,029		)
Accumulated other comprehensive income	5,165			5,165			10,778			(15,943		)	5,165
Total shareholders’ (deficit) equity	(173,106		)	(167,335		)	(5,318		)	172,653			(173,106		)
Total liabilities and shareholders’ (deficit) equity	$	(167,335	)	$	478,459		$	274,284		$	(48,632	)	$	536,776

20

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED APRIL 3, 2015
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	121,117		$	66,026		$	(1,544	)	$	185,599
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			106,810			55,321			(1,544		)	160,587
Selling and general (excluding depreciation and amortization)	229			11,901			6,407			—			18,537
Depreciation and amortization	—			5,262			2,237			—			7,499
Other operating charges	—			1,753			510			—			2,263
(Loss) income from operations	(229		)	(4,609		)	1,551			—			(3,287		)
Equity in earnings (losses) of subsidiaries	(31,182		)	1,099			—			30,083			—
Interest expense	—			(13,545		)	(389		)	—			(13,934		)
Intercompany income (loss), net	—			3,780			(3,780		)	—			—
Other (loss) income, net	—			(17,479		)	2,014			—			(15,465		)
Loss before income taxes	(31,411		)	(30,754		)	(604		)	30,083			(32,686		)
(Benefit from) provision for income taxes	—			428			(1,703		)	—			(1,275		)
Net loss	$	(31,411	)	$	(31,182	)	$	1,099		$	30,083		$	(31,411	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED APRIL 3, 2015

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor		Eliminations			Total
Net loss	$	(31,411	)	$	(31,182	)	$	1,099	$	30,083		$	(31,411	)
Other comprehensive income:
Foreign currency translation adjustment	221			221			221		(442		)	221
Defined benefit pension plan adjustments, net of tax	122			122			44		(166		)	122
Total comprehensive loss	$	(31,068	)	$	(30,839	)	$	1,364	$	29,475		$	(31,068	)

21

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED MARCH 28, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	101,846		$	69,582		$	(1,524	)	$	169,904
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			91,773			56,722			(1,524		)	146,971
Selling and general (excluding depreciation and amortization)	118			12,411			6,247			—			18,776
Depreciation and amortization	—			5,389			2,813			—			8,202
Other operating charges	—			542			423			—			965
(Loss) income from operations	(118		)	(8,269		)	3,377			—			(5,010		)
Equity in earnings (losses) of subsidiaries	(19,154		)	(1,692		)	—			20,846			—
Interest expense	—			(13,407		)	(358		)	—			(13,765		)
Intercompany income (loss), net	—			4,565			(4,565		)	—			—
Other income (loss), net	—			317			(121		)	—			196
Loss before income taxes	(19,272		)	(18,486		)	(1,667		)	20,846			(18,579		)
Provision for income taxes	—			668			25			—			693
Net loss	$	(19,272	)	$	(19,154	)	$	(1,692	)	$	20,846		$	(19,272	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 28, 2014

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(19,272	)	$	(19,154	)	$	(1,692	)	$	20,846		$	(19,272	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(389		)	(389		)	(389		)	778			(389		)
Defined benefit pension plan adjustments, net of tax	20			20			18			(38		)	20
Total comprehensive loss	$	(19,641	)	$	(19,523	)	$	(2,063	)	$	21,586		$	(19,641	)

22

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWSFOR THE THREE MONTHS ENDED APRIL 3, 2015
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash used in operating activities	$	—	$	(25,168	)	$	(7,302	)	$	—		$	(32,470	)
Cash flows from investing activities:
Proceeds from sale of assets	—		43			—			—			43
Capital expenditures	—		(1,563		)	(546		)	—			(2,109		)
Due (to) from affiliates	—		—			(2,478		)	2,478			—
Net cash used in investing activities	—		(1,520		)	(3,024		)	2,478			(2,066		)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	—		24,207			—			—			24,207
Net borrowings on European Credit Facilities	—		—			10,523			—			10,523
Due from (to) affiliates	—		2,478			—			(2,478		)	—
Net cash provided by financing activities	—		26,685			10,523			(2,478		)	34,730
Effect of exchange rate changes on cash	—		—			(400		)	—			(400		)
Net decrease in cash and cash equivalents	—		(3		)	(203		)	—			(206		)
Cash and cash equivalents at beginning of period	—		4			2,070			—			2,074
Cash and cash equivalents at end of period	$	—	$	1		$	1,867		$	—		$	1,868

23

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWSFOR THE THREE MONTHS ENDED MARCH 28, 2014
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash (used in) provided by operating activities	$	—	$	4,233		$	(8,119	)	$	—		$	(3,886	)
Cash flows from investing activities:
Proceeds from sale of assets	—		43			—			—			43
Capital expenditures	—		(976		)	(512		)	—			(1,488		)
Due (to) from affiliates	—		—			(8,616		)	8,616			—
Net cash used in investing activities	—		(933		)	(9,128		)	8,616			(1,445		)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	—		—			14,657			—			14,657
Net repayments on ABL Credit Facility	—		(13,756		)	—			—			(13,756		)
Changes in cash overdrafts	—		236			—			—			236
Debt issuance costs	—		(88		)	—			—			(88		)
Due from (to) affiliates	—		8,616			—			(8,616		)	—
Net cash provided by (used in) financing activities	—		(4,992		)	14,657			(8,616		)	1,049
Effect of exchange rate changes on cash	—		—			(297		)	—			(297		)
Net decrease in cash and cash equivalents	—		(1,692		)	(2,887		)	—			(4,579		)
Cash and cash equivalents at beginning of period	—		1,700			7,277			—			8,977
Cash and cash equivalents at end of period	$	—	$	8		$	4,390		$	—		$	4,398

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Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations

Forward-Looking Statements

This report contains forward-looking statements. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "believe," "could," "may'," "expect," "potential," "future," "continue," "anticipate," "intend," "estimate" and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. Our forward-looking statements include, among others, statements about our business strategy, our industry, our future profitability, our expected capital expenditures and the impact of such expenditures on our performance, the costs of operating as a public company, our capital programs and environmental expenditures. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including the factors described under "Item 1A. Risk Factors," that may cause our actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. Such risks and uncertainties include, among other things:

• the cyclical nature of the markets we serve;

• the general level of economic activity both in North America and international markets;

• the loss or reduction of purchases by key customers;

• external factors which impact our key retail customers and reduce purchases of our products;

• change in strategic direction by our key retail customers;

• the effect of price competition in key markets and product lines;

• margin compression associated with higher operating costs which may not be recovered through increased customer pricing;

• consolidation of purchasing power among our customers;

• the supply and price levels of essential raw materials, particularly aluminum and steel;

• risks associated with the manufacturing process due to operating hazards and interruptions, including unscheduled maintenance or downtime;

• risks associated with revenue concentration at our key home improvement retail customers;

• risks associated with higher energy costs and the risk of disruptions in energy suppliers;

• the adequacy of our insurance coverage;

• our ability to effectively compete in the markets we serve;

• increased fuel costs which could adversely impact the RV industry;

• higher interest rates which could adversely impact the RV industry;

• the integrity of our information systems;

• seasonal effects on our customers' purchasing activity;

• adverse weather conditions;

• disruption in our supply chain or distribution of finished product;

• our ability to adequately protect our intellectual property rights and successfully defend against third-party claims of intellectual property infringement;

• higher fuel costs leading to increased transportation and distribution costs;

• the effect of product liability or warranty claims against us;

• the proliferation of low-cost competition, particularly in our core North American markets;

• environmental, health and safety laws and regulations;

• changes in commercial or residential building codes;

• our significant indebtedness, and our ability to incur additional debt in the future;

• our ability to remain compliant under the agreements governing our indebtedness;

• our ability to refinance our indebtedness, extend the maturity thereof or generate sufficient cash to service all of our indebtedness;

• restrictions under our existing or future debt agreements that limit our operations;

• exposure to adjustments in interest rates;

• declines in our credit and debt ratings;

• instability in the capital and credit markets;

• the risks of doing business in foreign countries;

• fluctuations in foreign currency exchange rates;

• inability to effectively reinvest in our plants, technology, equipment and new product development due to our indebtedness;

• exposure to U.S. and foreign anti-corruption laws and economic sanctions programs;

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• state, local and non-U.S. taxes and fluctuations in our tax obligations and effective tax rate;

• adverse effects of foreign taxation;

• adverse changes to accounting rules or regulations;

• the success of our acquisitions or divestitures;

• our ability to attract and retain qualified management and key personnel, including hourly personnel;

• labor and work stoppages;

• the effects of inflation on our business;

• the effects of government or regulatory activity, compliance with environmental, and occupational health and safety laws and regulations can be costly, and we have incurred and will continue to incur costs, including capital expenditures, to comply with these requirements;

• the potential for future impairment of our goodwill or other intangible assets; and

• global or regional catastrophic events.

You should not place undue reliance on our forward-looking statements. Although forward-looking statements reflect our good faith beliefs, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. We caution you that the important factors referenced above may not contain all of the factors that could impair our results or that may be important to you. In addition, we cannot assure you that we will realize the results or developments we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our operations in the way we expect. The forward-looking statements included in this report are made only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent required by law, rule or regulation.

Business Overview

We are a leading producer of metal and vinyl products sold to the residential repair and remodel, commercial construction and recreational vehicle (RV) markets primarily in North America and Europe. We are a leader in several niche product categories, including preformed roof-drainage products sold in the U.S., metal roofing and siding for post frame construction in the U.S., and aluminum siding for towable RVs in the U.S. and Europe.

Our customers are located predominantly throughout North America and Europe and include distributors, contractors and home improvement retailers, as well as RV, transportation and other original equipment manufacturers, or OEMs. We have extensive in-house manufacturing and distribution capabilities for our more than 10,000 unique products and operate through a network consisting of 35 facilities, including 29 located in the United States, one in Canada and 5 located in Europe. We have over 50 years of experience manufacturing building products and RV exterior components, including our time as a division of our former parent, Alumax Inc., or Alumax, a fully integrated aluminum producer acquired by Alcoa Inc. in 1998. We have operated as an independent company since 1996 when our division was acquired in a management-led buyout.     

Results of Operations

Our financial performance is affected by, among other factors, underlying trends in the United States and Europe that influence demand for products sold to residential repair and remodeling, commercial construction and RV markets:

• Our building products sold for residential repair and remodeling activities include roof drainage products, vinyl windows, patios and awnings, and doors. Projects that utilize many of our roof drainage repair and remodeling products are often low cost activities that are necessary to prevent home damage as a result of wear and tear or weather damage. Roof drainage repair projects are often low cost and non‑discretionary in nature. Repair and remodeling activity related to products other than roof drainage are typically higher cost and driven by turnover and aging of housing stock, consumer sentiment, availability of home equity and consumer financing and, in the case of our vinyl window products, consumer interest in energy efficiency.

• Our building products sold for commercial construction include, in the United States, light gauge steel and aluminum roofing and siding panels, trim and hardware and, in Europe, the Middle East and Asia, roll coated aluminum coil and sheet. Demand for these products is driven by consumer confidence, interest rates, consumer disposable income, the strength of agricultural markets, consumer access to affordable financing and commercial construction trends.

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• Our commercial products sold to the RV market include siding and roofing. Demand for these RV products is driven by trends in disposable income, interest rates and general economic conditions, as well as similar demographic trends relating to the increased proportion of the United States and European population in the 55 through 74 year old age group, who serve as an important source of demand for our RV products.

Our sales volumes have historically been higher in the second and third quarters due to the seasonal demand of the building products markets served. Our working capital needs have been at their highest during these periods as well.

Three months ended April 3, 2015 Compared to the Three months ended March 28, 2014.

The following table sets forth net sales and income (loss) from operations data by segment for the three months ended April 3, 2015 and March 28, 2014:

	Net Sales					Income (Loss) from Operations
	Three months ended					Three months ended
	April 3, 2015		March 28, 2014		Increase (Decrease)	April 3, 2015			March 28, 2014			Increase (Decrease)
	(in millions)
U.S. Residential Products	$	56.9	$	45.9	24.0%	$	1.7		$	(1.6	)	206.3%
U.S. Commercial Products	65.5		57.5		13.9%	(2.8		)	(4.7		)	40.4%
European Roll Coated Aluminum	46.9		49.9		(6.0)%	1.6			3.9			(59.0)%
European Engineered Products	16.3		16.6		(1.8)%	0.3			(0.3		)	200.0%
Other Non-Allocated	—		—		—%	(4.1		)	(2.3		)	(78.3)%
Totals	$	185.6	$	169.9	9.2%	$	(3.3	)	$	(5.0	)	34.0%

Net Sales. Net sales include revenue recognized from the sales of our products less provisions for returns, allowances, rebates and discounts. Our net sales increased$15.7 million, or 9.2%, to $185.6 million in the first quarter of 2015 compared to $169.9 million in the first quarter of 2014. Foreign currency translation resulted in an approximate $11.5 million decrease in net sales during the first quarter of 2015 primarily as a result of the weakening of the euro and British pound sterling against the U.S. dollar compared to the first quarter of 2014. Excluding the impact of foreign exchange, net sales increased $27.2 million, or 16.0%.

Total net sales for our U.S. segments increased$19.0 million, or 18.4%, to $122.4 million in the first quarter of 2015 compared to $103.4 million in the first quarter of 2014.

Net sales of our U.S. Residential Products segment increased$11.0 million, or 24.0%, to $56.9 million in the first quarter of 2015 compared to $45.9 million in the first quarter of 2014. The increase in net sales resulted primarily from greater demand from distributors, home improvement retailers and other retailers for our roof drainage, roof edge and related products during the first quarter of 2015 compared to 2014. Additionally, higher sales in our vinyl window and patio offerings were driven by broader improvements in the residential repair and remodel sector.

Net sales of our U.S. Commercial Products segment increased$8.0 million, or 13.9%, to $65.5 million in the first quarter of 2015 compared to $57.5 million in the first quarter of 2014. Higher net sales resulted from increased demand from OEMs in the RV market and distributors and contractors in the post frame construction market. Net sales increases were partially offset by a decline in demand in the architectural construction market.

Total net sales for our European segments declined$3.3 million, or 5.0%, to $63.2 million in the first quarter of 2015 compared to $66.5 million in the first quarter of 2014. Foreign currency translation resulted in an approximate $11.5 million decrease in net sales during the first quarter of 2015 as a result of the weakening of the euro and British pound sterling against the U.S. dollar. Excluding the impact of foreign exchange, net sales increased $8.2 million, or 12.3%.

27

Net sales of our European Roll Coated Aluminum segment declined$3.0 million, or 6.0%, to $46.9 million in the first quarter of 2015 compared to $49.9 million in the first quarter of 2014. Foreign currency translation resulted in lower net sales of approximately $9.0 million compared to the prior year period as a result of the weakening of the euro and British pound sterling against the U.S. dollar. Excluding the impact of foreign currency, sales increased $6.0 million, or 12.0%. Net sales improvement, excluding the impact of foreign exchange, resulted primarily from ongoing business development initiatives in emerging markets.

Net sales of our European Engineered Products segment declined$0.3 million, or 1.8% to $16.3 million in the first quarter of 2015 compared to $16.6 million in the first quarter of 2014. Weakening of foreign currencies, primarily the euro and British pound sterling against the U.S. dollar, resulted in lower net sales of approximately $2.5 million compared to the first quarter of 2014. Excluding the impact of foreign currency, net sales increased $2.2 million. This increase in net sales, excluding the impact of foreign exchange, is primarily due to higher demand from OEMs in the holiday home market in the UK for the first quarter of 2015.

Cost of Goods Sold. Cost of goods sold includes the cost of raw materials, manufacturing labor, packaging, utilities, freight, maintenance and other elements of manufacturing overhead. Cost of goods sold increased$13.6 million, or 9.3%, to $160.6 million in the first quarter of 2015 compared to $147.0 million in the first quarter of 2014. Foreign currency translation resulted in lower cost of goods sold of approximately $9.7 million as a result of the weakening of the euro and British pound sterling against the U.S. dollar. Excluding the impact of foreign currency, cost of goods sold increased $23.3 million, or 15.9%. The remaining increase in cost of goods sold is primarily related to higher raw material, labor, packaging and utilities due to higher sales volumes. These increases were partially offset by lower variable labor costs as a result of efficiency improvements and cost reducing initiatives in both North America and Europe.

Selling and General. Selling and general expenses include salaries, benefits, incentive compensation, insurance, travel and entertainment and other administrative costs. Selling and general expenses declined$0.3 million, or 1.6%, to $18.5 million in the first quarter of 2015 compared to $18.8 million in the first quarter of 2014. Foreign currency translation resulted in lower selling and general costs of approximately $1.0 million as a result of the weakening of the euro and British pound sterling against the U.S. dollar. Excluding the impact of foreign exchange, selling and general expenses increased $0.7 million, or 3.7%. Selling and general expense was negatively impacted by a $1.2 million loss recorded during the first quarter of 2015 related to the write off of receivables in our European Roll Coated Aluminum segment due to the bankruptcy of a customer in the UK. Selling and general expense increases related to higher sales volume were generally offset by organizational initiatives to improve efficiency and streamline operations.

Depreciation and Amortization. Depreciation and amortization declined$0.7 million, or 8.5%, to $7.5 million in the first quarter of 2015 compared to $8.2 million in the first quarter of 2014. Foreign currency translation resulted in lower depreciation and amortization expense of $0.4 million. Excluding the impact of foreign exchange, depreciation and amortization declined $0.3 million.

Other Operating Charges.Other operating charges are comprised of restructuring initiatives, facility closures, and other operational initiatives. Other operating charges of $2.3 million in the first quarter of 2015increased$1.3 million compared to $1.0 million in the first quarter of 2014.

In the first quarter of 2015, other operating charges of $2.3 million were primarily comprised of retention costs, severance, and legal and professional fees. In the first quarter of 2015 Euramax Holdings instituted a retention compensation program for certain key executives in both North America and Europe to ensure the continuation of operational and strategic initiatives implemented in 2014, which the Company believes have resulted in significant improvements to the Company's operating results, and to secure the management team of the Company addresses its pending debt maturities in the first quarter of 2016. Other non-allocated charges of $1.8 million were comprised of retention costs of $0.8 million, professional fees of $0.7 million, and severance of $0.3 million. Other operating charges in the European Coated Products segment totaled $0.3 million and were comprised primarily of executive retention costs. The remaining $0.2 million was primarily related to continuing restructuring initiatives in the European Engineered Products segment.

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In the first quarter of 2014, other operating charges of approximately $1.0 million were primarily comprised of severance costs and legal and professional fees. Other non-allocated charges of $0.4 million were primarily related to legal and professional fees for consulting services during the executive transition period. Ongoing restructuring initiatives in the European Engineered Products segment totaled $0.4 million, including approximately $0.3 million of severance in the UK and $0.1 million of severance costs for various social programs in France. The remaining $0.1 million related to various organizational initiatives in the U.S. to reduce operating costs and improve efficiencies.

Income (Loss) from Operations. As a result of the aforementioned items, our loss from operations improved $1.7 million, to a loss of $3.3 million in the first quarter of 2015 compared to a loss of $5.0 million for the first quarter of 2014. Foreign currency translation negatively impacted our loss from operations by $0.4 million. Excluding the impact of foreign exchange, our loss from operations improved $2.1 million, or 42.0% compared to the first quarter of 2014.

Income (loss) from operations of our U.S. Residential Products segment improved$3.3 million to income of $1.7 million in the first quarter of 2015 compared to a loss of $1.6 million in the first quarter of 2014. Excluding the decrease in other operating charges of $0.1 million, income from operations increased $3.2 million. This improvement is primarily related to higher sales volumes compared to the first quarter of 2014 and a reduction in selling and general expenses as a result of operational initiatives to improve efficiency and reduce cost which began in the second half of 2014.

Loss from operations of our U.S. Commercial Products segment improved$1.9 million to a loss of $2.8 million in the first quarter of 2015 compared to a loss of $4.7 million in the first quarter of 2014. This improvement is primarily the result of higher sales volumes compared to the first quarter of 2014 and a reduction in selling and general expenses as a result of operational initiatives to improve efficiency and reduce cost which began in the second half of 2014.

Income from operations of our European Roll Coated Aluminum segment declined$2.3 million to $1.6 million in the first quarter of 2015 compared to $3.9 million in the first quarter of 2014. Excluding the increase in other operating charges of $0.3 million, income from operations declined $2.0 million. Foreign currency translation negatively impacted income from operations by $0.3 million. The decline in operating income was primarily due to the $1.2 million loss on the write off of specific receivables due to the bankruptcy of a customer in the UK during the first quarter of 2015. Higher cost of goods sold related to increased raw material and direct labor costs also contributed to the decline in operating income compared to the first quarter of 2014.

Income (loss) from operations of our European Engineered Products segment improved$0.6 million to income of $0.3 million in the first quarter of 2015 compared to a loss of $0.3 million in the first quarter of 2014. Excluding the decrease in other operating charges of $0.2 million, income from operations improved $0.4 million over the prior year. This improvement in income from operations is driven primarily by increased demand in the UK holiday home market. The impact of organizational initiatives to streamline operations and improve efficiency and a focus on customer and product profitability initiatives have also contributed to the improvement over prior year quarter.

Interest Expense. Interest expense for the first quarter of 2015 and for the first quarter of 2014 totaled approximately $13.9 million and $13.8 million, respectively. Interest expense is primarily comprised of interest on our Notes, Senior Unsecured Loan Facility, ABL Credit Facility, and Dutch Revolving Credit Facility.

Other Income (Loss), Net.Other income (loss), net includes translation gains and losses on intercompany obligations, gains and losses on asset disposals, interest income and other income or expense items of a non-operating nature.

Other loss, net in the first quarter of 2015 of $15.5 million consisted primarily of translation losses on intercompany obligations due to the weakening of the euro compared to the U.S. dollar totaling $16.2 million, which were partially offset by gains on forward foreign currency contracts of $0.8 million.

Other income, net in the first quarter of 2014 of $0.2 million consisted primarily of translation gains on intercompany obligations due to the strengthening of the euro compared to the U.S. dollar totaling $0.2 million.

(Benefit from) Provision for Income Taxes. We reported an income tax benefit of $1.3 million for the first quarter of 2015 compared to a provision of $0.7 million for the first quarter of 2014. Our effective tax rates were a benefit of 3.9% for the three months ended April 3, 2015 and provision of 3.7% for the three months ended March 28, 2014.

29

The effective rate for the first quarter of 2015 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.

The effective rate for the first quarter of 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, and recognition of valuation allowances related to net losses in the UK and in U.S. federal and state jurisdictions.

Our effective tax rate reflects a full valuation allowance on losses in the U.S. Without a valuation allowance, earnings from the United States are generally taxed at rates higher than the foreign statutory tax rates. The effective tax rate also reflects a full valuation allowance on losses in the UK. A change in the mix of pretax income from the various tax jurisdictions can have a significant impact on our periodic effective tax rate.

Net Loss. Our net loss was $31.4 million for the first quarter of 2015 compared to a net loss of $19.3 million for the first quarter of 2014. The increase in net loss was primarily the result of $16.6 million in unrealized foreign currency translation losses primarily on intercompany obligations in the first quarter of 2015 compared to unrealized gains of $0.2 million in the first quarter of 2014. Excluding these items, net loss declined $4.7 million for the first quarter of 2015 compared to the first quarter of 2014.

Liquidity and Capital Resources

Our principal sources of liquidity are from cash and cash equivalents, cash from operations and borrowings under our ABL Credit Facility and Dutch Revolving Credit Facility. As of April 3, 2015, we had cash and cash equivalents of $1.9 million. Net cash used in operating activities was $32.5 million for the three months ended April 3, 2015 compared to net cash used in operating activities of $3.9 million for the three months ended March 28, 2014. As of April 3, 2015, we had $59.8 million outstanding and availability of $10.2 million under our ABL Credit Facility and $14.2 million outstanding and availability of $2.3 million on our Dutch Revolving Credit Facility.

Our ability to make debt service payments, refinance our indebtedness, maintain capital assets and satisfy our other capital and commercial commitments will depend on our ability to generate cash flow in the future. This ability, to a certain extent, is subject to general economic, financial, competitive, legislative, regulatory and other factors. While these factors are beyond our control, we frequently invest in sources of liquidity with the intent of improving our ability to generate future cash flow. Such investments have, and may in the future, include product development initiatives, restructuring and growth oriented capital expenditures, and business acquisitions. The Notes are due on April 1, 2016, with amounts outstanding as of April 3, 2015, of $375 million. In the event the Notes are not refinanced prior to December 31, 2015, the ABL Credit Facility becomes due on January 31, 2016. As of April 3, 2015, we classified our outstanding long-term debt under the Notes and the ABL Credit Facility totaling $375 million and $59.8 million, respectively, as current liabilities on our consolidated balance sheet since we have not finalized the refinancing of the Notes. We are currently exploring several alternatives to complete the refinancing of the Notes prior to December 31, 2015. We cannot assure that our business will generate sufficient cash flow from operations, that net sales growth and operating improvements will be realized or that future borrowings will be available under the ABL Credit Facility in an amount sufficient to enable us to service our indebtedness or to fund our other liquidity needs. In particular, the availability under the ABL Credit Facility is determined based on a borrowing base which can decline due to various factors. We may not be able to generate sufficient cash to service all of the indebtedness, including the Notes, and may not be able to refinance the indebtedness on favorable terms. If we are unable to do so, we may be forced to take other actions to satisfy its obligations under the indebtedness, which may not be successful.

Debt

In the first quarter of 2015, the Company reclassified outstanding borrowings on the Senior Secured Notes (the "Notes") and the ABL Credit Facility totaling $375 million and $59.8 million, respectively, from long term debt to current liabilities on the consolidated balance sheet as the maturity date for these debt facilities are within 12 months of the Company's first quarter interim reporting period. The Senior Secured Notes mature on April 1, 2016 and amounts outstanding on the ABL Credit Facility are due on January 31, 2016 in the event the Notes are not refinanced prior to December 31, 2015.

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Notes

Our Notes consist of an aggregate principal amount of $375 million, which were issued pursuant to an indenture (the "Indenture"), dated March 18, 2011, among Euramax Holdings, Inc. ("Euramax Holdings"), Euramax International, Inc. ("Euramax International"), and certain of its domestic subsidiaries as guarantors, and Wells Fargo Bank, National Association, the Trustee.The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. The Notes bear interest at 9.50% per year and mature on April 1, 2016, unless earlier redeemed or repurchased by Euramax International. Interest is payable semi-annually on April 1 and October 1 of each year.

The Notes are secured by a first priority security interest in (i) substantially all of the assets of Euramax International and the guarantors (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International's capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a guarantor and 65% of the voting capital stock and 100% of any non-voting capital stock of foreign restricted subsidiaries directly owned by us or a guarantor, and a second priority security interest in our inventory, receivables and related assets.

The Notes may be redeemed at Euramax International's option, in whole or in part, under the conditions specified in the Indenture, at the following redemption prices plus accrued and unpaid interest to the redemption date, if redeemed during the twelve month period beginning on April 1 of the years indicated:

Year	Percentage
2013	107.125	%
2014	104.750	%
2015 and thereafter	100.000	%

The Indenture governing the Notes contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These limitations also limit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan, or otherwise. The Indenture also contains customary events of default. If Euramax International undergoes a change of control (as defined in the Indenture), Euramax International will be required to make an offer to repurchase the notes at 101% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to the date of redemption. As of April 3, 2015, Euramax International is in compliance with the covenants under the Indenture.

As of April 3, 2015, the $375 million outstanding under the Notes has been reclassified from long-term debt to current liabilities on the consolidated balance sheet.

Senior Unsecured Loan Facility

In March 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries entered into the Senior Unsecured Loan Facility with investment funds affiliated with Highland Capital Management, L.P. and Levine Leichtman Capital Partners, as lenders in the aggregate principal amount of $125.0 million. The indebtedness incurred under the Senior Unsecured Loan Facility was issued at 98% of par on March 18, 2011 and matures on October 1, 2016. The difference between the consideration received and the aggregate face amount of the Senior Unsecured Loan Facility ($0.6 million) is being amortized and recorded in interest expense using the effective interest rate method over the term. The Senior Unsecured Loan Facility bears interest at 12.25% per year in the event no election is made to pay interest in kind (PIK), and 14.25% (7.875% cash pay and 6.375% PIK) per year in the event a PIK election is made. Euramax International may make a PIK election for up to six quarters during the term of the Senior Unsecured Loan Facility. The interest rate on outstanding borrowings at April 3, 2015 was 12.25% as Euramax International has not made a PIK election. During the second quarter of 2014, Levine Leichtman Capital Partners assigned its holdings in the Senior Unsecured Loan Facility to Credit Suisse Loan Funding LLC.

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Euramax International may prepay outstanding amounts under the Senior Unsecured Loan Facility, in whole or in part, at the prices (expressed as a percentage of the loans) set forth below:

Prepayment Date	Percentage
On or after the second anniversary of the closing but prior to the third anniversary thereof	103	%
On or after the third anniversary of the closing but prior to the fourth anniversary thereof	102	%
On or after the fourth anniversary of the closing	100	%

Upon a change of control, Euramax International may be required to prepay all or a portion of the Senior Unsecured Loan Facility at a price equal to 101% of the principal amount plus accrued and unpaid interest.All obligations under the Senior Unsecured Loan Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and substantially all of Euramax International's existing and future direct and indirect 100% owned domestic material restricted subsidiaries subject to certain exceptions.

The Senior Unsecured Loan Facility contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of our assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants.

The Senior Unsecured Loan Facility contains certain customary representations and warranties, affirmative covenants and events of default, including among other things, payment defaults, covenant defaults, cross‑defaults to certain indebtedness, certain events of bankruptcy, material judgments, and failure of any guaranty supporting the Senior Unsecured Loan Facility to be in force and effect in any material respect. If such an event of default occurs, the administrative agent would be entitled to take various actions, including the acceleration of amounts due under the Senior Unsecured Loan Facility and all actions permitted to be taken by an unsecured creditor. As of April 3, 2015, Euramax International was in compliance with the covenants under the Credit and Guaranty Agreement governing the Senior Unsecured Loan Facility.

ABL Credit Facility

On March 18, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries entered into the ABL Credit Facility with various lenders, Regions Bank, as Collateral and Administrative Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent, and Regions Business Capital, as Sole Lead Arranger and Bookrunner. The ABL Credit Facility provides for revolving credit financing of up to $70 million, subject to a borrowing base, and matures on March 1, 2018. However, if the Agent has not received on or before December 31, 2015, evidence satisfactory to Agent that the scheduled maturity dates of the indebtedness arising under the Indenture and the Senior Unsecured Loan Facility, in each case, have been extended to a date that is 90 or more days following March 1, 2018, then the maturity date for the ABL Credit facility shall be January 31, 2016. In March 2014, Wells Fargo Capital Finance, LLC ceased to be Co-Collateral Agent and a Lender under the ABL Credit Facility.

Borrowings under the ABL Credit Facility bear interest at a rate per annum equal to either (a) LIBOR plus an applicable margin or (b) a base rate determined by reference to the highest of (1) the prime commercial lending rate published by Regions Bank as its “prime rate” for commercial loans, (2) the federal funds effective rate plus 0.50% and (3) the one-month LIBOR plus 1.00%, plus an applicable margin. The applicable margin is dependent upon the type of borrowings Euramax International has made under the ABL Credit Facility. At April 3, 2015, the applicable margins are subject to Euramax International’s Average Excess Availability Percentage for the most recently ended fiscal quarter and range from 1.75% to 2.25% for LIBOR borrowings and 1.00% to 1.25% for Base Rate borrowings. The weighted average interest rate at April 3, 2015, including the applicable margin payable on outstanding borrowings under the ABL Credit Facility, was 2.25%. The ABL Credit Facility requires Euramax International to pay a commitment fee ranging from 0.375% to 0.5%, based on the unutilized commitments. Euramax International is also required to pay customary letter of credit fees, including, without limitation, a letter of credit fee equal to the applicable margin on revolving credit LIBOR loans and fronting fees.

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On February 6, 2015 and March 23, 2015, Euramax Holdings entered into the Ninth and Tenth Amendments (the “Amendments”), respectively, to the ABL Credit Facility. Borrowings under the revolving credit facility made available pursuant to the ABL Credit Facility are subject to a borrowing base limit and satisfaction of certain conditions. The borrowing base for the existing revolving credit facility includes, subject to notice by the Company and the satisfaction of certain other specified conditions, three mutually exclusive seasonal overadvance amounts, “Seasonal Overadvance (Type A)” in the amount of $15.0 million, “Seasonal Overadvance (Type B)” in the amount of $9.0 million and “Seasonal Overadvance (Type C)” in the amount of $6.0 million. Pursuant to the Amendments, the Company requested the addition of the “Seasonal Overadvance (Type B)” amount to the borrowing base, and the ABL Credit Facility was amended to, among other items, (i) provide for alternate conditions for the “Seasonal Overadvance (Type B)” amount, which will only apply during a specified period in fiscal year 2015, as further described below, (ii) condition availability of the “Seasonal Overadvance (Type A)” amount on the continued satisfaction of the applicable overadvance conditions relating thereto, as further described below, and (iii) amend the financial covenants to, among other things, change certain of the conditions governing when such financial covenants are applicable.

Pursuant to the Amendments, if the “Seasonal Overadvance (Type B)” conditions are not satisfied at any time during the period from January 26, 2015 through May 31, 2015, then the alternate “Seasonal Overadvance (Type B)” conditions shall apply instead during such period. Pursuant to the alternate “Seasonal Overadvance (Type B)” conditions, inclusion of the alternate “Seasonal Overadvance (Type B)” amount in the borrowing base shall be subject to, among other conditions, (i) the Company's demonstrating compliance with (A) a U.S. fixed charge coverage ratio for the most recently ended twelve-month test period of 0.85 to 1.00 and (B) a specified minimum consolidated adjusted EBITDA covenant for the most recently ended twelve-month period of $52.0 million, (ii) payment of a fee equal to 0.2% of the applicable seasonal overadvance amount (the “Seasonal Overadvance Fee) and (iii) other customary conditions.

In addition, the Amendments amended the ABL Credit Facility to condition availability of the “Seasonal Overadvance (Type A)” amount in the borrowing base on the continued compliance with the applicable overadvance conditions for such amount. Under the ABL Credit Facility the “Seasonal Overadvance (Type A)” amount is available to the Company from February 1 of each year through June 30 for calendar year 2015 and through May 31 of any other year (each, a “Type A Period”), subject to among other conditions (i) the Company's demonstrating compliance with a fixed charge coverage ratio covenant of 1.00 to 1.00, (ii) payment of the Seasonal Overadvance Fee (except to the extent already paid during such calendar year), (iii) other customary conditions and (iv) pursuant to the Amendment, continued compliance with the foregoing eligibility requirements with respect to any Type A Period, with the “Type A” seasonal overadvance amount being reduced to zero at any time such conditions fail to be satisfied during such Type A Period.

The Amendments also (i) provide for the suspension of the testing of the fixed charge coverage ratio financial covenant in the ABL Credit Facility that is otherwise applicable during certain financial covenant testing periods at any time when the regular “Seasonal Overadvance (Type B)” conditions or the “Seasonal Overadvance (Type C)” conditions are satisfied, and (ii) provides for the suspension of the testing of the minimum consolidated adjusted EBITDA covenant that is otherwise applicable during certain financial covenant testing periods at any time when the regular “Seasonal Overadvance (Type B)” conditions and the “Seasonal Overadvance (Type C)” conditions are not satisfied.

As of April 3, 2015, Euramax International is in compliance with the covenants under the credit agreement governing the ABL Credit Facility.

Dutch Revolving Credit Facility

In February 2012, our 100% owned subsidiary in the Netherlands, Euramax Coated Products, BV entered into the Dutch Revolving Credit Facility with Rabobank Roermond (Rabobank). The Dutch Revolving Credit Facility provides revolving credit financing of up to EUR 15 million and matures on April 1, 2016. Borrowings under the Dutch Revolving Credit Facility bear interest at a rate per annum which is the aggregate of the average one month Euribor rate over a calendar month plus a margin of 2% and requires payment of a Credit Fee of 0.35% per annum on the nominal amount of the credit facility. All obligations under the Dutch Revolver are secured by a mortgage on the real estate of Euramax Coated Products, BV, a pledge on present and future machinery and present and future accounts receivable balances of Euramax Coated Products, BV.

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The Dutch Revolving Credit Facility contains financial and non-financial covenants customary for this type of financing. Financial covenants include, but are not limited to a minimum annual EBITDA target and a minimum requirement for risk-bearing capital, for Euramax Coated Products, BV, both measured at the Company's fiscal year end. The Dutch Revolving Credit Facility also contains a clause limiting further indebtedness. As of April 3, 2015, Euramax Coated Products, BV is in compliance with the covenants under the credit agreement governing the Dutch Credit Facility.

Covenant Ratios Contained in the Indenture, the ABL Credit Facility and the Senior Unsecured Loan Facility.    

The Indenture governing the Notes and the Senior Unsecured Loan Facility contain two material covenants which utilize financial ratios. These covenants do not require Euramax International to maintain specified ratio levels at all times or at regular intervals. However, if Euramax International elected to incur additional indebtedness under the ratio test without having availability under other debt baskets, or make restricted payments under the restricted payment covenant without having availability under our restricted payment baskets, non-compliance with these covenants could result in an event of default under the Indenture and, under certain circumstances, a requirement to immediately repay all amounts outstanding under the Notes and could trigger a cross-default under our credit facilities or other indebtedness Euramax International may incur in the future. Euramax International is permitted to incur indebtedness under the Indenture and the Senior Unsecured Loan Facility if the ratio of Consolidated Cash Flow to Fixed Charges on a pro forma basis (referred to in the Indenture and the Senior Unsecured Loan Facility as the "Fixed Charge Coverage Ratio") is greater than 2:1 or, if the ratio is less, only if the indebtedness falls into specified debt baskets, including, for example, a credit agreement debt basket, an existing debt basket, a capital lease and purchase money debt basket, an intercompany debt basket, a permitted guarantee debt basket, a hedging debt basket, a receivables transaction debt basket and a general debt basket. In addition, under the Indenture and Senior Unsecured Loan Facility, Euramax International is permitted to incur secured debt only if the ratio of Consolidated Secured Indebtedness to Consolidated Cash Flow on a pro forma basis (referred to in the Indenture and the Senior Unsecured Loan Facility as the "Secured Debt Ratio") is equal to or less than 3.75:1.00. Second, the restricted payment covenant provides that Euramax International may declare certain dividends, or repurchase equity securities, in certain circumstances only if the Fixed Charge Coverage Ratio is greater than 2:1. In addition, under the ABL Credit Facility, Euramax International is required to meet either a minimum consolidated Fixed Charge Coverage Ratio or a minimum consolidated EBITDA, in each case under certain circumstances, when excess availability is less than 12.5% of the lesser of the aggregate amount of commitments outstanding at such time and the borrowing base.

The Fixed Charge Coverage Ratio and the Secured Debt Ratio under the Indenture only limit the ability of Euramax International to incur additional indebtedness and the failure of the Company to be within these ratios would not be an event of default under the Indenture or Senior Unsecured Loan Facility. Euramax has not incurred any additional indebtedness or made any restricted payments pursuant to the provisions in the Indenture and the Senior Unsecured Loan Facility that rely on such ratios.

The provisions of the ABL Credit Facility only require Euramax International to meet the Minimum Consolidated Adjusted EBITDA or Minimum Fixed Charge Coverage Ratio under the ABL Credit Facility when excess availability is less than 12.5%. As of April 3, 2015, because excess availability under the ABL Credit Facility exceeded 12.5% of the borrowing base, Euramax International was not required to meet the Minimum Consolidated Adjusted EBITDA or Minimum Consolidated Fixed Charge Coverage Ratio under the ABL Credit Facility. The Company expects that if excess availability falls below 12.5% during the next twelve months, it will meet any minimum consolidated Fixed Charge Coverage Ratio or Minimum Consolidated Adjusted EBITDA thresholds.

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Cash Flows

The following table summarizes our cash flows for the three months ended April 3, 2015 and March 28, 2014:

	Three months ended
	April 3, 2015			March 28, 2014
	(in thousands)
Net cash used in operating activities	$	(32,470	)	$	(3,886	)
Net cash used in investing activities	(2,066		)	(1,445		)
Net cash provided by financing activities	34,730			1,049
Effect of exchange rate changes on cash	(400		)	(297		)
Net decrease in cash and cash equivalents	$	(206	)	$	(4,579	)

Three months ended April 3, 2015 Compared to the Three months ended March 28, 2014.

Operating Activities. Cash used in operating activities in the first quarter of 2015 was approximately $32.5 million compared to cash used in operating activities of $3.9 million for the first quarter of 2014, a decrease in cash flow of $29.0 million. The significant increase in cash used in operations is primarily related to the timing of the Company's first quarter 2015 interim reporting period, which ended on April 3, 2015 due to the Company's 4-4-5 reporting calendar. As a result, interest payments on the Company's Notes and Senior Unsecured Loan Facility were made during the Company's first interim reporting period. In the first quarter of 2014, the Company's interim reporting period ended on March 28, 2014 and therefore interest payments were not made until the second interim reporting period in 2014. The timing of the period end dates resulted in interest payments totaling $25.9 million for the three month periods ended April 3, 2015 and $0.3 million for the three month period ended March 28, 2014, a net increase of $25.6 million. The remaining increase in cash used in operations is primarily related to increases in working capital to support higher net sales in 2015.

Investing Activities. Cash used in investing activities in the first quarter of 2015 was $2.1 million and was primarily comprised of capital expenditures.

Cash used in investing activities in the first quarter of 2014 was $1.4 million, which was primarily made up of capital expenditures of $1.5 million in the first quarter of 2014.

Financing Activities. Cash provided by financing activities during the first quarter of 2015 was $34.7 million and consisted of net borrowings on our ABL Credit Facility totaling $24.2 million and net borrowings on our European credit facilities totaling $10.5 million.

Cash provided by financing activities during the first quarter of 2014 was $1.0 million and consisted primarily of net repayments on the ABL Credit Facility of $13.8 million and debt issuance costs related to the amendment of the ABL Credit Facility of $0.1 million offset by net borrowings on our Dutch Revolving Credit Facility totaling $14.7 million.

Capital Expenditures

Our capital expenditures for the first quarter of 2015 and the first quarter of 2014 were $2.1 million and $1.5 million, respectively. Capital expenditures in each period relate primarily to purchases and upgrades of coil coating, fabricating, transportation and material moving and handling equipment.

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Seasonality; Inflation

Our sales have historically been seasonal, with the second and third quarters typically accounting for our highest sales volumes. First and fourth quarter sales volumes are generally lower primarily due to reduced repair and remodel activity and reduced activity in the building and construction industry as a result of colder and more inclement weather in our geographic end markets, as well as customer plant shutdowns in the RV and automotive industries during holidays and model changeovers.

Our cost of goods sold is subject to inflationary pressures and price fluctuations of the raw materials we use, particularly the cost of aluminum and steel. In addition, we are party to certain leases that contain escalator clauses contingent on increases based on changes in the Consumer Price Index. We believe that inflation and deflation had a minimal impact on our overall results of operations during the three months ended April 3, 2015 and March 28, 2014.

Working Capital Management

Working capital decreased$423.9 million, or 564.4%, to $(348.8) million as of April 3, 2015 from $75.1 million as of December 31, 2014. The decrease in working capital is primarily attributable to the increase in current portion of long-term debt. The outstanding borrowings on the Notes totaling $375.0 million mature on April 1, 2016. In the event the Notes are not refinanced prior to December 31, 2015, amounts outstanding under the ABL Credit Facility are due January 31, 2016. These debt facilities were classified within current liabilities in the consolidated balance sheet as of April 3, 2015. These reclassifications resulted in a $434.8 million decline in working capital. Further, we historically experience an increase in inventory and accounts receivable during the first half of the year as many customers in our markets increase purchases in the spring and gradually decline throughout the second half of the year.

Accounts receivable of $88.4 million as of April 3, 2015increased$8.1 million, or 10.1%, from $80.3 million as of December 31, 2014. The primary reason for the increase in accounts receivable was a 17.5% increase in net sales for the month ended April 3, 2015 compared to the month ended December 31, 2014. Typically the majority of outstanding receivables are generated from net sales in the preceding two months. As of April 3, 2015, days sales outstanding in accounts receivable were 44.3 days compared to 36.4 days as of December 31, 2014.

Inventories of $110.6 million as of April 3, 2015increased$4.2 million, or 3.9%, from $106.4 million as of December 31, 2014, primarily as a result of seasonal increases in demand. As of April 3, 2015, days sales in inventories were 64.0 days compared to 55.7 days as of December 31, 2014.

Accounts payable of $83.8 million as of April 3, 2015increased$5.0 million, or 6.3%, from $78.8 million as of December 31, 2014. Higher accounts payable balances reflect increasing inventory levels throughout the year to support higher demand in peak seasons.

Current portion of long-term debt increased $445.3 million as of April 3, 2015. The current portion of long-term debt consisted of $375.0 million Notes, $59.8 million outstanding borrowings on the ABL Credit Facility, $14.2 million of outstanding borrowings on the Dutch Revolving Credit Facility and $1.0 million outstandings borrowings on the French Credit Facility as of April 3, 2015 compared to $3.5 million and $1.1 million outstanding borrowings on the Dutch Revolving Credit Facility and the French Credit Facility, respectively, as of December 31, 2014.

Critical Accounting Policies

We prepare our consolidated financial statements in accordance with U.S. generally accepted accounting principles. In order to apply these principles, management must make judgments, assumptions and estimates based on the best available information at the time. Management bases these estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. For the three months ended April 3, 2015, there were no significant changes to our critical accounting policies and estimates from those disclosed in the section “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2014.

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Off-Balance Sheet Arrangements

We had no off-balance sheet arrangements as of April 3, 2015.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

We are exposed to market risk from changes in currency exchange rates (primarily the euro and British pound sterling), interest rates and commodity prices (primarily aluminum and steel). The Company has entered into forward contracts to buy or sell a quantity of currency at a predetermined price or quantity to mitigate uncertainty and volatility, and cover underlying exposure to certain payments in currencies other than the functional currency.

Foreign Currency Exchange Risk

Approximately 34.2% of our net sales for the three months ended April 3, 2015 originated in Europe. Although our sales outside the United States are subject to exchange rate fluctuations, we do not use derivatives to manage our foreign currency exchange risks resulting from foreign sales. Changes in foreign exchange rates affect other income recorded in relation to translation gains and losses on intercompany obligations denominated in a foreign currency.

Interest Rate Risk

We manage interest rate risk through the use of fixed rate debt and may in the future utilize interest rate swap contracts. We have fixed rate debt from our Notes and our Senior Unsecured Loan Facility. Our floating rate exposure is related to our ABL and Dutch Revolving Credit Facilities, which are tied to changes in the LIBOR and Euribor rates, respectively.

We had no interest rate swap contracts outstanding during the three months ended April 3, 2015 or March 28, 2014.

Commodity Price Risk

From time to time we enter into contracts for the purchase of aluminum and steel at market values in an attempt to assure a margin on specific customer orders. We may also choose to commit to purchase a specific quantity of aluminum over a specified time period at a fixed price, exposing us to the difference between the fixed price and the market price of aluminum during that time period. We do not use hedges to manage our long-term risks relating to market prices of steel and aluminum raw materials because we are generally able to pass on changes in market prices to customers.

Item 4.  Controls and Procedures

Disclosure Controls and Procedures

The Company under the supervision and with the participation of the Company’s management, including the President (its principal executive officer) and the Chief Financial Officer (its principal financial officer), evaluated the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d- 15(e) of the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this report. Based upon that evaluation, our management, including our President and our Chief Financial Officer, concluded that the Company’s disclosure controls and procedures were effective as of April 3, 2015.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting during the three months ended April 3, 2015 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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Part II. Other Information

Item 1.  Legal Proceedings

From time to time, we are party to various legal proceedings arising in the ordinary course of business. The Company is not currently a party to any legal proceeding the result of which it believes could have a material adverse impact upon its business, financial position or results of operations.

Item 1A.  Risk Factors

In addition to the other information set forth in this report, you should carefully consider the factors discussed in Part I, "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2014, which could materially affect our business, financial condition or future results. The risks described in this report and in our Annual Report on Form 10-K are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition or future results. There have been no material changes in the risk factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2014.

Item 5.  Other Information

In connection with Tyrone Johnson's appointment as President, North America effective May 23, 2015, Mr. Johnson and the Company entered into an Employment Agreement, dated May 14, 2015 (the “Employment Agreement”). The Employment Agreement provides that Mr. Johnson will be entitled to a base salary of $325,000 and the target for his annual bonus with respect to fiscal year 2015 shall be at least 35% of his base salary. Under the Employment Agreement, Mr. Johnson is also entitled to receive 500 shares of restricted stock in the Company. In the event that Mr. Johnson’s employment is terminated by the Company without cause (as defined in the Employment Agreement), or Mr. Johnson terminates his employment for good reason (as defined in the Employment Agreement), he will be entitled to receive as severance a continuation of his base salary for a period of 12 months following the termination of his employment.

Item 6.  Exhibits

EXHIBIT INDEX

Number	Exhibit Title
31.1	Rule 13a-14(a)/15d-14(a) Certification of Euramax Holdings, Inc.'s President.
31.2	Rule 13a-14(a)/15d-14(a) Certification of Euramax Holding's Inc.’s Chief Financial Officer.
32.1	Certification of the PEO and CFO pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
10.1	Executive Employment Agreement, dated May 14, 2015, by and between Euramax International, Inc. and Tyrone Johnson.
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation Linkbase
101.LAB	XBRL Taxonomy Extension Label Linkbase
101.PRE	XBRL Taxonomy Extension Presentation Linkbase
101.DEF	XBRL Taxonomy Extension Definition Linkbase

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	EURAMAX HOLDINGS, INC.
Date: May 14, 2015	/s/ Mary S. Cullin
	Mary S. Cullin
	Senior Vice President, Chief Financial Officer & Treasurer

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EX-10.1

EMPLOYMENT AGREEMENT

EMPLOYMENT AGREEMENT (this “Agreement”), dated as of May 14, 2015 (the “Effective Date”), by and between Euramax International, Inc., a Delaware corporation (the “Company”) and Tyrone Johnson (the “Executive”) (each of the Company and the Executive, a “Party,” and collectively, the “Parties”).

WHEREAS, the Company desires to employ the Executive as President, North America of the Company and wishes to acquire and be assured of the Executive’s services on the terms and conditions hereinafter set forth; and

WHEREAS, the Executive desires to be employed by the Company as President, North America and to perform and to serve the Company on the terms and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other valid consideration, the sufficiency of which is acknowledged, the Parties hereto agree as follows:

Section 1.Employment.

1.1.Term. Subject to Section 3 hereof, the Company agree to employ the Executive, and the Executive agrees to be employed by the Company, and such other members of the Company Group as the Board of Directors of Holdings (the “Board”) shall determine, in each case pursuant to this Agreement, for a period commencing on the Effective Date and ending on the second anniversary of the Effective Date (the “Initial Term”); provided, however, that the period of the Executive’s employment pursuant to this Agreement shall be automatically extended for successive one-year periods thereafter (each, a “Renewal Term”), in each case unless either Party hereto provides the other Party hereto with written notice that such period shall not be so extended at least 90 days in advance of the expiration of the Initial Term or the then-current Renewal Term, as applicable (the Initial Term and any Renewal Term, collectively, the “Term”). The Executive’s period of employment pursuant to this Agreement shall hereinafter be referred to as the “Employment Period.”

1.2.Duties. During the Employment Period, the Executive shall serve as the President, North America of the Company and in such other positions as an officer or director of such other members of the Company Group as the Board shall determine, and shall report directly to the Chief Executive Officer of the Company. In the Executive’s position as President, North America, the Executive shall perform such duties, functions and responsibilities during the Employment Period as are commensurate with such position, as reasonably and lawfully directed by the Chief Executive Officer. The Executive’s principal place of employment shall be the Company’s headquarters in Norcross, Georgia.

1.3.Exclusivity. During the Employment Period, the Executive shall devote substantially all of his business time and attention to the business and affairs of the Company Group, shall faithfully serve the Company Group, and shall conform to and comply with the lawful and reasonable directions and instructions given to the Executive by the Chief Executive Officer, consistent with Section 1.2 hereof. During the Employment Period, the Executive shall use his best

efforts to promote and serve the interests of the Company Group and shall not engage in any other business activity, whether or not such activity shall be engaged in for pecuniary profit; provided, that the Executive may (a) serve any civic, charitable, educational or professional organization, (b) serve on the board of directors of for-profit business enterprises, provided that such service is approved by the Board and (c) manage his personal investments, in each case so long as any such activities do not (X) violate the terms of this Agreement (including Section 4) or (Y) interfere with the Executive’s duties and responsibilities to the Company Group.

Section 2.Compensation.

2.1.Salary. As compensation for the performance of the Executive’s services hereunder, during the Employment Period, the Company shall pay to the Executive a salary at an annual rate of $325,000, payable in accordance with the Company’s standard payroll policies (the “Base Salary”). The Base Salary will be reviewed annually and may be adjusted upward (but not downward) by the Board (or a committee thereof) in its discretion.

2.2.Annual Bonus. For each calendar year ending during the Employment Period, the Executive shall be eligible to receive an annual bonus (the “Annual Bonus”) pursuant to the Euramax Incentive Compensation Plan or such other bonus plan approved by the Board, in each case in accordance with the terms of such plan. The Executive’s target Annual Bonus opportunity for each calendar year that ends during the Employment Period shall equal 35% of the Base Salary.

2.3.Equity.     Executive shall be granted no fewer than 500 shares of restricted stock in the Company in accordance with the Company’s Equity Plan (as defined in the Company’s 10-K for the fiscal year ended December 31, 2013) on terms no less favorable than those provided to other senior executives of the Company.

2.4.Employee Benefits. During the Employment Period, the Executive shall be eligible to participate in such health and other group insurance and other employee benefit plans and programs of the Company as in effect from time to time on the same basis as other senior executives of the Company.

2.5.Paid Time Off. During the Employment Period, the Executive shall be entitled to 27 days of paid time off per calendar year, to be taken and carried over in accordance with the Company’s paid time off policy in effect from time to time.

2.6.Business Expenses. The Company shall pay or reimburse the Executive, upon presentation of documentation, for all commercially reasonable business out-of-pocket expenses that the Executive incurs during the Employment Period in performing his duties under this Agreement in accordance with the expense reimbursement policy of the Company as approved by the Board (or a committee thereof), as in effect from time to time.

Section 3.Employment Termination.

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3.1.Termination of Employment. The Company may terminate the Executive’s employment hereunder for any reason during the Term, and the Executive may voluntarily terminate his employment hereunder for any reason during the Term, in each case (other than a termination by the Company for Cause) at any time upon not less than 30 days’ notice to the other Party (the date on which the Executive’s employment terminates for any reason is herein referred to as the “Termination Date”). Upon the termination of the Executive’s employment with the Company for any reason, the Executive shall be entitled to (a) payment of any Base Salary earned but unpaid through the date of termination, (b) unused paid time off (consistent with Section 2.4 hereof) paid out at the per-business-day Base Salary rate, (d) additional vested benefits (if any) in accordance with the applicable terms of applicable Company arrangements and (e) any unreimbursed expenses in accordance with Section 2.5 hereof (collectively, the “Accrued Amounts”).

3.2.Termination by the Company other than for Cause, Death or Disability; Termination by the Executive for Good Reason. If the Executive’s employment is terminated (X) by the Company other than for Cause, death or Disability or (Y) by the Executive for Good Reason, in addition to the Accrued Amounts, the Executive shall be entitled to: (i) continuation of the Base Salary at the rate in effect immediately prior to the Termination Date for 12 months following the Termination Date (the “Base Salary Continuation”) and (ii) to the extent permitted pursuant to the applicable plans, continuation on the same terms as an active employee (including, where applicable, coverage for the Executive and his dependents) of medical insurance benefits that the Executive would otherwise be eligible to receive as an active employee of the Company for 12 months following the Termination Date or, if earlier, until the Executive becomes eligible for medical benefits from a subsequent employer (the “Medical Benefit Continuation”).

The Company’s obligations to pay the Base Salary Continuation and to provide Medical Benefit Continuation shall be conditioned upon the Executive’s continued compliance with his obligations under Section 4 of this Agreement. Notwithstanding any provision to the contrary herein, and without limitation of any remedies to which the Company may be entitled, the Base Salary Continuation shall be paid in equal installments commencing during the 45-day period following the Termination Date; provided, that, the Executive has signed and delivered to the Company the release of claims substantially in the form attached hereto as Exhibit A (the “Release”) and the period (if any) during which the Release can be revoked has expired within such 45-day period; provided, further, that, if such 45-day period spans two calendar years, payment of the Severance Amount shall commence to be paid in the second year.

3.3.Exclusive Remedy. The foregoing payments upon termination of the Executive’s employment shall constitute the exclusive severance payments and benefits due the Executive upon a termination of his employment.

3.4.Resignation from All Positions. Upon the termination of the Executive’s employment with the Company Group for any reason, the Executive shall resign, as of the Termination Date, from all positions he or she then holds as an officer, director, employee and member of the boards of directors (and any committee thereof) of the Company Group. The Executive shall be required to execute such writings as are required to effectuate the foregoing.

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3.5.Cooperation. Following the termination of the Executive’s employment with the Company for any reason, the Executive shall reasonably cooperate with the Company upon reasonable request of the Board and be reasonably available to the Company (taking into account any other full-time employment of the Executive) with respect to matters arising out of the Executive’s services to the Company Group.

Section 4. Unauthorized Disclosure; Non-Competition; Non-Solicitation; Interference with Business Relationships; Proprietary Rights.

4.1.Unauthorized Disclosure. The Executive agrees and understands that in the Executive’s position with the Company and any other member of the Company Group, the Executive has been and will be exposed to and has and will receive information relating to the confidential affairs of the Company Group, including, without limitation, technical information, intellectual property, business and marketing plans, strategies, customer information, software, other information concerning the products, promotions, development, financing, expansion plans, business policies and practices of the Company Group and other forms of information considered by the Company Group to be confidential or in the nature of trade secrets (including, without limitation, ideas, research and development, know-how, formulas, technical data, designs, drawings, specifications, customer and supplier lists, pricing and cost information and business and marketing plans and proposals) (collectively, the “Confidential Information”). Confidential Information shall not include information that is generally known to the public or within the relevant trade or industry other than due to the Executive’s violation of this Section 4.1 or disclosure by a third party who is known by the Executive to owe any member of the Company Group an obligation of confidentiality with respect to such information. The Executive agrees that at all times during the Executive’s employment with the Company Group and thereafter, the Executive shall not disclose such Confidential Information, either directly or indirectly, to any individual, corporation, partnership, limited liability company, association, trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof (each a “Person”) without the prior written consent of the Company Group and shall not use or attempt to use any such information in any manner other than in connection with his employment with the Company Group, unless required by law to disclose such information, in which case the Executive shall provide the Company Group with written notice of such requirement as far in advance of such anticipated disclosure as possible. This confidentiality covenant has no temporal, geographical or territorial restriction. Upon termination of the Executive’s employment with the Company Group, the Executive shall promptly supply to the Company all property, keys, notes, memoranda, writings, lists, files, reports, customer lists, correspondence, tapes, disks, cards, surveys, maps, logs, machines, technical data and any other tangible product or document which has been produced by, received by or otherwise submitted to the Executive during or prior to the Executive’s employment with the Company Group, and any copies thereof in his (or capable of being reduced to his) possession.

4.2.Non-Competition. By and in consideration of the Company entering into this Agreement, and in further consideration of the Executive’s exposure to the Confidential Information, the Executive agrees that the Executive shall not, during the Employment Period and for a period of 12 months after the Executive’s termination of employment for any reason (the “Restriction Period”), directly or indirectly, own, manage, operate, join, control, be employed by,

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or participate in the ownership, management, operation or control of, or be connected in any manner with, including, without limitation, holding any position as a stockholder, director, officer, consultant, independent contractor, employee, partner, or investor in, any Restricted Enterprise (as defined below); provided, that, in no event shall (X) ownership by the Executive of two percent or less of the outstanding securities of any class of any issuer whose securities are registered under the Securities Exchange Act of 1934, as amended, standing alone, be prohibited by this Section 4.2, so long as the Executive does not have, or exercise, any rights to manage or operate the business of such issuer other than rights as a shareholder thereof or (Y) being employed by an entity, standing alone, be prohibited by this Section 4.2, so long as the entity has more than one discrete and readily distinguishable part of its business and the Executive’s duties are not at or involving the part of the entity’s business that is actively engaged in a Restricted Enterprise. For purposes of this paragraph, “Restricted Enterprise” shall mean any Person that is engaged, directly or indirectly, in (or intends or proposes to engage in, or has been organized for the purpose of engaging in) a business which is in competition with a business of any member of the Company Group in any country or territory in which such member of the Company Group markets any of its services or products or has plans to begin marketing any of its services or products.

4.3.Non-Solicitation of Employees. During the Restriction Period, the Executive shall not directly or indirectly hire, contact, induce or solicit (or assist any Person to hire, contact, induce or solicit) for employment any person who is, or within 12 months prior to the date of such hiring, contacting, inducing or solicitation was, an employee of any member of the Company Group.

4.4.Interference with Business Relationships. During the Restriction Period (other than in connection with carrying out his responsibilities for the Company Group), the Executive shall not directly or indirectly induce or solicit (or assist any Person to induce or solicit) any customer or client of any member of the Company Group to terminate its relationship or otherwise cease doing business in whole or in part with any member of the Company Group, or directly or indirectly interfere with (or assist any Person to interfere with) any material relationship between the Company Group and any of its or their customers or clients so as to cause harm to any member of the Company Group.

4.5.Extension of Restriction Period. The Restriction Period shall be tolled for any period during which the Executive is in breach of any of Sections 4.2, 4.3 or 4.4 hereof.

4.6.Proprietary Rights. The Executive shall disclose promptly to the Company any and all inventions, discoveries, and improvements (whether or not patentable or registrable under copyright or similar statutes), and all patentable or copyrightable works, initiated, conceived, discovered, reduced to practice, or made by him or her, either alone or in conjunction with others, during the Executive’s employment with any member of the Company Group and related to the business or activities of any member of the Company Group (the “Developments”). Except to the extent any rights in any Developments constitute a work made for hire under the U.S. Copyright Act, 17 U.S.C. § 101 et seq. that are owned ab initio by the Company and/or its applicable affiliate, the Executive assigns and agrees to assign all of his right, title and interest in all Developments (including all intellectual property rights therein) to the Company or its nominee

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without further compensation, including all rights or benefits therefor, including without limitation the right to sue and recover for past and future infringement. The Executive acknowledges that any rights in any Developments constituting a work made for hire under the U.S. Copyright Act, 17 U.S.C § 101 et seq. are owned upon creation by the Company and/or the applicable member of the Company Group. Whenever requested to do so by the Company, the Executive shall execute any and all applications, assignments or other instruments which the Company shall deem necessary to apply for and obtain trademarks, patents or copyrights of the United States or any foreign country or otherwise protect the interests of the Company Group. These obligations shall continue beyond the end of the Executive’s employment with the Company Group with respect to inventions, discoveries, improvements or copyrightable works initiated, conceived or made by the Executive while employed by any member of the Company Group, and shall be binding upon the Executive’s employers, assigns, executors, administrators and other legal representatives. If the Company is unable for any reason, after reasonable effort, to obtain the Executive’s signature on any document needed in connection with the actions described in this Section 4.6, the Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as the Executive’s agent and attorney in fact to act for and on the Executive’s behalf to execute, verify and file any such documents and to do all other lawfully permitted acts to further the purposes of this Section 4.6 with the same legal force and effect as if executed by the Executive.

4.7.Confidentiality of Agreement. Other than with respect to information required to be disclosed by applicable law, the Parties hereto agree not to disclose the terms of this Agreement to any Person; provided the Executive may disclose this Agreement and/or any of its terms to the Executive’s immediate family, financial advisors and attorneys, so long as the Executive instructs every such Person to whom the Executive makes such disclosure not to disclose the terms of this Agreement further. Anytime after this Agreement is filed with the SEC or any other government agency by any member of the Company Group and becomes a public record, this provision shall no longer apply.

4.8.Remedies. The Executive agrees that any breach of the terms of this Section 4 would result in irreparable injury and damage to the Company Group for which the Company Group would have no adequate remedy at law; the Executive therefore also agrees that in the event of said breach or any threat of breach, the Company Group shall be entitled to an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any and all Persons acting for and/or with the Executive, without having to prove damages, in addition to any other remedies to which the Company Group may be entitled at law or in equity, including, without limitation, the obligation of the Executive to return any portion of the Base Salary Continuation paid by the Company to the Executive. The terms of this paragraph shall not prevent the Company Group from pursuing any other available remedies for any breach or threatened breach hereof, including, without limitation, the recovery of damages from the Executive. The Parties further agree that the provisions of the covenants contained in this Section 4 are reasonable and necessary to protect the businesses of the Company Group because of the Executive’s access to Confidential Information or his material participation in the operation of such businesses. In the event that the Executive willfully and materially breaches any of the covenants set forth in this Section 4, then in addition to any injunctive relief, the Executive

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will promptly return to the Company Group any portion of the Base Salary Continuation that the Company has paid to the Executive.

Section 5.Certain Definitions. For purposes of this Agreement, the following terms shall have the following meanings:

5.1.“Cause” shall mean the Executive’s having engaged in any of the following: (A) willful misconduct or gross negligence in the performance of any of his duties to the Company Group, which, if capable of being cured, is not cured to the reasonable satisfaction of the Board within 30 days after the Executive receives from the Board written notice of such willful misconduct or gross negligence; (B) intentional failure or refusal to perform reasonably assigned duties by the Board, which is not cured to the reasonable satisfaction of the Board within 30 days after the Executive receives from the Board written notice of such failure or refusal; (C) any indictment for, conviction of, or plea of guilty or nolo contendere to, (1) any felony (other than motor vehicle offenses the effect of which do not materially affect the performance of the Executive’s duties) or (2) any crime (whether or not a felony) involving fraud, theft, breach of trust or similar acts, whether of the United States or any state thereof or any similar foreign law to which the Executive may be subject; or (D) any willful failure to comply with any written rules, regulations, policies or procedures of the Company which, if not complied with, would reasonably be expected to have a material adverse effect on the business or financial condition of the Company Group, which in the case of a failure that is capable of being cured, is not cured to the reasonable satisfaction of the Board within 30 days after the Executive receives from the Company Group written notice of such failure. If the Company terminates the Executive’s employment for Cause, the Company shall provide written notice to the Executive of that fact on or before the termination of employment.

5.2.“Code” shall mean the Internal Revenue Code of 1986, as amended.

5.3.“Company Group” shall mean, collectively, Holdings, the Company and their respective subsidiaries, successors and assigns.

5.4.“Disability” shall mean the Executive is entitled to and has begun to receive long-term disability benefits under the long-term disability plan of the Company in which Executive participates, or, if there is no such plan, the Executive’s inability, due to physical or mental illness, to perform the essential functions of the Executive’s job, with or without a reasonable accommodation, for 180 days out of any 270 day consecutive day period.

5.5.“Good Reason” shall mean one of the following has occurred: (A) a material breach by the Company of any of the covenants in this Agreement; (B) any material reduction in the Executive’s Base Salary or bonus opportunity, other than reductions that apply to senior executives of the Company generally; (C) the relocation of the Executive’s principal place of employment that would increase the Executive’s one-way commute by more than 50 miles or (D) any material and adverse change in the Executive’s position, title or status or any change in the Executive’s job duties, authority or responsibilities to those of lesser status. A termination of employment by the Executive for Good Reason shall be effectuated by giving the Company written notice of the termination, setting forth the conduct of the Company that constitutes Good Reason, within 90 days of the first date on which the Executive has knowledge of such conduct. The Executive

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shall further provide the Company at least 30 days following the date on which such notice is provided to cure such conduct. Failing such cure, a termination of employment by the Executive for Good Reason shall be effective on the day following the expiration of such cure period.

5.6.“Holdings” shall mean Euramax Holdings, Inc., a Delaware corporation.

Section 6.Representations. The Executive represents and warrants that the Executive is not subject to any contract, arrangement, policy or understanding, or to any statute, governmental rule or regulation, that in any way limits his ability to enter into and fully perform her obligations under this Agreement.

Section 7.Non-Disparagement. From and after the Effective Date and following termination of the Executive’s employment with the Company and any other member of the Company Group, the Executive agrees not to make any statement that is intended to become public, or that should reasonably be expected to become public, and that criticizes, ridicules, disparages or is otherwise derogatory of the Company, any of its subsidiaries, affiliates, employees, officers, directors or stockholders.

Section 8.Taxes.

8.1.Withholding. All amounts paid to the Executive under this Agreement during or following the Employment Period shall be subject to withholding and other employment taxes imposed by applicable law. The Executive shall be solely responsible for the payment of all taxes imposed on the Executive relating to the payment or provision of any amounts or benefits hereunder.

8.2.Section 280G.    

(a)Notwithstanding anything contained in this Agreement to the contrary, (i) to the extent that any payment or distribution of any type to or for the Executive by the Company, any affiliate of the Company, any Person who acquires ownership or effective control of the Company or ownership of a substantial portion of the Company’s assets (within the meaning of Section 280G of the Code, or any affiliate of such Person, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the “Payments”) constitute “parachute payments” (within the meaning of Section 280G of the Code), and if (ii) such aggregate would, if reduced by all federal, state and local taxes applicable thereto, including the excise tax imposed under Section 4999 of the Code (the “Excise Tax”), be less than the amount the Executive would receive, after all taxes, if the Executive received aggregate Payments equal (as valued under Section 280G of the Code) to only three times the Executive’s “base amount” (within the meaning of Section 280G of the Code), less $1.00, then (iii) such Payments shall be reduced (but not below zero) if and to the extent necessary so that no Payments to be made or benefit to be provided to the Executive shall be subject to the Excise Tax. If the Payments are so reduced, the Company shall reduce or eliminate the Payments (A) by first reducing or eliminating the portion of the Payments which are not payable in cash (other than that portion of the Payments subject to clause (C) hereof), (B) then by reducing or eliminating cash payments (other than that portion of the Payments subject

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to clause (C) hereof) and (C) then by reducing or eliminating the portion of the Payments (whether payable in cash or not payable in cash) to which Treasury Regulation Section 1.280G-1 Q/A 24(c) (or successor thereto) applies, in each case in reverse order beginning with payments or benefits which are to be paid the farthest in time.

(b)It is possible that after the determinations and selections made pursuant to this Section 8.2 the Executive will receive 280G Benefits that are, in the aggregate, either more or less than the amount provided under this Section 8.2 (hereafter referred to as an “Excess Payment” or “Underpayment,” respectively). If it is established, pursuant to a final determination of a court or an Internal Revenue Service proceeding that has been finally and conclusively resolved, that an Excess Payment has been made, then the Executive shall promptly pay an amount equal to the Excess Payment to the Company, together with interest on such amount at the applicable federal rate (as defined in and under Section 1274(d) of the Code) from the date of the Executive’s receipt of such Excess Payment until the date of such payment. In the event that it is determined (i) by a court or (ii) by the auditor upon request by a Party, that an Underpayment has occurred, the Company shall promptly pay an amount equal to the Underpayment to the Executive, together with interest on such amount at the applicable federal rate from the date such amount would have been paid to the Executive had the provisions of this Section 8.2 not been applied until the date of such payment.

8.3.Section 409A.

(a)The Parties intend that any compensation, benefits and other amounts payable or provided to Executive under this Employment Agreement be paid or provided in compliance with Section 409A of the Code and all regulations, guidance, and other interpretative authority issued thereunder (collectively, “Section 409A”) such that there will be no adverse tax consequences, interest, or penalties for the Executive under Section 409A as a result of the payments and benefits so paid or provided to him. The Parties agree to modify this Agreement, or the timing of the payment hereunder of severance or other compensation, or both, to the extent necessary to comply with and to the extent permissible under Section 409A.

(b)The terms “terminate,” “terminated” and “termination” mean a termination of the Executive’s employment that constitutes a “separation from service” within the meaning of the default rules under Section 409A and the date of the Executive’s “separation from service,” shall be treated as the Executive’s Termination Date for purpose of determining the time of payment of any amount that becomes payable to Executive pursuant to Section 3 hereof upon the termination of his employment and that is treated as a “deferral of compensation” within the meaning of Section 409A.

(c)In the case of any amounts that are payable to the Executive under this Agreement in the form of installment payments, the Executive’s right to receive such payments shall be treated as a right to receive a series of separate payments for purposes of Section 409A.

(d)If the Executive is a “specified employee” within the meaning of Section 409A at the time of his “separation from service” within the meaning of Section 409A,

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then any payment otherwise required to be made to him under this Agreement on account of the Executive’s separation from service, to the extent such payment (after taking in to account all exclusions applicable to such payment under Section 409A) is properly treated as deferred compensation subject to Section 409A, shall not be made until the first business day after (i) the expiration of six months from the date of Executive’s separation from service, or (ii) if earlier, the date of Executive’s death (the “Delayed Payment Date”). On the Delayed Payment Date, there shall be paid to the Executive or, if the Executive has died, to the Executive’s estate, in a single cash lump sum, an amount equal to aggregate amount of the payments delayed pursuant to the preceding sentence.

Section 9.Miscellaneous.

9.1.Indemnification. To the extent provided in the By-Laws and Certificate of Incorporation of the Company, the Company shall indemnify the Executive for losses or damages incurred by the Executive as a result of all causes of action arising from the Executive’s performance of duties for the benefit of the Company, whether or not the claim is asserted during the Employment Period. This indemnity shall not apply to the Executive’s acts of willful misconduct or gross negligence. The Executive shall be covered under any directors’ and officers’ insurance that Holdings or the Company maintains for its directors and other officers in the same manner and on the same basis as the directors and other officers of the Company.

9.2.Amendments and Waivers. This Agreement and any of the provisions hereof may be amended, waived (either generally or in a particular instance and either retroactively or prospectively), modified or supplemented, in whole or in part, only by written agreement signed by the Parties hereto; provided, that, the observance of any provision of this Agreement may be waived in writing by the Party that will lose the benefit of such provision as a result of such waiver. The waiver by any Party hereto of a breach of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or as a waiver of any other or subsequent breach, except as otherwise explicitly provided for in such waiver. Except as otherwise expressly provided herein, no failure on the part of any Party to exercise, and no delay in exercising, any right, power or remedy hereunder, or otherwise available in respect hereof at law or in equity, shall operate as a waiver thereof, nor shall any single or partial exercise of such right, power or remedy by such Party preclude any other or further exercise thereof or the exercise of any other right, power or remedy.

9.3.Assignment; No Third-Party Beneficiaries. This Agreement, and the Executive’s rights and obligations hereunder, may not be assigned by the Executive, and any purported assignment by the Executive in violation hereof shall be null and void. Nothing in this Agreement shall confer upon any Person not a party to this Agreement, or the legal representatives of such Person, any rights or remedies of any nature or kind whatsoever under or by reason of this Agreement, except that (i) each member of the Company Group shall be a third-party beneficiary with respect to this Agreement, including, without limitation, Section 4, and (ii) the personal representative of the deceased Executive may enforce the provisions hereof applicable in the event of the death of the Executive. The Company is authorized to assign this Agreement to a successor to substantially all of its assets.

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9.4.Notices. Unless otherwise provided herein, all notices, requests, demands, claims and other communications provided for under the terms of this Agreement shall be in writing. Any notice, request, demand, claim or other communication hereunder shall be sent by (i) personal delivery (including receipted courier service) or overnight delivery service, with confirmation of receipt, (ii) facsimile during normal business hours, with confirmation of receipt, to the number indicated, (iii) reputable commercial overnight delivery service courier, with confirmation of receiptor, or (iv) registered or certified mail, return receipt requested, postage prepaid and addressed to the intended recipient as set forth below:

If to the Company:     

Euramax International, Inc.

300 Research Drive

Suite 400

Norcross, Georgia 30092

ATTN: Corporate Secretary

with a copy to:        

Fried, Frank, Harris, Shriver & Jacobson LLP

One New York Plaza

New York, NY 10004

Attention: Donald P. Carleen, Esq.

Facsimile: 212-859-4000

If to the Executive: At his principal office at the Company (during the Employment Period), and at all times to his principal residence as reflected in the records of the Company.

All such notices, requests, consents and other communications shall be deemed to have been given when received. Either Party may change its facsimile number or its address to which notices, requests, demands, claims and other communications hereunder are to be delivered by giving the other parties hereto notice in the manner then set forth.

9.5.Governing Law. This Agreement shall be construed and enforced in accordance with, and the rights and obligations of the Parties shall be governed by, the laws of the State of Delaware, without giving effect to the conflicts of law principles thereof.

9.6.Severability. Whenever possible, each provision or portion of any provision of this Agreement, including those contained in Section 4 hereof, will be interpreted in such manner as to be effective and valid under applicable law but the invalidity or unenforceability of any provision or portion of any provision of this Agreement in any jurisdiction shall not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability of this Agreement, including that provision or portion of any provision, in any other jurisdiction. In addition, should a court or arbitrator determine that any provision or portion

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of any provision of this Agreement, including those contained in Section 4 hereof, is not reasonable or valid, either in period of time, geographical area, or otherwise, the Parties hereto agree that such provision should be interpreted and enforced to the maximum extent which such court or arbitrator deems reasonable or valid.

9.7.Entire Agreement. From and after the Effective Date, this Agreement constitutes the entire agreement between the Parties hereto, and supersedes all prior representations, agreements and understandings (including any prior course of dealings), both written and oral, between the Parties with respect to the subject matter hereof.

9.8.Counterparts. This Agreement may be executed by .pdf or facsimile signatures in any number of counterparts, each of which shall be deemed an original, but all such counterparts shall together constitute one and the same instrument.

9.9.Binding Effect. This Agreement shall inure to the benefit of, and be binding on, the successors and assigns of each of the Parties, including, without limitation, the Executive’s heirs and the personal representatives of the Executive’s estate and any successor to all or substantially all of the business and/or assets of Holdings or the Company.

9.10.General Interpretive Principles. The name assigned this Agreement and headings of the sections, paragraphs, subparagraphs, clauses and subclauses of this Agreement are for convenience of reference only and shall not in any way affect the meaning or interpretation of any of the provisions hereof. Words of inclusion shall not be construed as terms of limitation herein, so that references to “include,” “includes” and “including” shall not be limiting and shall be regarded as references to non-exclusive and non-characterizing illustrations. Any reference to a Section of the Code shall be deemed to include any successor to such Section.

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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

COMPANY

By: /s/ John F. Blount

   Name: John F. Blount

   Title: Senior Vice President, Chief Administrative Officer, General Counsel & Corporate Secretary

EXECUTIVE

  /s/ Tyrone Johnson

Tyrone Johnson

Exhibit A

Release

1.In consideration of the payments and benefits to be made under the Employment Agreement, dated as of [_______], 20[__] (the “Employment Agreement”), by and between [________] (the “Executive”) and [_____________] (the “Company”) (each of the Executive and the Company, a “Party” and collectively, the “Parties”), the sufficiency of which the Executive acknowledges, the Executive, with the intention of binding himself or herself and his heirs, executors, administrators and assigns, does hereby release, remise, acquit and forever discharge the Company and each of its subsidiaries and affiliates (the “Company Affiliated Group”), their present and former officers, directors, executives, shareholders, agents, attorneys, employees and employee benefit plans (and the fiduciaries thereof), and the successors, predecessors and assigns of each of the foregoing (collectively, the “Company Released Parties”), of and from any and all claims, actions, causes of action, complaints, charges, demands, rights, damages, debts, sums of money, accounts, financial obligations, suits, expenses, attorneys’ fees and liabilities of whatever kind or nature in law, equity or otherwise, whether accrued, absolute, contingent, unliquidated or otherwise and whether now known or unknown, suspected or unsuspected, which the Executive, individually or as a member of a class, now has, owns or holds, or has at any time heretofore had, owned or held, arising on or prior to the date hereof, against any Company Released Party that arises out of, or relates to, the Employment Agreement, the Executive’s employment with the Company or any of its subsidiaries and affiliates, or any termination of such employment, including claims (i) for severance or vacation benefits, unpaid wages, salary or incentive payments, (ii) for breach of contract, wrongful discharge, impairment of economic opportunity, defamation, intentional infliction of emotional harm or other tort, (iii) for any violation of applicable state and local labor and employment laws (including, without limitation, all laws concerning unlawful and unfair labor and employment practices)and (iv) for employment discrimination under any applicable federal, state or local statute, provision, order or regulation, and including, without limitation, any claim under Title VII of the Civil Rights Act of 1964 (“Title VII”), the Civil Rights Act of 1988, the Fair Labor Standards Act, the Americans with Disabilities Act (“ADA”), the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Age Discrimination in Employment Act (“ADEA”), and any similar or analogous state statute, excepting only:

A. rights of the Executive arising under, or preserved by, this Release or Section 3 of the Employment Agreement;

B. the right of the Executive to receive COBRA continuation coverage in accordance with applicable law;

C. claims for benefits under any health, disability, retirement, life insurance or other, similar employee benefit plan (within the meaning of Section 3(3) of ERISA) of the Company Affiliated Group;

D. rights to indemnification the Executive has or may have under the by-laws or certificate of incorporation of any member of the Company Affiliated Group or as

an insured under any director’s and officer’s liability insurance policy now or previously in force; and

2.The Executive acknowledges and agrees that this Release is not to be construed in any way as an admission of any liability whatsoever by any Company Released Party, any such liability being expressly denied.

3.This Release applies to any relief no matter how called, including, without limitation, wages, back pay, front pay, compensatory damages, liquidated damages, punitive damages, damages for pain or suffering, costs, and attorneys’ fees and expenses.

4.The Executive specifically acknowledges that his acceptance of the terms of this Release is, among other things, a specific waiver of her rights, claims and causes of action under Title VII, ADEA, ADA and any state or local law or regulation in respect of discrimination of any kind; provided, however, that nothing herein shall be deemed, nor does anything contained herein purport, to be a waiver of any right or claim or cause of action which by law the Executive is not permitted to waive.

5.As to rights, claims and causes of action arising under ADEA, the Executive acknowledges that    he or she has been given but not utilized a period of twenty-one (21) days to consider whether to execute this Release. If the Executive accepts the terms hereof and executes this Release, he or she may thereafter, for a period of seven (7) days following (and not including) the date of execution, revoke this Release as it relates to the release of claims arising under ADEA. If no such revocation occurs, this Release shall become irrevocable in its entirety, and binding and enforceable against the Executive, on the day next following the day on which the foregoing seven-day period has elapsed. If such a revocation occurs, the Executive shall irrevocably forfeit any right to payment of the Base Salary Continuation or provision of the Medical Benefit Continuation (as each is defined in the Employment Agreement), but the remainder of the Employment Agreement shall continue in full force.

6.Other than as to rights, claims and causes of action arising under ADEA, this Release shall be immediately effective upon execution by the Executive.

7.The Executive acknowledges and agrees that he or she has not, with respect to any transaction or state of facts existing prior to the date hereof, filed any complaints, charges or lawsuits against any Company Released Party with any governmental agency, court or tribunal.

8.The Executive acknowledges that he or she has been advised to seek, and has had the opportunity to seek, the advice and assistance of an attorney with regard to this Release, and has been given a sufficient period within which to consider this Release.

9.The Executive acknowledges that this Release relates only to claims that exist as of the date of this Release.

10.The Executive acknowledges that the severance payments and benefits he or she is receiving in connection with this Release and his obligations under this Release are in addition to anything of value to which the Executive is entitled from the Company.

11.Each provision hereof is severable from this Release, and if one or more provisions hereof are declared invalid, the remaining provisions shall nevertheless remain in full force and effect. If any provision of this Release is so broad, in scope, or duration or otherwise, as to be unenforceable, such provision shall be interpreted to be only so broad as is enforceable.

12.This Release constitutes the complete agreement of the Parties in respect of the subject matter hereof and shall supersede all prior agreements between the Parties in respect of the subject matter hereof except to the extent set forth herein.

13.The failure to enforce at any time any of the provisions of this Release or to require at any time performance by another party of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or to affect the validity of this Release, or any part hereof, or the right of any party thereafter to enforce each and every such provision in accordance with the terms of this Release.

14.This Release may be executed in several counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument. Signatures delivered by facsimile shall be deemed effective for all purposes.

15.This Release shall be binding upon any and all successors and assigns of the Executive and the Company.

16.Except for issues or matters as to which federal law is applicable, this Release shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without giving effect to the conflicts of law principles thereof.

[signature page follows]

IN WITNESS WHEREOF, this Release has been signed by or on behalf of each of the Parties, all as of ____________________.

By:

   Name:

   Title:

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Hugh E. Sawyer, President, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the period ended April 3, 2015 of Euramax Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; and

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the board of directors:

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	May 14, 2015	/s/ Hugh E. Sawyer
		Hugh E. Sawyer
		President (Principal Executive Officer)

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Mary S. Cullin, Senior Vice President, Chief Financial Officer & Treasurer, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the period ended April 3, 2015 of Euramax Holdings, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; and

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the board of directors:

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 14, 2015	/s/ Mary S. Cullin
	Mary S. Cullin
	Senior Vice President, Chief Financial Officer & Treasurer

EX-32.1

Exhibit 32.1

CERTIFICATION OF CEO AND CFO

PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the quarterly report of Euramax Holdings, Inc., (the “Company”), on Form 10-Q for the period ended April 3, 2015, (the “Report”), I, Hugh E. Sawyer, President, and I, Mary S. Cullin, Senior Vice President, Chief Financial Officer & Treasurer, certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

1. the Report fully complies, in all material respects, with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: May 14, 2015	/s/ Hugh E. Sawyer
	Hugh E. Sawyer
	President (Principal Executive Officer)

Date: May 14, 2015	/s/ Mary S. Cullin
	Mary S. Cullin
	Senior Vice President, Chief Financial Officer & Treasurer

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Income Taxes (Details)	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Income Tax Disclosure [Abstract]
Effective income tax rate, continuing operations	(3.90%)	3.70%

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Supplemental Guarantor Condensed Financial Information - Consolidated Statements of Comprehensive (Loss) Income (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Condensed Financial Statements, Captions [Line Items]
Net loss	$ (31,411)	$ (19,272)
Other comprehensive (loss) income:
Foreign currency translation adjustment	221	(389)
Defined benefit pension plan adjustments, net of tax	(122)	(20)
Total comprehensive loss	(31,068)	(19,641)
Parent
Condensed Financial Statements, Captions [Line Items]
Net loss	(31,411)	(19,272)
Other comprehensive (loss) income:
Foreign currency translation adjustment	221	(389)
Defined benefit pension plan adjustments, net of tax	(122)	(20)
Total comprehensive loss	(31,068)	(19,641)
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net loss	(31,182)	(19,154)
Other comprehensive (loss) income:
Foreign currency translation adjustment	221	(389)
Defined benefit pension plan adjustments, net of tax	(122)	(20)
Total comprehensive loss	(30,839)	(19,523)
Non-Guarantor
Condensed Financial Statements, Captions [Line Items]
Net loss	1,099	(1,692)
Other comprehensive (loss) income:
Foreign currency translation adjustment	221	(389)
Defined benefit pension plan adjustments, net of tax	(44)	(18)
Total comprehensive loss	1,364	(2,063)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net loss	30,083	20,846
Other comprehensive (loss) income:
Foreign currency translation adjustment	(442)	778
Defined benefit pension plan adjustments, net of tax	166	38
Total comprehensive loss	$ 29,475	$ 21,586

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Supplemental Guarantor Condensed Financial Information - Consolidated Balance Sheets (Details) (USD $) In Thousands, unless otherwise specified	Apr. 03, 2015	Dec. 31, 2014	Mar. 28, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Subsidiary ownership percentage	100.00%
ASSETS
Cash and cash equivalents	$ 1,868	$ 2,074	$ 4,398	$ 8,977
Accounts receivable, less allowance for doubtful accounts	88,357	80,329
Inventories, net	110,648	106,385
Income taxes receivable	1,897	1,734
Deferred income taxes	424	426
Other current assets	7,750	7,009
Total current assets	210,944	197,957
Property, plant and equipment, net	104,037	111,164
Amounts due from affiliates	0	0
Goodwill	180,659	190,158
Customer relationships, net	22,754	26,315
Other intangible assets, net	6,365	6,495
Investments in consolidated subsidiaries	0	0
Deferred income taxes	179	0
Other assets	3,924	4,687
Total assets	528,862	536,776
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	83,772	78,846
Accrued expenses and other current liabilities	25,065	25,509
Accrued interest payable	85	12,912
Current portion of long-term debt	450,012	4,663
Deferred income taxes	811	895
Total current liabilities	559,745	122,825
Long-term debt	124,408	534,852
Amounts due to affiliates	0	0
Deferred income taxes	14,073	15,894
Other liabilities	34,711	36,311
Total liabilities	732,937	709,882
Shareholders’ (deficit) equity:
Common stock	196	196
Additional paid-in capital	724,661	724,562
Accumulated loss	(934,440)	(903,029)
Accumulated other comprehensive income	5,508	5,165
Total shareholders’ (deficit) equity	(204,075)	(173,106)
Total liabilities and shareholders’ (deficit) equity	528,862	536,776
Parent
ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Inventories, net	0	0
Income taxes receivable	0	0
Deferred income taxes	0	0
Other current assets	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Amounts due from affiliates	0	0
Goodwill	0	0
Customer relationships, net	0	0
Other intangible assets, net	0	0
Investments in consolidated subsidiaries	(198,078)	(167,335)
Deferred income taxes	0	0
Other assets	0	0
Total assets	(198,078)	(167,335)
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	0	0
Accrued expenses and other current liabilities	110	0
Accrued interest payable	0	0
Current portion of long-term debt	0	0
Deferred income taxes	0	0
Total current liabilities	110	0
Long-term debt	0	0
Amounts due to affiliates	5,887	5,771
Deferred income taxes	0	0
Other liabilities	0	0
Total liabilities	5,997	5,771
Shareholders’ (deficit) equity:
Common stock	196	196
Additional paid-in capital	724,661	724,562
Accumulated loss	(934,440)	(903,029)
Accumulated other comprehensive income	5,508	5,165
Total shareholders’ (deficit) equity	(204,075)	(173,106)
Total liabilities and shareholders’ (deficit) equity	(198,078)	(167,335)
Issuer
ASSETS
Cash and cash equivalents	1	4	8	1,700
Accounts receivable, less allowance for doubtful accounts	44,951	39,607
Inventories, net	82,166	75,512
Income taxes receivable	538	235
Deferred income taxes	382	381
Other current assets	6,188	5,425
Total current assets	134,226	121,164
Property, plant and equipment, net	51,230	53,042
Amounts due from affiliates	180,183	202,008
Goodwill	81,358	81,359
Customer relationships, net	15,069	16,826
Other intangible assets, net	6,365	6,495
Investments in consolidated subsidiaries	(3,955)	(5,318)
Deferred income taxes	0	0
Other assets	2,477	2,883
Total assets	466,953	478,459
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	59,679	49,869
Accrued expenses and other current liabilities	14,806	16,284
Accrued interest payable	11	12,837
Current portion of long-term debt	434,826	0
Deferred income taxes	0	0
Total current liabilities	509,322	78,990
Long-term debt	124,408	534,852
Amounts due to affiliates	10,811	11,982
Deferred income taxes	11,121	10,468
Other liabilities	9,369	9,502
Total liabilities	665,031	645,794
Shareholders’ (deficit) equity:
Common stock	0	0
Additional paid-in capital	661,769	661,673
Accumulated loss	(865,355)	(834,173)
Accumulated other comprehensive income	5,508	5,165
Total shareholders’ (deficit) equity	(198,078)	(167,335)
Total liabilities and shareholders’ (deficit) equity	466,953	478,459
Non-Guarantor
ASSETS
Cash and cash equivalents	1,867	2,070	4,390	7,277
Accounts receivable, less allowance for doubtful accounts	43,406	40,722
Inventories, net	28,482	30,873
Income taxes receivable	1,359	1,499
Deferred income taxes	42	45
Other current assets	1,562	1,584
Total current assets	76,718	76,793
Property, plant and equipment, net	52,807	58,122
Amounts due from affiliates	18,275	19,277
Goodwill	99,301	108,799
Customer relationships, net	7,685	9,489
Other intangible assets, net	0	0
Investments in consolidated subsidiaries	0	0
Deferred income taxes	179	0
Other assets	1,447	1,804
Total assets	256,412	274,284
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	24,093	28,977
Accrued expenses and other current liabilities	10,149	9,225
Accrued interest payable	74	75
Current portion of long-term debt	15,186	4,663
Deferred income taxes	811	895
Total current liabilities	50,313	43,835
Long-term debt	0	0
Amounts due to affiliates	181,760	203,532
Deferred income taxes	2,952	5,426
Other liabilities	25,342	26,809
Total liabilities	260,367	279,602
Shareholders’ (deficit) equity:
Common stock	21	21
Additional paid-in capital	199,452	199,453
Accumulated loss	(214,471)	(215,570)
Accumulated other comprehensive income	11,043	10,778
Total shareholders’ (deficit) equity	(3,955)	(5,318)
Total liabilities and shareholders’ (deficit) equity	256,412	274,284
Eliminations
ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, less allowance for doubtful accounts	0	0
Inventories, net	0	0
Income taxes receivable	0	0
Deferred income taxes	0	0
Other current assets	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Amounts due from affiliates	(198,458)	(221,285)
Goodwill	0	0
Customer relationships, net	0	0
Other intangible assets, net	0	0
Investments in consolidated subsidiaries	202,033	172,653
Deferred income taxes	0	0
Other assets	0	0
Total assets	3,575	(48,632)
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Accounts payable	0	0
Accrued expenses and other current liabilities	0	0
Accrued interest payable	0	0
Current portion of long-term debt	0	0
Deferred income taxes	0	0
Total current liabilities	0	0
Long-term debt	0	0
Amounts due to affiliates	(198,458)	(221,285)
Deferred income taxes	0	0
Other liabilities	0	0
Total liabilities	(198,458)	(221,285)
Shareholders’ (deficit) equity:
Common stock	(21)	(21)
Additional paid-in capital	(861,221)	(861,126)
Accumulated loss	1,079,826	1,049,743
Accumulated other comprehensive income	(16,551)	(15,943)
Total shareholders’ (deficit) equity	202,033	172,653
Total liabilities and shareholders’ (deficit) equity	$ 3,575	$ (48,632)

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Indebtedness (Details) (USD $) In Thousands, unless otherwise specified	Apr. 03, 2015	Dec. 31, 2014	Mar. 18, 2011
Debt Instrument [Line Items]
Long-term debt	$ 574,420	$ 539,515
Current portion of long-term debt	450,012	4,663
Long-term debt, excluding current maturities	124,408	534,852
Senior notes | Senior Secured Notes (9.50%)
Debt Instrument [Line Items]
Long-term debt	375,000	375,000
Current portion of long-term debt	375,000		375,000
Unsecured debt | Senior Unsecured Loan Facility (12.25%)
Debt Instrument [Line Items]
Long-term debt	124,408	124,233
Line of credit | ABL Credit Facility
Debt Instrument [Line Items]
Long-term debt	59,826	35,619
Current portion of long-term debt	59,800
Foreign Line of Credit | Dutch Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	14,163	3,532
Foreign Line of Credit | French receivables financing facility
Debt Instrument [Line Items]
Long-term debt	$ 1,023	$ 1,131

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Employee Benefit Plans (Tables)

3 Months Ended

Apr. 03, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Benefit Costs

Components of net periodic pension cost for the Company’s defined and multiemployer pension plans were as follows:

	Three months ended
	April 3, 2015						March 28, 2014
	U.S. Plan			UK Plan			U.S. Plan			UK Plan
	(in thousands)
Service cost	$	20		$	—		$	14		$	—
Interest cost	145			440			140			552
Expected return on assets	(189		)	(392		)	(186		)	(466		)
Recognized actuarial net loss	78			44			2			18
Total defined benefit net periodic pension cost	54			92			(30		)	104
Multiemployer benefit expense	272			—			258			—
Net periodic pension cost	$	326		$	92		$	228		$	104

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Fair Value Measurements (Details) (USD $)	3 Months Ended
	Apr. 03, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Long-term debt	$ 574,420,000	$ 539,515,000
Senior notes | Senior Secured Notes (9.50%)
Derivatives, Fair Value [Line Items]
Long-term debt	375,000,000	375,000,000
Fair Value, Inputs, Level 2 | Senior notes | Senior Secured Notes (9.50%)
Derivatives, Fair Value [Line Items]
Fair value of long-term debt	355,700,000	346,900,000
Not Designated as Hedging Instrument | Current assets | Foreign Exchange Contract | Fair Value, Inputs, Level 2
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset		500,000
Not Designated as Hedging Instrument | Other Nonoperating Income (Expense) | Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative, gain (loss) on derivative, net	$ 800,000

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Indebtedness - Dutch Revolving Credit Facility (Details) In Millions, unless otherwise specified		0 Months Ended		0 Months Ended
	Apr. 03, 2015	Feb. 28, 2012 Line of credit Dutch Revolving Credit Facility	Apr. 03, 2015 Line of credit Dutch Revolving Credit Facility USD ($)	Feb. 28, 2012 Line of credit Dutch Revolving Credit Facility Euribor Rate	Apr. 03, 2015 Line of credit Dutch Revolving Credit Facility Euro Member Countries, Euro EUR (€)	Feb. 28, 2012 Line of credit Dutch Revolving Credit Facility Euro Member Countries, Euro EUR (€)
Line of Credit Facility [Line Items]
Subsidiary ownership percentage	100.00%
Line of credit facility, maximum borrowing capacity						€ 15
Debt instrument, basis spread on variable rate				2.00%
Line of credit facility, commitment fee percentage		0.35%
Debt, weighted average interest rate			2.249%
Line of credit facility, remaining borrowing capacity			$ 2.3		€ 2.1

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Supplemental Guarantor Condensed Financial Information - Consolidated Statements of Operations (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Condensed Financial Statements, Captions [Line Items]
Net sales	$ 185,599	$ 169,904
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	160,587	146,971
Selling and general (excluding depreciation and amortization)	18,537	18,776
Depreciation and amortization	7,499	8,202
Other operating charges	2,263	965
(Loss) income from operations	(3,287)	(5,010)
Equity in earnings (losses) of subsidiaries	0	0
Interest expense	(13,934)	(13,765)
Intercompany income (loss), net	0	0
Other (loss) income, net	(15,465)	196
Loss before income taxes	(32,686)	(18,579)
(Benefit from) provision for income taxes	(1,275)	693
Net loss	(31,411)	(19,272)
Parent
Condensed Financial Statements, Captions [Line Items]
Net sales	0	0
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	0	0
Selling and general (excluding depreciation and amortization)	229	118
Depreciation and amortization	0	0
Other operating charges	0	0
(Loss) income from operations	(229)	(118)
Equity in earnings (losses) of subsidiaries	(31,182)	(19,154)
Interest expense	0	0
Intercompany income (loss), net	0	0
Other (loss) income, net	0	0
Loss before income taxes	(31,411)	(19,272)
(Benefit from) provision for income taxes	0	0
Net loss	(31,411)	(19,272)
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net sales	121,117	101,846
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	106,810	91,773
Selling and general (excluding depreciation and amortization)	11,901	12,411
Depreciation and amortization	5,262	5,389
Other operating charges	1,753	542
(Loss) income from operations	(4,609)	(8,269)
Equity in earnings (losses) of subsidiaries	1,099	(1,692)
Interest expense	(13,545)	(13,407)
Intercompany income (loss), net	3,780	4,565
Other (loss) income, net	(17,479)	317
Loss before income taxes	(30,754)	(18,486)
(Benefit from) provision for income taxes	428	668
Net loss	(31,182)	(19,154)
Non-Guarantor
Condensed Financial Statements, Captions [Line Items]
Net sales	66,026	69,582
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	55,321	56,722
Selling and general (excluding depreciation and amortization)	6,407	6,247
Depreciation and amortization	2,237	2,813
Other operating charges	510	423
(Loss) income from operations	1,551	3,377
Equity in earnings (losses) of subsidiaries	0	0
Interest expense	(389)	(358)
Intercompany income (loss), net	(3,780)	(4,565)
Other (loss) income, net	2,014	(121)
Loss before income taxes	(604)	(1,667)
(Benefit from) provision for income taxes	(1,703)	25
Net loss	1,099	(1,692)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net sales	(1,544)	(1,524)
Costs and Expense:
Cost of goods sold (excluding depreciation and amortization)	(1,544)	(1,524)
Selling and general (excluding depreciation and amortization)	0	0
Depreciation and amortization	0	0
Other operating charges	0	0
(Loss) income from operations	0	0
Equity in earnings (losses) of subsidiaries	30,083	20,846
Interest expense	0	0
Intercompany income (loss), net	0	0
Other (loss) income, net	0	0
Loss before income taxes	30,083	20,846
(Benefit from) provision for income taxes	0	0
Net loss	$ 30,083	$ 20,846

XML

Inventories

3 Months Ended

Apr. 03, 2015

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories were comprised of:

	April 3, 2015		December 31, 2014
	(in thousands)
Aluminum and steel coil	$	71,270	$	72,587
Raw materials	19,829		16,427
Work in process	2,481		2,467
Finished products	17,068		14,904
Total inventories, net	$	110,648	$	106,385

The Company has disclosed aluminum and steel coil inventory separately, as it represents inventory that can be classified as raw material, work in process or finished product. Aluminum and steel coil includes both painted and bare coil. Inventories are net of related reserves totaling $2.6 million and $2.5 million as of April 3, 2015 and December 31, 2014, respectively.

XML

Other Operating Charges (Details) (USD $)	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Other Operating Costs [Line Items]
Other operating charges	$ 2,263,000	$ 965,000
Other operating charges
Other Operating Costs [Line Items]
Other operating charges	2,263,000	965,000
Retention costs	800,000
Professional and contract services expense	700,000
Other severance and nonrecurring costs	300,000
Other operating charges | United States
Other Operating Costs [Line Items]
Restructuring and related cost, incurred cost		100,000
U.S. Residential Products | Other operating charges
Other Operating Costs [Line Items]
Other operating charges	0	108,000
U.S. Commercial Products | Other operating charges
Other Operating Costs [Line Items]
Other operating charges	0	30,000
European Roll Coated Aluminum | Other operating charges
Other Operating Costs [Line Items]
Other operating charges	268,000	0
Retention costs	300,000
European Engineered Products | Other operating charges
Other Operating Costs [Line Items]
Other operating charges	242,000	423,000
Restructuring and related cost, incurred cost	200,000	400,000
European Engineered Products | Other operating charges | France
Other Operating Costs [Line Items]
Other severance and nonrecurring costs		100,000
European Engineered Products | Other operating charges | U.K.
Other Operating Costs [Line Items]
Other severance and nonrecurring costs		300,000
Other Non-Allocated | Other operating charges
Other Operating Costs [Line Items]
Other operating charges	1,753,000	404,000
Professional and contract services expense		$ 400,000

XML

Basis of Presentation and Principles of Consolidation - Foreign Currency Translations (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Foreign Currency, Gains and Losses [Line Items]
Additional days in first fiscal quarter	6 days
Other Income
Foreign Currency, Gains and Losses [Line Items]
Foreign currency transaction (loss) gain, before tax	$ (16.2)	$ 0.2

XML

Supplemental Guarantor Condensed Financial Information (Tables)

3 Months Ended

Apr. 03, 2015

Supplemental Guarantor Condensed Financial Information [Abstract]

Schedule of Condensed Balance Sheet

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

APRIL 3, 2015

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1		$	1,867		$	—		$	1,868
Accounts receivable, less allowance for doubtful accounts	—			44,951			43,406			—			88,357
Inventories, net	—			82,166			28,482			—			110,648
Income taxes receivable	—			538			1,359			—			1,897
Deferred income taxes	—			382			42			—			424
Other current assets	—			6,188			1,562			—			7,750
Total current assets	—			134,226			76,718			—			210,944
Property, plant and equipment, net	—			51,230			52,807			—			104,037
Amounts due from affiliates	—			180,183			18,275			(198,458		)	—
Goodwill	—			81,358			99,301			—			180,659
Customer relationships, net	—			15,069			7,685			—			22,754
Other intangible assets, net	—			6,365			—			—			6,365
Investment in consolidated subsidiaries	(198,078		)	(3,955		)	—			202,033			—
Deferred income taxes	—			—			179			—			179
Other assets	—			2,477			1,447			—			3,924
Total assets	$	(198,078	)	$	466,953		$	256,412		$	3,575		$	528,862
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	59,679		$	24,093		$	—		$	83,772
Accrued expenses and other current liabilities	110			14,806			10,149			—			25,065
Accrued interest payable	—			11			74			—			85
Current portion of long-term debt	—			434,826			15,186			—			450,012
Deferred income taxes	—			—			811			—			811
Total current liabilities	110			509,322			50,313			—			559,745
Long-term debt	—			124,408			—			—			124,408
Amounts due to affiliates	5,887			10,811			181,760			(198,458		)	—
Deferred income taxes	—			11,121			2,952			—			14,073
Other liabilities	—			9,369			25,342			—			34,711
Total liabilities	5,997			665,031			260,367			(198,458		)	732,937
Shareholders’ (deficit) equity:
Common stock	196			—			21			(21		)	196
Additional paid-in capital	724,661			661,769			199,452			(861,221		)	724,661
Accumulated loss	(934,440		)	(865,355		)	(214,471		)	1,079,826			(934,440		)
Accumulated other comprehensive income	5,508			5,508			11,043			(16,551		)	5,508
Total shareholders’ (deficit) equity	(204,075		)	(198,078		)	(3,955		)	202,033			(204,075		)
Total liabilities and shareholders’ (deficit) equity	$	(198,078	)	$	466,953		$	256,412		$	3,575		$	528,862

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

DECEMBER 31, 2014
(in thousands)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	4		$	2,070		$	—		$	2,074
Accounts receivable, less allowance for doubtful accounts	—			39,607			40,722			—			80,329
Inventories, net	—			75,512			30,873			—			106,385
Income taxes receivable	—			235			1,499			—			1,734
Deferred income taxes	—			381			45			—			426
Other current assets	—			5,425			1,584			—			7,009
Total current assets	—			121,164			76,793			—			197,957
Property, plant and equipment, net	—			53,042			58,122			—			111,164
Amounts due from affiliates	—			202,008			19,277			(221,285		)	—
Goodwill	—			81,359			108,799			—			190,158
Customer relationships, net	—			16,826			9,489			—			26,315
Other intangible assets, net	—			6,495			—			—			6,495
Investment in consolidated subsidiaries	(167,335		)	(5,318		)	—			172,653			—
Deferred income taxes	—			—			—			—			—
Other assets	—			2,883			1,804			—			4,687
Total assets	$	(167,335	)	$	478,459		$	274,284		$	(48,632	)	$	536,776
LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	49,869		$	28,977		$	—		$	78,846
Accrued expenses and other current liabilities	—			16,284			9,225			—			25,509
Accrued interest payable	—			12,837			75			—			12,912
Current portion of long term debt	—			—			4,663			—			4,663
Deferred income taxes	—			—			895			—			895
Total current liabilities	—			78,990			43,835			—			122,825
Long-term debt	—			534,852			—			—			534,852
Amounts due to affiliates	5,771			11,982			203,532			(221,285		)	—
Deferred income taxes	—			10,468			5,426			—			15,894
Other liabilities	—			9,502			26,809			—			36,311
Total liabilities	5,771			645,794			279,602			(221,285		)	709,882
Shareholders’ (deficit) equity:
Common stock	196			—			21			(21		)	196
Additional paid-in capital	724,562			661,673			199,453			(861,126		)	724,562
Accumulated loss	(903,029		)	(834,173		)	(215,570		)	1,049,743			(903,029		)
Accumulated other comprehensive income	5,165			5,165			10,778			(15,943		)	5,165
Total shareholders’ (deficit) equity	(173,106		)	(167,335		)	(5,318		)	172,653			(173,106		)
Total liabilities and shareholders’ (deficit) equity	$	(167,335	)	$	478,459		$	274,284		$	(48,632	)	$	536,776

Schedule of Condensed Income Statement

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED MARCH 28, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	101,846		$	69,582		$	(1,524	)	$	169,904
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			91,773			56,722			(1,524		)	146,971
Selling and general (excluding depreciation and amortization)	118			12,411			6,247			—			18,776
Depreciation and amortization	—			5,389			2,813			—			8,202
Other operating charges	—			542			423			—			965
(Loss) income from operations	(118		)	(8,269		)	3,377			—			(5,010		)
Equity in earnings (losses) of subsidiaries	(19,154		)	(1,692		)	—			20,846			—
Interest expense	—			(13,407		)	(358		)	—			(13,765		)
Intercompany income (loss), net	—			4,565			(4,565		)	—			—
Other income (loss), net	—			317			(121		)	—			196
Loss before income taxes	(19,272		)	(18,486		)	(1,667		)	20,846			(18,579		)
Provision for income taxes	—			668			25			—			693
Net loss	$	(19,272	)	$	(19,154	)	$	(1,692	)	$	20,846		$	(19,272	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED APRIL 3, 2015
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	121,117		$	66,026		$	(1,544	)	$	185,599
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			106,810			55,321			(1,544		)	160,587
Selling and general (excluding depreciation and amortization)	229			11,901			6,407			—			18,537
Depreciation and amortization	—			5,262			2,237			—			7,499
Other operating charges	—			1,753			510			—			2,263
(Loss) income from operations	(229		)	(4,609		)	1,551			—			(3,287		)
Equity in earnings (losses) of subsidiaries	(31,182		)	1,099			—			30,083			—
Interest expense	—			(13,545		)	(389		)	—			(13,934		)
Intercompany income (loss), net	—			3,780			(3,780		)	—			—
Other (loss) income, net	—			(17,479		)	2,014			—			(15,465		)
Loss before income taxes	(31,411		)	(30,754		)	(604		)	30,083			(32,686		)
(Benefit from) provision for income taxes	—			428			(1,703		)	—			(1,275		)
Net loss	$	(31,411	)	$	(31,182	)	$	1,099		$	30,083		$	(31,411	)

Schedule of Condensed Statement of Comprehensive Income

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 28, 2014

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(19,272	)	$	(19,154	)	$	(1,692	)	$	20,846		$	(19,272	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(389		)	(389		)	(389		)	778			(389		)
Defined benefit pension plan adjustments, net of tax	20			20			18			(38		)	20
Total comprehensive loss	$	(19,641	)	$	(19,523	)	$	(2,063	)	$	21,586		$	(19,641	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED APRIL 3, 2015

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor		Eliminations			Total
Net loss	$	(31,411	)	$	(31,182	)	$	1,099	$	30,083		$	(31,411	)
Other comprehensive income:
Foreign currency translation adjustment	221			221			221		(442		)	221
Defined benefit pension plan adjustments, net of tax	122			122			44		(166		)	122
Total comprehensive loss	$	(31,068	)	$	(30,839	)	$	1,364	$	29,475		$	(31,068	)

Schedule of Condensed Cash Flow Statement

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWSFOR THE THREE MONTHS ENDED APRIL 3, 2015
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash used in operating activities	$	—	$	(25,168	)	$	(7,302	)	$	—		$	(32,470	)
Cash flows from investing activities:
Proceeds from sale of assets	—		43			—			—			43
Capital expenditures	—		(1,563		)	(546		)	—			(2,109		)
Due (to) from affiliates	—		—			(2,478		)	2,478			—
Net cash used in investing activities	—		(1,520		)	(3,024		)	2,478			(2,066		)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	—		24,207			—			—			24,207
Net borrowings on European Credit Facilities	—		—			10,523			—			10,523
Due from (to) affiliates	—		2,478			—			(2,478		)	—
Net cash provided by financing activities	—		26,685			10,523			(2,478		)	34,730
Effect of exchange rate changes on cash	—		—			(400		)	—			(400		)
Net decrease in cash and cash equivalents	—		(3		)	(203		)	—			(206		)
Cash and cash equivalents at beginning of period	—		4			2,070			—			2,074
Cash and cash equivalents at end of period	$	—	$	1		$	1,867		$	—		$	1,868

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWSFOR THE THREE MONTHS ENDED MARCH 28, 2014
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash (used in) provided by operating activities	$	—	$	4,233		$	(8,119	)	$	—		$	(3,886	)
Cash flows from investing activities:
Proceeds from sale of assets	—		43			—			—			43
Capital expenditures	—		(976		)	(512		)	—			(1,488		)
Due (to) from affiliates	—		—			(8,616		)	8,616			—
Net cash used in investing activities	—		(933		)	(9,128		)	8,616			(1,445		)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	—		—			14,657			—			14,657
Net repayments on ABL Credit Facility	—		(13,756		)	—			—			(13,756		)
Changes in cash overdrafts	—		236			—			—			236
Debt issuance costs	—		(88		)	—			—			(88		)
Due from (to) affiliates	—		8,616			—			(8,616		)	—
Net cash provided by (used in) financing activities	—		(4,992		)	14,657			(8,616		)	1,049
Effect of exchange rate changes on cash	—		—			(297		)	—			(297		)
Net decrease in cash and cash equivalents	—		(1,692		)	(2,887		)	—			(4,579		)
Cash and cash equivalents at beginning of period	—		1,700			7,277			—			8,977
Cash and cash equivalents at end of period	$	—	$	8		$	4,390		$	—		$	4,398

XML

Segment Information (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Apr. 03, 2015 segments	Mar. 28, 2014
Segment Reporting Information [Line Items]
Third party, net sales	$ 185,599	$ 169,904
(Loss) income from operations	(3,287)	(5,010)
Depreciation and amortization	7,499	8,202
Capital expenditures	2,109	1,488
Segment Reporting, Disclosure of Other Information about Entity's Reportable Segments [Abstract]
Number of reportable segments	4
U.S. Residential Products
Segment Reporting Information [Line Items]
Third party, net sales	57,044	46,122
(Loss) income from operations	1,725	(1,634)
Depreciation and amortization	2,648	2,733
Capital expenditures	461	339
U.S. Commercial Products
Segment Reporting Information [Line Items]
Third party, net sales	65,545	57,484
(Loss) income from operations	(2,793)	(4,680)
Depreciation and amortization	2,456	2,542
Capital expenditures	201	555
European Roll Coated Aluminum
Segment Reporting Information [Line Items]
Third party, net sales	47,110	50,137
(Loss) income from operations	1,623	3,929
Depreciation and amortization	1,822	2,353
Capital expenditures	284	340
European Engineered Products
Segment Reporting Information [Line Items]
Third party, net sales	16,303	16,577
(Loss) income from operations	301	(346)
Depreciation and amortization	380	417
Capital expenditures	249	163
Other Non-Allocated
Segment Reporting Information [Line Items]
Third party, net sales	0	0
(Loss) income from operations	(4,143)	(2,279)
Depreciation and amortization	193	157
Capital expenditures	914	91
Eliminations
Segment Reporting Information [Line Items]
Third party, net sales	(403)	(416)
(Loss) income from operations	0	0
Depreciation and amortization	0	0
Capital expenditures	0	0
Operating Segments
Segment Reporting Information [Line Items]
Third party, net sales	185,599	169,904
Operating Segments | U.S. Residential Products
Segment Reporting Information [Line Items]
Third party, net sales	56,853	45,943
Operating Segments | U.S. Commercial Products
Segment Reporting Information [Line Items]
Third party, net sales	65,504	57,456
Operating Segments | European Roll Coated Aluminum
Segment Reporting Information [Line Items]
Third party, net sales	46,939	49,928
Operating Segments | European Engineered Products
Segment Reporting Information [Line Items]
Third party, net sales	16,303	16,577
Operating Segments | Other Non-Allocated
Segment Reporting Information [Line Items]
Third party, net sales	0	0
Operating Segments | Eliminations
Segment Reporting Information [Line Items]
Third party, net sales	0	0
Segment Reconciling Items
Segment Reporting Information [Line Items]
Third party, net sales	0	0
Segment Reconciling Items | U.S. Residential Products
Segment Reporting Information [Line Items]
Third party, net sales	191	179
Segment Reconciling Items | U.S. Commercial Products
Segment Reporting Information [Line Items]
Third party, net sales	41	28
Segment Reconciling Items | European Roll Coated Aluminum
Segment Reporting Information [Line Items]
Third party, net sales	171	209
Segment Reconciling Items | European Engineered Products
Segment Reporting Information [Line Items]
Third party, net sales	0	0
Segment Reconciling Items | Other Non-Allocated
Segment Reporting Information [Line Items]
Third party, net sales	0	0
Segment Reconciling Items | Eliminations
Segment Reporting Information [Line Items]
Third party, net sales	$ (403)	$ (416)

XML

Operations and Significant Accounting Policies (Details) (USD $) In Thousands, unless otherwise specified	Apr. 03, 2015	Dec. 31, 2014	Mar. 18, 2011
Debt Instrument [Line Items]
Current portion of long-term debt	$ 450,012	$ 4,663
Senior Secured Notes (9.50%) | Senior notes
Debt Instrument [Line Items]
Current portion of long-term debt	375,000		375,000
Debt instrument, interest rate, stated percentage			9.50%
ABL Credit Facility | Line of credit
Debt Instrument [Line Items]
Current portion of long-term debt	$ 59,800

XML

Operations and Significant Accounting Policies - Accounts Receivable (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable	$ 86.8	$ 77.1
European Roll Coated Aluminum | U.K.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, direct write off	$ 1.2

XML

Operations and Significant Accounting Policies

3 Months Ended

Apr. 03, 2015

Operations and Significant Accounting Policies [Abstract]

Significant Accounting Policies

Operations and Significant Accounting Policies

Indebtedness

The $375 million9.50% Senior Secured Notes (the "Notes") become due on April 1, 2016. In the event the Notes are not refinanced prior to December 31, 2015, the ABL Credit Facility becomes due on January 31, 2016. Generally accepted accounting principles require that long-term debt be classified as a current liability when the maturity date for such debt is within 12 months of a company's reporting period. Accordingly, as of April 3, 2015, the Company is required to classify its outstanding long-term debt under the Notes and the ABL Credit Facility totaling $375 million and $59.8 million, respectively, to current liabilities on its consolidated balance sheet since the Company has not finalized the refinancing of the debt. If the Company were unable to refinance or extend the maturity date of its Notes the Company may not be able to generate sufficient cash to service all of the indebtedness and may not be able to refinance the indebtedness on favorable terms. This ability, to a certain extent, is subject to general economic, financial, competitive, legislative, regulatory and other factors beyond the Company’s control. The Company is actively pursuing several alternatives to address the maturity date of its Notes, including but not limited to engagement of an investment banking firm and legal counsel to facilitate the refinancing process. Based on current market conditions, the Company expects to be able to complete a refinancing of the Notes prior to December 31, 2015, although there can be no assurances of the timing of terms thereof. See Note 4 for further disclosures related to long-term debt.

Accounts Receivable

Accounts receivable are comprised of trade accounts receivable and other receivables. Trade accounts receivable are recorded at net realizable value and totaled $86.8 million and $77.1 million as of April 3, 2015 and December 31, 2014, respectively. This value includes an allowance for estimated uncollectible accounts, returns and allowances, cash discounts and other adjustments. The allowance for doubtful accounts is based on historical experience, the level of past-due accounts based on the contractual terms of the receivables, current economic conditions and an evaluation of the customers' credit worthiness. Accounts receivable are charged against the allowance for doubtful accounts when it is probable that the receivable will not be recovered. During the first quarter of 2015, the Company incurred a loss of $1.2 million in the European Roll Coated Aluminum segment on accounts receivable related to the bankruptcy of a customer in the UK.

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Inventories (Details) (USD $)	Apr. 03, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Aluminum and steel coil	$ 71,270,000	$ 72,587,000
Raw materials	19,829,000	16,427,000
Work in process	2,481,000	2,467,000
Finished products	17,068,000	14,904,000
Inventories, net	110,648,000	106,385,000
Inventory valuation reserves	$ (2,600,000)	$ (2,500,000)

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Accumulated Other Comprehensive Income (Details) (USD $)	3 Months Ended
	Apr. 03, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	$ 5,165,000
Other comprehensive income before reclassifications	221,000
Amounts reclassified from accumulated other comprehensive income	122,000
Net other comprehensive income	343,000
Balance, end of period	5,508,000
Accumulated Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	19,557,000
Other comprehensive income before reclassifications	221,000
Amounts reclassified from accumulated other comprehensive income	0
Net other comprehensive income	221,000
Balance, end of period	19,778,000
Accumulated Defined Benefit Plans Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(14,392,000)
Other comprehensive income before reclassifications	0
Amounts reclassified from accumulated other comprehensive income	122,000
Net other comprehensive income	122,000
Balance, end of period	(14,270,000)
Accumulated tax effect	$ 300,000	$ (300,000)

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Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Apr. 03, 2015	Dec. 31, 2014	Mar. 28, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 1,868	$ 2,074	$ 4,398	$ 8,977
Accounts receivable, less allowances of $1,268 and $1,522, respectively	88,357	80,329
Inventories, net	110,648	106,385
Income taxes receivable	1,897	1,734
Deferred income taxes	424	426
Other current assets	7,750	7,009
Total current assets	210,944	197,957
Property, plant and equipment, net	104,037	111,164
Goodwill	180,659	190,158
Customer relationships, net	22,754	26,315
Other intangible assets, net	6,365	6,495
Deferred income taxes	179	0
Other assets	3,924	4,687
Total assets	528,862	536,776
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Accounts payable	83,772	78,846
Accrued expenses and other current liabilities	25,065	25,509
Accrued interest payable	85	12,912
Current portion of long-term debt	450,012	4,663
Deferred income taxes	811	895
Total current liabilities	559,745	122,825
Long-term debt	124,408	534,852
Deferred income taxes	14,073	15,894
Other liabilities	34,711	36,311
Total liabilities	732,937	709,882
Shareholders’ deficit:
Common stock	196	196
Additional paid-in capital	724,661	724,562
Accumulated loss	(934,440)	(903,029)
Accumulated other comprehensive income	5,508	5,165
Total shareholders’ deficit	(204,075)	(173,106)
Total liabilities and shareholders’ deficit	$ 528,862	$ 536,776

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Segment Information - Revenues from External Customers (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	$ 185,599	$ 169,904
Original Equipment Manufacturers (OEM's)
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	56,608	55,735
Home Improvement Retailers
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	34,395	30,086
Industrial and Architectural Contractors
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	33,221	33,862
Rural Contractors
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	21,641	18,904
Distributors
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	19,030	14,299
Home Improvement Contractors
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	11,302	9,145
Manufactured Housing
Revenue from External Customer [Line Items]
Sales Revenue, Goods, Net	$ 9,402	$ 7,873

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Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Cash flows from operating activities [Abstract]
Net loss	$ (31,411)	$ (19,272)
Reconciliation of net loss to net cash provided by operating activities:
Depreciation and amortization	7,499	8,202
Amortization of deferred financing fees	641	576
Amortization of debt discount	175	129
Share-based compensation	99	121
Provision for doubtful accounts	1,318	119
Foreign exchange loss (gain)	16,559	(212)
Gain on sale or disposal of assets	0	(6)
Deferred income taxes	(1,497)	864
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	(12,341)	(18,149)
Inventories	(6,586)	(14,948)
Other current assets	(868)	(690)
Accounts payable and other current liabilities	(5,329)	38,675
Income taxes payable	(390)	501
Other noncurrent assets and liabilities	(339)	204
Net cash used in operating activities	(32,470)	(3,886)
Cash flows from investing activities:
Proceeds from sales of assets	43	43
Capital expenditures	(2,109)	(1,488)
Net cash used in investing activities	(2,066)	(1,445)
Cash flows from financing activities:
Net borrowings (repayments) on ABL Credit Facility	24,207	(13,756)
Net borrowings on European Credit Facilities	10,523	14,657
Changes in cash overdrafts	0	236
Debt issuance costs	0	(88)
Net cash provided by financing activities	34,730	1,049
Effect of exchange rate changes on cash	(400)	(297)
Net decrease in cash and cash equivalents	(206)	(4,579)
Cash and cash equivalents at beginning of period	2,074	8,977
Cash and cash equivalents at end of period	$ 1,868	$ 4,398

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Indebtedness - Senior Unsecured Loan Facility (Details) (USD $) In Millions, unless otherwise specified	0 Months Ended
	Mar. 18, 2011	Apr. 03, 2015
Debt Instrument [Line Items]
Subsidiary ownership percentage		100.00%
Senior Secured Notes (9.50%) | Senior notes
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	9.50%
Senior Secured Notes (9.50%) | Senior notes | Change of control
Debt Instrument [Line Items]
Prepayment redemption price percentages	101.00%
Senior Unsecured Loan Facility (12.25%)
Debt Instrument [Line Items]
Subsidiary ownership percentage		100.00%
Senior Unsecured Loan Facility (12.25%) | Unsecured debt
Debt Instrument [Line Items]
Debt instrument, face amount	125
Debt instrument, issuance price as percent of par value	98.00%
Debt instrument, unamortized discount		0.6
Maximum number of quarters the paid in kind election may be made	6
Senior Unsecured Loan Facility (12.25%) | Unsecured debt | Change of control
Debt Instrument [Line Items]
Potentional required purchase price upon change of control, percentage of purchase price	101.00%
Senior Unsecured Loan Facility (12.25%) | Unsecured debt | On or after the second anniversary of the closing but prior to the third anniversary thereof
Debt Instrument [Line Items]
Prepayment redemption price percentages	103.00%
Senior Unsecured Loan Facility (12.25%) | Unsecured debt | On or after the third anniversary of the closing but prior to the fourth anniversary thereof
Debt Instrument [Line Items]
Prepayment redemption price percentages	102.00%
Senior Unsecured Loan Facility (12.25%) | Unsecured debt | On or after the fourth anniversary of the closing
Debt Instrument [Line Items]
Prepayment redemption price percentages	100.00%
Senior Unsecured Loan Facility (12.25%) | Unsecured debt | No paid interest in kind election
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	12.25%
Debt instrument, interest rate, effective percentage		12.25%
Senior Unsecured Loan Facility (12.25%) | Unsecured debt | Payment in Kind (PIK) Note
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	14.25%
Senior Unsecured Loan Facility (12.25%) | Unsecured debt | Payment in Kind (PIK) Note | Cash interest portion
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	7.875%
Senior Unsecured Loan Facility (12.25%) | Unsecured debt | Payment in Kind (PIK) Note | Paid in kind interest portion
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	6.375%

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Indebtedness (Tables)

3 Months Ended

Apr. 03, 2015

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Indebtedness consisted of the following:

	April 3, 2015		December 31, 2014
	(in thousands)
Senior Secured Notes (9.50%)	$	375,000	$	375,000
Senior Unsecured Loan Facility (12.25%)	124,408		124,233
ABL Credit Facility	59,826		35,619
Dutch Revolving Credit Facility	14,163		3,532
French Credit Facility	1,023		1,131
Total debt	574,420		539,515
Less: current portion	450,012		4,663
Total long term debt	$	124,408	$	534,852

Schedule of Redemption Rates on Senior Secured Notes

The Notes may be redeemed at the option of Euramax International, in whole or in part, under the conditions specified in the Indenture, at the following redemption prices plus accrued and unpaid interest to the redemption date if redeemed during the twelve-month period beginning on April 1 of the years indicated:

Year	Percentage
2013	107.125	%
2014	104.750	%
2015 and thereafter	100.000	%

Prepayment Rates on Senior Unsecured Loan Facility

Euramax International may prepay outstanding amounts under the Senior Unsecured Loan Facility, in whole or in part, at the prices (expressed as percentages of the loans) set forth below:

Prepayment Date	Percentage
On or after the second anniversary of the closing but prior to the third anniversary thereof	103	%
On or after the third anniversary of the closing but prior to the fourth anniversary thereof	102	%
On or after the fourth anniversary of the closing	100	%

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Indebtedness - ABL Credit Facility (Details) (USD $) In Millions, unless otherwise specified	0 Months Ended	3 Months Ended	0 Months Ended
	Mar. 23, 2015	Apr. 03, 2015	Mar. 18, 2011	Mar. 21, 2014	Mar. 25, 2013
Line of Credit Facility [Line Items]
Subsidiary ownership percentage		100.00%
Minimum consolidated adjusted 2015 EBITDA	$ 52.0
ABL Credit Facility | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Debt instrument, description of variable rate basis		LIBOR
ABL Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Debt instrument, description of variable rate basis		Base Rate
ABL Credit Facility | Prime Rate
Line of Credit Facility [Line Items]
Debt instrument, description of variable rate basis		prime rate
ABL Credit Facility | Federal Funds
Line of Credit Facility [Line Items]
Debt instrument, description of variable rate basis		federal funds
Line of credit | ABL Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			70
Line of credit facility, remaining borrowing capacity		10.2
Debt, weighted average interest rate		2.254%
Foreign restricted subsidiaries, percent of voting capital stock, collateral			65.00%
Foreign restricted subsidiaries, percent of non-voting capital stock, collateral			100.00%
Amended excess availability threshold percenatge that triggers a minimum consolidated fixed charge coverage ratio		12.50%			12.50%
Line of credit | ABL Credit Facility | Minimum
Line of Credit Facility [Line Items]
Line of credit facility, unused capacity, commitment fee percentage			0.375%
Line of credit | ABL Credit Facility | Maximum
Line of Credit Facility [Line Items]
Line of credit facility, unused capacity, commitment fee percentage			0.50%
Line of credit | ABL Credit Facility | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Line of credit | ABL Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				1.75%
Line of credit | ABL Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				2.25%
Line of credit | ABL Credit Facility | Base Rate | Minimum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				1.00%
Line of credit | ABL Credit Facility | Base Rate | Maximum
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				1.25%
Line of credit | ABL Credit Facility | Federal Funds
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate				0.50%
Line of credit | Seasonal Overadvance A
Line of Credit Facility [Line Items]
Line of credit facility additional borrowing capacity seasonal overadvance A				15.0
Line of credit | Seasonal Overadvance A | Minimum
Line of Credit Facility [Line Items]
Debt convenant, required fixed charge coverage ratio	1.00
Line of credit | Seasonal Overadvance B
Line of Credit Facility [Line Items]
Line of credit facility additional borrowing capacity seasonal overadvance B				9.0
Line of credit | Seasonal Overadvance C
Line of Credit Facility [Line Items]
Line of credit facility additional borrowing capacity seasonal overadvance C				6.0
Line of credit | Alternate Seasonal Overadvance Type B
Line of Credit Facility [Line Items]
Seasonal overadvance fee	0.20%
Line of credit | Alternate Seasonal Overadvance Type B | Minimum
Line of Credit Facility [Line Items]
Debt convenant, required fixed charge coverage ratio	0.85
Line of credit | Alternate Seasonal Overadvance Type B | Maximum
Line of Credit Facility [Line Items]
Debt convenant, required fixed charge coverage ratio	1.00

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Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Apr. 03, 2015

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by component for the three month period ended April 3, 2015 were as follows:

	Foreign Currency Translation Adjustments		Defined Benefit Pension Plan Adjustments			Total
	(in thousands)
Balance, beginning of period	$	19,557	$	(14,392	)	$	5,165
Other comprehensive income before reclassifications	221		—			221
Amounts reclassified from accumulated other comprehensive income	—		122			122
Net other comprehensive income	221		122			343
Balance, end of period	$	19,778	$	(14,270	)	$	5,508

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Basis of Presentation and Principles of Consolidation

3 Months Ended

Apr. 03, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of Euramax Holdings, Inc. and its subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, these statements include all adjustments considered necessary for the fair presentation of all interim periods reported herein. All adjustments are of a normal recurring nature unless otherwise disclosed.

The Company’s sales volumes have historically been higher in the second and third quarters due to the seasonal demand of the building products markets served. Accordingly, results for the three months ended April 3, 2015 are not necessarily indicative of the results that may be expected for the full year. Management believes that the disclosures made are adequate for a fair presentation of the Company’s results of operations, financial position and cash flows. These condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.

Assets and liabilities of non-U.S. subsidiaries are translated to U.S. Dollars at the rate of exchange in effect on the balance sheet date. Income and expenses are translated to U.S. Dollars at the weighted average rates of exchange prevailing during the period. Foreign currency gains and losses resulting from the remeasurement of inter-company amounts that are not of a long-term investment nature into local currencies and certain indebtedness of foreign subsidiaries denominated in U.S. dollars are included in other (loss) income, net. Other (loss) income, net includes losses of $16.2 million and income of $0.2 million for the three months ended April 3, 2015 and March 28, 2014, respectively. Foreign currency gains and losses resulting from transactions in the ordinary course of business are recorded in selling and general expenses. Foreign currency transaction gains and losses recorded in selling and general expenses were not significant for any period presented.

Principles of Consolidation

The accompanying condensed consolidated financial statements include the Company’s accounts and the accounts of its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Each of our interim reporting periods, other than the fourth interim reporting period, ends on the Friday closest to the last day of the corresponding quarterly calendar period. The first quarter of 2015 and 2014 ended on April 3 and March 28, respectively. The first quarter of 2015 contains 6 additional days compared to the first quarter of 2014. Our fourth interim reporting period and our fiscal year end on December 31 regardless of the day of the week on which it falls.

Recent Accounting Pronouncements

In May 2014, the FASB issued new revenue recognition guidance, which supersedes most current revenue recognition guidance, including industry-specific guidance, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. The Company is currently assessing the impact of implementing this guidance on the Company's financial position, results of operations, and cash flows.

In April 2015, the FASB issued new guidance related to the presentation of debt issuance costs. The guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. For public business entities, the guidance is effective for annual and interim periods beginning after December 15, 2015, and is to be applied retrospectively. Early adoption is permitted. The Company is currently assessing the impact of implementing this guidance on the Company's financial position, results of operations, and cash flows.

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Condensed Consolidated Balance Sheets (Parentheticals) (USD $) In Thousands, unless otherwise specified	Apr. 03, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$ 1,268	$ 1,522

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Segment Information

3 Months Ended

Apr. 03, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company manages its business and serves its customers through reportable segments differentiated by product type, end market, and geography. Beginning in the fourth quarter of 2014, the Company included net sales and the related cost of goods sold for certain commercial panels sold to customers in Residential markets within the U.S. Commercial Products Segment results. Previously, these products were included in the U.S. Residential Products Segment. The Company's results for the three months ended March 28, 2014 have been adjusted to reflect this change in reportable segments.

The Company's four reportable segments are described below:

U.S. Residential Products—The U.S. Residential Products segment utilizes aluminum, steel, copper and vinyl to produce residential roof drainage products, including preformed gutters, downspouts, elbows, soffit, drip edge, fascia, flashing, snow guards and related accessories. These products are used primarily for the repair, replacement or enhancement of residential roof drainage systems. The Company sells these products to home improvement retailers, lumber yards, distributors and contractors from manufacturing and distribution facilities throughout North America. The Company also produces specialty made-to-order vinyl replacement windows and aluminum patio and awning components sold primarily to home improvement contractors in the western U.S.

U.S. Commercial Products—The U.S. Commercial Products segment utilizes various materials including steel coil, aluminum coil and fiberglass to create various products with commercial applications, including roofing and siding panels, ridge caps, flashing, trim, soffit and other accessories as well as sidewall components, siding and other exterior components for the towable RV, cargo and manufactured housing markets. The Company sells these products to builders, contractors, lumber yards, home improvement retailers, OEMs, and RV manufacturers from manufacturing and distribution facilities located throughout the U.S. These products are used in the construction of a wide variety of small scale commercial, agricultural and industrial building types on either wood or metal frames, manufactured homes, and towable RVs.

European Roll Coated Aluminum—The European Roll Coated Aluminum segment uses a roll coating process to apply paint to bare aluminum coil and, to a lesser extent, bare steel coil in order to produce specialty coated coil, which the Company also processes into specialty coated sheets and panels. The Company sells these products to building panel manufacturers, contractors and UK “holiday home,” RV and transportation OEMs throughout Europe and in parts of Asia. The Company’s customers use its specialty coated metal products to manufacture, among other things, RV sidewalls, commercial roofing panels, interior ceiling panels, and liner panels for shipping containers. The Company produces and distributes these roll coated products from facilities located in the Netherlands and the UK.

European Engineered Products—The European Engineered Products segment utilizes aluminum and vinyl extrusions to produce residential windows, doors and shower enclosures. These products are sold to home improvement retailers, distributors and factory‑built “holiday home” builders in the UK. The Company also produces windows used in the operator compartments of heavy equipment, components sold to suppliers of automotive OEMs in Western Europe and RV doors. The Company produces and distributes these engineered products from facilities in France and the UK and has developed extensive in-house manufacturing capabilities, including powder coating, glass cutting, anodizing and glass toughening.

The Company evaluates the performance of its segments and allocates resources to them based primarily on segment income (loss) from operations. Expenses, income and assets that are not segment specific relate to the holding company and business activities conducted for the overall benefit of the Company, and accordingly, are not attributable to the Company’s segments.

The following table presents information about reported segments for the three months ended April 3, 2015:

	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products		Other Non- Allocated			Eliminations			Consolidated
Three months ended April 3, 2015	(in thousands)
Net sales:
Third party	$	56,853	$	65,504		$	46,939	$	16,303	$	—		$	—		$	185,599
Intersegment	191		41			171		—		—			(403		)	—
Total net sales	$	57,044	$	65,545		$	47,110	$	16,303	$	—		$	(403	)	$	185,599
(Loss) income from operations	$	1,725	$	(2,793	)	$	1,623	$	301	$	(4,143	)	$	—		$	(3,287	)
Depreciation and amortization	$	2,648	$	2,456		$	1,822	$	380	$	193		$	—		$	7,499
Capital expenditures	$	461	$	201		$	284	$	249	$	914		$	—		$	2,109

The following table presents information about reported segments for the three months ended March 28, 2014:

	U.S. Residential Products			U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Three months ended March 28, 2014	(in thousands)
Net sales:
Third party	$	45,943		$	57,456		$	49,928	$	16,577		$	—		$	—		$	169,904
Intersegment	179			28			209		—			—			(416		)	—
Total net sales	$	46,122		$	57,484		$	50,137	$	16,577		$	—		$	(416	)	$	169,904
(Loss) income from operations	$	(1,634	)	$	(4,680	)	$	3,929	$	(346	)	$	(2,279	)	$	—		$	(5,010	)
Depreciation and amortization	$	2,733		$	2,542		$	2,353	$	417		$	157		$	—		$	8,202
Capital expenditures	$	339		$	555		$	340	$	163		$	91		$	—		$	1,488

It is impractical for the Company to provide revenues from external customers by groups of similar products. Accordingly, the following table reflects revenues from external customers by markets for the periods indicated:

		Three months ended
Customers/Markets	Primary Products	April 3, 2015		March 28, 2014
		(in thousands)
Original Equipment Manufacturers (“OEMs”)	Painted aluminum sheet and coil; fabricated painted aluminum, laminated and fiberglass panels; windows and roofing; and composite building panels	$	56,608	$	55,735
Home Improvement Retailers	Rain carrying systems, metal panels, roofing accessories, windows, doors and shower enclosures	34,395		30,086
Industrial and Architectural Contractors	Metal panels and siding and roofing accessories	33,221		33,862
Rural Contractors	Steel and aluminum roofing and siding	21,641		18,904
Distributors	Metal coils, rain carrying systems and roofing accessories	19,030		14,299
Home Improvement Contractors	Vinyl replacement windows; metal coils, rain carrying systems; metal roofing and insulated roofing panels; shower, patio and entrance doors; and awnings	11,302		9,145
Manufactured Housing	Steel siding and trim components	9,402		7,873
		$	185,599	$	169,904

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Document Entity Information	3 Months Ended
	Apr. 03, 2015	May 13, 2015
Entity Information
Entity Registrant Name	Euramax Holdings, Inc.
Entity Central Index Key	0001026743
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Apr. 03, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		195,877

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Supplemental Guarantor Condensed Financial Information

3 Months Ended

Apr. 03, 2015

Supplemental Guarantor Condensed Financial Information [Abstract]

Supplemental Guarantor Condensed Financial Information

Supplemental Guarantor Condensed Financial Information

On March 18, 2011, Euramax Holdings (presented as Parent in the following schedules), through its 100% owned subsidiary, Euramax International (presented as Issuer in the following schedules), issued the Notes. The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. No other subsidiaries of Euramax International, whether direct or indirect, guarantee the Notes (the "Non-Guarantor Subsidiaries").

Additionally, the Notes are secured on a second priority basis by liens on all of the collateral (subject to certain exceptions) securing the ABL Credit Facility. In the event that secured creditors exercise remedies with respect to Euramax International's pledged assets, the proceeds of the liquidation of those assets will first be applied to repay obligations secured by the first priority liens under the senior secured credit facilities and any other first priority obligations.

The Indenture contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These limitations also limit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan or otherwise.

The following supplemental condensed consolidating financial statements present the results of operations, comprehensive operations, financial position and cash flows of (1) the Parent, (2) the Issuer, (3) the Non-Guarantor Subsidiaries, and (4) eliminations to arrive at the information for Euramax Holdings on a consolidated basis.

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

APRIL 3, 2015

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1		$	1,867		$	—		$	1,868
Accounts receivable, less allowance for doubtful accounts	—			44,951			43,406			—			88,357
Inventories, net	—			82,166			28,482			—			110,648
Income taxes receivable	—			538			1,359			—			1,897
Deferred income taxes	—			382			42			—			424
Other current assets	—			6,188			1,562			—			7,750
Total current assets	—			134,226			76,718			—			210,944
Property, plant and equipment, net	—			51,230			52,807			—			104,037
Amounts due from affiliates	—			180,183			18,275			(198,458		)	—
Goodwill	—			81,358			99,301			—			180,659
Customer relationships, net	—			15,069			7,685			—			22,754
Other intangible assets, net	—			6,365			—			—			6,365
Investment in consolidated subsidiaries	(198,078		)	(3,955		)	—			202,033			—
Deferred income taxes	—			—			179			—			179
Other assets	—			2,477			1,447			—			3,924
Total assets	$	(198,078	)	$	466,953		$	256,412		$	3,575		$	528,862
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	59,679		$	24,093		$	—		$	83,772
Accrued expenses and other current liabilities	110			14,806			10,149			—			25,065
Accrued interest payable	—			11			74			—			85
Current portion of long-term debt	—			434,826			15,186			—			450,012
Deferred income taxes	—			—			811			—			811
Total current liabilities	110			509,322			50,313			—			559,745
Long-term debt	—			124,408			—			—			124,408
Amounts due to affiliates	5,887			10,811			181,760			(198,458		)	—
Deferred income taxes	—			11,121			2,952			—			14,073
Other liabilities	—			9,369			25,342			—			34,711
Total liabilities	5,997			665,031			260,367			(198,458		)	732,937
Shareholders’ (deficit) equity:
Common stock	196			—			21			(21		)	196
Additional paid-in capital	724,661			661,769			199,452			(861,221		)	724,661
Accumulated loss	(934,440		)	(865,355		)	(214,471		)	1,079,826			(934,440		)
Accumulated other comprehensive income	5,508			5,508			11,043			(16,551		)	5,508
Total shareholders’ (deficit) equity	(204,075		)	(198,078		)	(3,955		)	202,033			(204,075		)
Total liabilities and shareholders’ (deficit) equity	$	(198,078	)	$	466,953		$	256,412		$	3,575		$	528,862

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING BALANCE SHEETS

DECEMBER 31, 2014
(in thousands)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	4		$	2,070		$	—		$	2,074
Accounts receivable, less allowance for doubtful accounts	—			39,607			40,722			—			80,329
Inventories, net	—			75,512			30,873			—			106,385
Income taxes receivable	—			235			1,499			—			1,734
Deferred income taxes	—			381			45			—			426
Other current assets	—			5,425			1,584			—			7,009
Total current assets	—			121,164			76,793			—			197,957
Property, plant and equipment, net	—			53,042			58,122			—			111,164
Amounts due from affiliates	—			202,008			19,277			(221,285		)	—
Goodwill	—			81,359			108,799			—			190,158
Customer relationships, net	—			16,826			9,489			—			26,315
Other intangible assets, net	—			6,495			—			—			6,495
Investment in consolidated subsidiaries	(167,335		)	(5,318		)	—			172,653			—
Deferred income taxes	—			—			—			—			—
Other assets	—			2,883			1,804			—			4,687
Total assets	$	(167,335	)	$	478,459		$	274,284		$	(48,632	)	$	536,776
LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	49,869		$	28,977		$	—		$	78,846
Accrued expenses and other current liabilities	—			16,284			9,225			—			25,509
Accrued interest payable	—			12,837			75			—			12,912
Current portion of long term debt	—			—			4,663			—			4,663
Deferred income taxes	—			—			895			—			895
Total current liabilities	—			78,990			43,835			—			122,825
Long-term debt	—			534,852			—			—			534,852
Amounts due to affiliates	5,771			11,982			203,532			(221,285		)	—
Deferred income taxes	—			10,468			5,426			—			15,894
Other liabilities	—			9,502			26,809			—			36,311
Total liabilities	5,771			645,794			279,602			(221,285		)	709,882
Shareholders’ (deficit) equity:
Common stock	196			—			21			(21		)	196
Additional paid-in capital	724,562			661,673			199,453			(861,126		)	724,562
Accumulated loss	(903,029		)	(834,173		)	(215,570		)	1,049,743			(903,029		)
Accumulated other comprehensive income	5,165			5,165			10,778			(15,943		)	5,165
Total shareholders’ (deficit) equity	(173,106		)	(167,335		)	(5,318		)	172,653			(173,106		)
Total liabilities and shareholders’ (deficit) equity	$	(167,335	)	$	478,459		$	274,284		$	(48,632	)	$	536,776

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED APRIL 3, 2015
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	121,117		$	66,026		$	(1,544	)	$	185,599
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			106,810			55,321			(1,544		)	160,587
Selling and general (excluding depreciation and amortization)	229			11,901			6,407			—			18,537
Depreciation and amortization	—			5,262			2,237			—			7,499
Other operating charges	—			1,753			510			—			2,263
(Loss) income from operations	(229		)	(4,609		)	1,551			—			(3,287		)
Equity in earnings (losses) of subsidiaries	(31,182		)	1,099			—			30,083			—
Interest expense	—			(13,545		)	(389		)	—			(13,934		)
Intercompany income (loss), net	—			3,780			(3,780		)	—			—
Other (loss) income, net	—			(17,479		)	2,014			—			(15,465		)
Loss before income taxes	(31,411		)	(30,754		)	(604		)	30,083			(32,686		)
(Benefit from) provision for income taxes	—			428			(1,703		)	—			(1,275		)
Net loss	$	(31,411	)	$	(31,182	)	$	1,099		$	30,083		$	(31,411	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED APRIL 3, 2015

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor		Eliminations			Total
Net loss	$	(31,411	)	$	(31,182	)	$	1,099	$	30,083		$	(31,411	)
Other comprehensive income:
Foreign currency translation adjustment	221			221			221		(442		)	221
Defined benefit pension plan adjustments, net of tax	122			122			44		(166		)	122
Total comprehensive loss	$	(31,068	)	$	(30,839	)	$	1,364	$	29,475		$	(31,068	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONSFOR THE THREE MONTHS ENDED MARCH 28, 2014
(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	101,846		$	69,582		$	(1,524	)	$	169,904
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			91,773			56,722			(1,524		)	146,971
Selling and general (excluding depreciation and amortization)	118			12,411			6,247			—			18,776
Depreciation and amortization	—			5,389			2,813			—			8,202
Other operating charges	—			542			423			—			965
(Loss) income from operations	(118		)	(8,269		)	3,377			—			(5,010		)
Equity in earnings (losses) of subsidiaries	(19,154		)	(1,692		)	—			20,846			—
Interest expense	—			(13,407		)	(358		)	—			(13,765		)
Intercompany income (loss), net	—			4,565			(4,565		)	—			—
Other income (loss), net	—			317			(121		)	—			196
Loss before income taxes	(19,272		)	(18,486		)	(1,667		)	20,846			(18,579		)
Provision for income taxes	—			668			25			—			693
Net loss	$	(19,272	)	$	(19,154	)	$	(1,692	)	$	20,846		$	(19,272	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 28, 2014

(in thousands)

(unaudited)

	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(19,272	)	$	(19,154	)	$	(1,692	)	$	20,846		$	(19,272	)
Other comprehensive (loss) income:
Foreign currency translation adjustment	(389		)	(389		)	(389		)	778			(389		)
Defined benefit pension plan adjustments, net of tax	20			20			18			(38		)	20
Total comprehensive loss	$	(19,641	)	$	(19,523	)	$	(2,063	)	$	21,586		$	(19,641	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWSFOR THE THREE MONTHS ENDED APRIL 3, 2015
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash used in operating activities	$	—	$	(25,168	)	$	(7,302	)	$	—		$	(32,470	)
Cash flows from investing activities:
Proceeds from sale of assets	—		43			—			—			43
Capital expenditures	—		(1,563		)	(546		)	—			(2,109		)
Due (to) from affiliates	—		—			(2,478		)	2,478			—
Net cash used in investing activities	—		(1,520		)	(3,024		)	2,478			(2,066		)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	—		24,207			—			—			24,207
Net borrowings on European Credit Facilities	—		—			10,523			—			10,523
Due from (to) affiliates	—		2,478			—			(2,478		)	—
Net cash provided by financing activities	—		26,685			10,523			(2,478		)	34,730
Effect of exchange rate changes on cash	—		—			(400		)	—			(400		)
Net decrease in cash and cash equivalents	—		(3		)	(203		)	—			(206		)
Cash and cash equivalents at beginning of period	—		4			2,070			—			2,074
Cash and cash equivalents at end of period	$	—	$	1		$	1,867		$	—		$	1,868

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWSFOR THE THREE MONTHS ENDED MARCH 28, 2014
(in thousands)

(unaudited)

	Parent		Issuer			Non-Guarantor			Eliminations			Total
Net cash (used in) provided by operating activities	$	—	$	4,233		$	(8,119	)	$	—		$	(3,886	)
Cash flows from investing activities:
Proceeds from sale of assets	—		43			—			—			43
Capital expenditures	—		(976		)	(512		)	—			(1,488		)
Due (to) from affiliates	—		—			(8,616		)	8,616			—
Net cash used in investing activities	—		(933		)	(9,128		)	8,616			(1,445		)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	—		—			14,657			—			14,657
Net repayments on ABL Credit Facility	—		(13,756		)	—			—			(13,756		)
Changes in cash overdrafts	—		236			—			—			236
Debt issuance costs	—		(88		)	—			—			(88		)
Due from (to) affiliates	—		8,616			—			(8,616		)	—
Net cash provided by (used in) financing activities	—		(4,992		)	14,657			(8,616		)	1,049
Effect of exchange rate changes on cash	—		—			(297		)	—			(297		)
Net decrease in cash and cash equivalents	—		(1,692		)	(2,887		)	—			(4,579		)
Cash and cash equivalents at beginning of period	—		1,700			7,277			—			8,977
Cash and cash equivalents at end of period	$	—	$	8		$	4,390		$	—		$	4,398

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Condensed Consolidated Statements of Operations (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Net sales	$ 185,599	$ 169,904
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	160,587	146,971
Selling and general (excluding depreciation and amortization)	18,537	18,776
Depreciation and amortization	7,499	8,202
Other operating charges	2,263	965
Loss from operations	(3,287)	(5,010)
Interest expense	(13,934)	(13,765)
Other (loss) income, net	(15,465)	196
Loss before income taxes	(32,686)	(18,579)
(Benefit from) provision for income taxes	(1,275)	693
Net loss	$ (31,411)	$ (19,272)

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Income Taxes

3 Months Ended

Apr. 03, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The (benefit from) provision for income taxes for 2015 and 2014 is computed at the effective rate expected to be applicable in each respective full year using the statutory rates on a country by country basis applied to current year-to-date pre-tax earnings, adjusted for changes in valuation allowances relating to the Company’s realizability of deferred tax assets and changes in tax uncertainties. The Company's interim income tax rate may differ from its estimated annual effective tax rate because accounting standards require the Company to exclude certain entities expected to generate a pretax loss from the overall computation of the estimated annual effective tax rate, as well as items accounted for in the interim period incurred, which may result in a significant variation in the customary relationship between (benefit from) provision for income taxes and pretax accounting income (loss) in interim reporting periods. The effective rates for the three month periods ended April 3, 2015 and March 28, 2014 were a benefit of 3.9% and a provision of 3.7%, respectively.

The effective rate for the three months ended April 3, 2015 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, geographical mix of earnings, changes in estimated uncertain tax positions, and recognition of valuation allowances related to losses in the UK and in U.S. federal and state jurisdictions.

The effective rate for the three months ended March 28, 2014 differed from the U.S. statutory rate primarily due to state income taxes, lower tax rates of our foreign operations compared to the U.S. federal rates, geographical mix of earnings, and recognition of valuation allowances related to losses in the UK and in U.S. federal and state jurisdictions.

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Commitments and Contingencies

3 Months Ended

Apr. 03, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Raw Material Commitments

The Company’s primary raw materials are aluminum and steel coil. Because changes in aluminum and steel prices are generally passed through to customers, increases or decreases in aluminum and steel prices generally cause corresponding increases and decreases in reported net sales, causing fluctuations in reported revenues that are unrelated to the level of business activity. However, if the Company is unable to pass through aluminum and steel price increases to customers in the future, its business and results of operations could be materially adversely affected. Although the Company believes there is sufficient supply in the marketplace to competitively source all of its aluminum and steel needs without reliance on any particular supplier, any major disruption in the supply and/or price of aluminum and steel could have a material adverse effect on the Company’s business and financial condition.

To ensure a margin on specific customer orders, the Company may commit to purchase aluminum ingot or coil at a fixed market price for future delivery. These contracts are for normal purchases and sales, and therefore, are not required to be accounted for as derivatives.

Litigation

The Company is currently party to legal proceedings that have arisen in the ordinary course of business. The Company has and will continue to vigorously defend itself in these matters. It is the opinion of the Company’s management, based upon information available at this time, that the expected outcome of all matters to which the Company is currently a party would not reasonably be expected to have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Company.

Environmental Matters

The Company’s operations are subject to U.S., Canadian, and European federal, state, and local environmental laws and regulations, including those concerning the management of pollution and hazardous substances.

In connection with the acquisition of the Company from Alumax Inc. (which was acquired by Aluminum Company of America in May 1998, and hereafter referred to as Alumax) on September 25, 1996, the Company was indemnified by Alumax for substantially all of its costs, if any, related to specifically identified environmental matters arising prior to the closing date of the acquisition during the period of time it was owned directly or indirectly by Alumax. Such indemnification includes costs that may ultimately be incurred to contribute to the remediation of eleven specified existing National Priorities List (NPL) sites for which the Company had been named a potentially responsible party under the federal Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) as of the closing date of the acquisition from Alumax, as well as certain potential costs for nine sites to which the Company may have sent waste for disposal. The Company does not believe that it has any significant probable liability for environmental claims. Further, the Company believes it to be unlikely that the Company would be required to bear environmental costs in excess of its pro rata share of such costs as a potentially responsible party at any site. Any receivable for recoveries under the indemnification would be recorded separately from the corresponding liability when the environmental claim and related recovery is determined to be probable. In addition, the Company establishes reserves for remedial measures required from time to time at its facilities. Management believes that the reasonably probable outcomes of these matters will not be material. The Company’s reserves, expenditures, and expenses for all environmental exposures were not significant as of any of the dates or for any of the periods presented.

Product Warranties

The Company provides warranties on certain products. The warranty periods differ depending on the product, but generally range from one year to limited lifetime warranties. The Company provides for warranties based on historical experience and expectations of future occurrence. Changes in the product warranty accrual are summarized as follows:

	Three months ended
	April 3, 2015			March 28, 2014
	(in thousands)
Balance, beginning of period	$	3,970		5,326
Payments made or service provided	(520		)	(621		)
Warranty expense	467			682
Foreign currency translation	(97		)	2
Balance, end of period	$	3,820		$	5,389

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Commitments and Contingencies (Tables)

3 Months Ended

Apr. 03, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability

Changes in the product warranty accrual are summarized as follows:

	Three months ended
	April 3, 2015			March 28, 2014
	(in thousands)
Balance, beginning of period	$	3,970		5,326
Payments made or service provided	(520		)	(621		)
Warranty expense	467			682
Foreign currency translation	(97		)	2
Balance, end of period	$	3,820		$	5,389

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Basis of Presentation and Principles of Consolidation (Policies)

3 Months Ended

Apr. 03, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Accounting, Policy

The accompanying unaudited condensed consolidated financial statements of Euramax Holdings, Inc. and its subsidiaries (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not include all information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, these statements include all adjustments considered necessary for the fair presentation of all interim periods reported herein. All adjustments are of a normal recurring nature unless otherwise disclosed.

Fiscal Period, Policy

Each of our interim reporting periods, other than the fourth interim reporting period, ends on the Friday closest to the last day of the corresponding quarterly calendar period. The first quarter of 2015 and 2014 ended on April 3 and March 28, respectively. The first quarter of 2015 contains 6 additional days compared to the first quarter of 2014. Our fourth interim reporting period and our fiscal year end on December 31 regardless of the day of the week on which it falls.

Income Tax, Policy

The (benefit from) provision for income taxes for 2015 and 2014 is computed at the effective rate expected to be applicable in each respective full year using the statutory rates on a country by country basis applied to current year-to-date pre-tax earnings, adjusted for changes in valuation allowances relating to the Company’s realizability of deferred tax assets and changes in tax uncertainties.

Pension and Other Postretirement Plans, Pensions, Policy

The Company maintains a non-contributory defined benefit pension plan covering substantially all U.S. hourly employees (the "U.S. Plan"). In addition, the employees at Euramax Coated Products Limited and Ellbee Limited participate in a single employer pension plan (the "UK Plan"). The measurement date for the U.S. and UK plans is the last day of the fiscal year. The Company curtailed the accrual of participant benefits provided under the UK Plan effective March 31, 2009. This curtailment did not affect the timing for the payment of benefits earned under the UK Plan through the curtailment date. In January 2010, the Company's board of directors approved a motion to freeze future benefit accruals under the U.S. Plan.

Fair Value Measurement, Policy

The carrying amounts of cash and cash equivalents, receivables, accounts payable and accrued expenses, and loans and notes payable approximate their fair values because of the relatively short-term maturities of these instruments.

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a nonrecurring basis as required by accounting principles generally accepted in the U.S. Typically, adjustments made to record assets at fair value on a nonrecurring basis are the result of impairment charges.

Recurring Fair Value Measurements

In accordance with accounting principles generally accepted in the U.S., certain assets and liabilities are required to be recorded at fair value on a recurring basis. For the Company, the only assets and liabilities that are adjusted to fair value on a recurring basis are derivative financial instruments.

New Accounting Pronouncements, Policy

In April 2015, the FASB issued new guidance related to the presentation of debt issuance costs. The guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. For public business entities, the guidance is effective for annual and interim periods beginning after December 15, 2015, and is to be applied retrospectively. Early adoption is permitted. The Company is currently assessing the impact of implementing this guidance on the Company's financial position, results of operations, and cash flows.

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Fair Value Measurements

3 Months Ended

Apr. 03, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

Recurring Fair Value Measurements

In accordance with accounting principles generally accepted in the U.S., certain assets and liabilities are required to be recorded at fair value on a recurring basis. For the Company, the only assets and liabilities that are adjusted to fair value on a recurring basis are derivative financial instruments.

Derivative Financial Instruments

The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company's financial performance and are referred to as "market risks." The Company, when deemed appropriate, uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risk managed by the Company through the use of derivative instruments is foreign currency exchange rate risk related to intercompany interest payments. The Company does not enter into derivative contracts for trading purposes.

The Company has entered into forward contracts to buy or sell a quantity of a currency at a predetermined future date, and at a predetermined rate or price to mitigate uncertainty and volatility, and to cover underlying exposures to certain payments in currencies other than the functional currency. The Company has not designated these contracts for hedge accounting treatment and, therefore, the gains and losses on these contracts are recorded in other (loss) income, net in the condensed consolidated statement of operations. For the three months ended April 3, 2015, the Company recognized gains of $0.8 million. For the three months ended March 28, 2014, the losses related to these forward contracts were not significant.

Derivatives are carried at fair value in the condensed consolidated balance sheet in the line item other current assets or accrued liabilities, as applicable. As of April 3, 2015, the fair value of outstanding derivatives was not significant. For December 31, 2014, the fair value of outstanding derivatives totaled approximately $0.5 million in the line item other current assets. The fair value of foreign exchange contracts is determined using quoted prices for similar contracts obtained from financial institutions and is classified as a Level 2 measurement in the fair value hierarchy.

Nonrecurring Fair Value Measurements

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a nonrecurring basis as required by accounting principles generally accepted in the U.S. Typically, adjustments made to record assets at fair value on a nonrecurring basis are the result of impairment charges.

The Company did not record any impairment charges related to assets measured at fair value on a nonrecurring basis during the three months ended April 3, 2015 or March 28, 2014.

Other Fair Value Disclosures

The carrying amounts of cash and cash equivalents, receivables, accounts payable and accrued expenses, and loans and notes payable approximate their fair values because of the relatively short-term maturities of these instruments.

The fair value of the Notes, included on the consolidated balance sheets in current portion of long-term debt as of April 3, 2015 and long-term debt as of December 31, 2014, is estimated using Level 2 inputs based on dealer quoted prices for the debt instruments based on recent transactions obtained from various sources. As of April 3, 2015, the carrying amount and fair value of the Notes, were $375.0 million and $355.7 million, respectively. As of December 31, 2014, the carrying amount and fair value of the Notes, were $375.0 million and $346.9 million, respectively.

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Accumulated Other Comprehensive Income

3 Months Ended

Apr. 03, 2015

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

Changes in accumulated other comprehensive income (loss) by component for the three month period ended April 3, 2015 were as follows:

	Foreign Currency Translation Adjustments		Defined Benefit Pension Plan Adjustments			Total
	(in thousands)
Balance, beginning of period	$	19,557	$	(14,392	)	$	5,165
Other comprehensive income before reclassifications	221		—			221
Amounts reclassified from accumulated other comprehensive income	—		122			122
Net other comprehensive income	221		122			343
Balance, end of period	$	19,778	$	(14,270	)	$	5,508

Amounts reclassified from the defined benefit pension plan adjustments component of accumulated other comprehensive income (loss) were recorded in selling and general expenses within the condensed consolidated statement of operations. There were no net tax effects related to the reclassification as a result of the full valuation allowances in the U.S. and UK in the current year. The accumulated tax effect related to the defined benefit pension plan adjustments component of accumulated other comprehensive income (loss) was a provision of $0.3 million as of April 3, 2015 and December 31, 2014. There are no tax impacts related to the foreign currency translation adjustment component of accumulated other comprehensive income (loss) as the earnings of subsidiaries are considered to be permanently invested.

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Employee Benefit Plans

3 Months Ended

Apr. 03, 2015

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Retirement Plans

The Company maintains a non-contributory defined benefit pension plan covering substantially all U.S. hourly employees (the "U.S. Plan"). In addition, the employees at Euramax Coated Products Limited and Ellbee Limited participate in a single employer pension plan (the "UK Plan"). The measurement date for the U.S. and UK plans is the last day of the fiscal year. The Company curtailed the accrual of participant benefits provided under the UK Plan effective March 31, 2009. This curtailment did not affect the timing for the payment of benefits earned under the UK Plan through the curtailment date. In January 2010, the Company's board of directors approved a motion to freeze future benefit accruals under the U.S. Plan. The impact on the Company's projected benefit obligation was not significant. Components of net periodic pension cost for the Company’s defined and multiemployer pension plans were as follows:

	Three months ended
	April 3, 2015						March 28, 2014
	U.S. Plan			UK Plan			U.S. Plan			UK Plan
	(in thousands)
Service cost	$	20		$	—		$	14		$	—
Interest cost	145			440			140			552
Expected return on assets	(189		)	(392		)	(186		)	(466		)
Recognized actuarial net loss	78			44			2			18
Total defined benefit net periodic pension cost	54			92			(30		)	104
Multiemployer benefit expense	272			—			258			—
Net periodic pension cost	$	326		$	92		$	228		$	104

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Other Operating Charges

3 Months Ended

Apr. 03, 2015

Component Of Other Operating Cost And Expense [Abstract]

Other Operating Charges

Other Operating Charges

Other operating charges incurred by operating segment were as follows:

	Three months ended
	April 3, 2015		March 28, 2014
	(in thousands)
U.S. Residential Products	$	—	$	108
U.S. Commercial Products	—		30
European Roll Coated Aluminum	268		—
European Engineered Products	242		423
Other non-allocated	1,753		404
Total other operating charges	$	2,263	$	965

For the three months ended April 3, 2015, other operating charges of $2.3 million were primarily comprised of retention costs, severance costs, and legal and professional fees. In the first quarter of 2015, Euramax Holdings instituted a retention compensation program for certain key executives in both North America and Europe to ensure the continuation of operational and strategic initiatives implemented in 2014, which the Company believes have resulted in significant improvements to the Company's operating results, and to secure the management team of the Company to address its pending debt maturities in the first quarter of 2016. Other non-allocated charges of $1.8 million were comprised of retention costs of $0.8 million, professional fees of $0.7 million, and severance costs of $0.3 million. Other operating charges in the European Coated Products segment totaled $0.3 million and were comprised primarily of executive retention costs. The remaining $0.2 million was primarily related to continuing restructuring initiatives in the European Engineered Products segment.

For the three months ended March 28, 2014, other operating charges of $1.0 million were primarily comprised of severance costs and legal and professional fees. Other non-allocated charges of $0.4 million were related to legal and professional fees for consulting services during the executive transition period. Ongoing restructuring initiatives in the European Engineered Products segment totaled $0.4 million, including approximately $0.3 million of severance costs in the UK and $0.1 million of severance costs for various social programs in France. The remaining $0.1 million of other operating costs in the three quarter of 2014 related to various organizational initiatives in the U.S. to reduce operating costs and improve efficiencies.

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Indebtedness - Senior Secured Notes (Details) (USD $) In Thousands, unless otherwise specified	0 Months Ended
	Mar. 18, 2011	Apr. 03, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Subsidiary ownership percentage		100.00%
Current portion of long-term debt		$ 450,012	$ 4,663
Senior notes | Senior Secured Notes (9.50%)
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	9.50%
Current portion of long-term debt	375,000	$ 375,000
Senior notes | Senior Secured Notes (9.50%) | Change of control
Debt Instrument [Line Items]
Prepayment redemption price percentages	101.00%
Senior notes | Senior Secured Notes (9.50%) | 2013
Debt Instrument [Line Items]
Prepayment redemption price percentages	107.125%
Senior notes | Senior Secured Notes (9.50%) | 2014
Debt Instrument [Line Items]
Prepayment redemption price percentages	104.75%
Senior notes | Senior Secured Notes (9.50%) | 2015 and thereafter
Debt Instrument [Line Items]
Prepayment redemption price percentages	100.00%
Line of credit | Senior Secured Notes (9.50%)
Debt Instrument [Line Items]
Foreign restricted subsidiaries, percent of voting capital stock, collateral	65.00%
Foreign restricted subsidiaries, percent of non-voting capital stock, collateral	100.00%

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Inventories (Tables)

3 Months Ended

Apr. 03, 2015

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories were comprised of:

	April 3, 2015		December 31, 2014
	(in thousands)
Aluminum and steel coil	$	71,270	$	72,587
Raw materials	19,829		16,427
Work in process	2,481		2,467
Finished products	17,068		14,904
Total inventories, net	$	110,648	$	106,385

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Other Operating Charges (Tables)

3 Months Ended

Apr. 03, 2015

Component Of Other Operating Cost And Expense [Abstract]

Other Operating Charges

Other operating charges incurred by operating segment were as follows:

	Three months ended
	April 3, 2015		March 28, 2014
	(in thousands)
U.S. Residential Products	$	—	$	108
U.S. Commercial Products	—		30
European Roll Coated Aluminum	268		—
European Engineered Products	242		423
Other non-allocated	1,753		404
Total other operating charges	$	2,263	$	965

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Supplemental Guarantor Condensed Financial Information - Consolidated Statements of Cash Flows (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	$ (32,470)	$ (3,886)
Cash flows from investing activities:
Proceeds from sale of assets	43	43
Capital expenditures	(2,109)	(1,488)
Due (to) from affiliates	0	0
Net cash used in investing activities	(2,066)	(1,445)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	24,207
Net borrowings on European Credit Facilities	10,523	14,657
Net borrowings on Dutch Revolving Credit Facility		14,657
Repayments of Lines of Credit		(13,756)
Changes in cash overdrafts	0	236
Debt issuance costs	0	(88)
Due from (to) affiliates	0	0
Net cash provided by (used in) financing activities	34,730	1,049
Effect of exchange rate changes on cash	(400)	(297)
Net decrease in cash and cash equivalents	(206)	(4,579)
Cash and cash equivalents at beginning of period	2,074	8,977
Cash and cash equivalents at end of period	1,868	4,398
Parent
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	0	0
Cash flows from investing activities:
Proceeds from sale of assets	0	0
Capital expenditures	0	0
Due (to) from affiliates	0	0
Net cash used in investing activities	0	0
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	0
Net borrowings on European Credit Facilities	0
Net borrowings on Dutch Revolving Credit Facility		0
Repayments of Lines of Credit		0
Changes in cash overdrafts		0
Debt issuance costs		0
Due from (to) affiliates	0	0
Net cash provided by (used in) financing activities	0	0
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(25,168)	4,233
Cash flows from investing activities:
Proceeds from sale of assets	43	43
Capital expenditures	(1,563)	(976)
Due (to) from affiliates	0	0
Net cash used in investing activities	(1,520)	(933)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	24,207
Net borrowings on European Credit Facilities	0
Net borrowings on Dutch Revolving Credit Facility		0
Repayments of Lines of Credit		(13,756)
Changes in cash overdrafts		236
Debt issuance costs		(88)
Due from (to) affiliates	2,478	8,616
Net cash provided by (used in) financing activities	26,685	(4,992)
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	(3)	(1,692)
Cash and cash equivalents at beginning of period	4	1,700
Cash and cash equivalents at end of period	1	8
Non-Guarantor
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	(7,302)	(8,119)
Cash flows from investing activities:
Proceeds from sale of assets	0	0
Capital expenditures	(546)	(512)
Due (to) from affiliates	(2,478)	(8,616)
Net cash used in investing activities	(3,024)	(9,128)
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	0
Net borrowings on European Credit Facilities	10,523
Net borrowings on Dutch Revolving Credit Facility		14,657
Repayments of Lines of Credit		0
Changes in cash overdrafts		0
Debt issuance costs		0
Due from (to) affiliates	0	0
Net cash provided by (used in) financing activities	10,523	14,657
Effect of exchange rate changes on cash	(400)	(297)
Net decrease in cash and cash equivalents	(203)	(2,887)
Cash and cash equivalents at beginning of period	2,070	7,277
Cash and cash equivalents at end of period	1,867	4,390
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash used in operating activities	0	0
Cash flows from investing activities:
Proceeds from sale of assets	0	0
Capital expenditures	0	0
Due (to) from affiliates	2,478	8,616
Net cash used in investing activities	2,478	8,616
Cash flows from financing activities:
Net borrowings on ABL Credit Facility	0
Net borrowings on European Credit Facilities	0
Net borrowings on Dutch Revolving Credit Facility		0
Repayments of Lines of Credit		0
Changes in cash overdrafts		0
Debt issuance costs		0
Due from (to) affiliates	(2,478)	(8,616)
Net cash provided by (used in) financing activities	(2,478)	(8,616)
Effect of exchange rate changes on cash	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0

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Employee Benefit Plans (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 20	$ 14
Interest cost	145	140
Expected return on assets	(189)	(186)
Recognized actuarial net loss	78	2
Total defined benefit net periodic pension cost	54	(30)
Multiemployer benefit expense	272	258
Net periodic pension cost	326	228
UK Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	440	552
Expected return on assets	(392)	(466)
Recognized actuarial net loss	44	18
Total defined benefit net periodic pension cost	92	104
Multiemployer benefit expense	0	0
Net periodic pension cost	$ 92	$ 104

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Condensed Consolidated Statements of Comprehensive Loss (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Apr. 03, 2015	Mar. 28, 2014
Net loss	$ (31,411)	$ (19,272)
Other comprehensive income (loss):
Foreign currency translation adjustment	221	(389)
Defined benefit pension plan adjustments	122	20
Total comprehensive loss	$ (31,068)	$ (19,641)

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Indebtedness

3 Months Ended

Apr. 03, 2015

Debt Disclosure [Abstract]

Indebtedness

Indebtedness

Indebtedness consisted of the following:

	April 3, 2015		December 31, 2014
	(in thousands)
Senior Secured Notes (9.50%)	$	375,000	$	375,000
Senior Unsecured Loan Facility (12.25%)	124,408		124,233
ABL Credit Facility	59,826		35,619
Dutch Revolving Credit Facility	14,163		3,532
French Credit Facility	1,023		1,131
Total debt	574,420		539,515
Less: current portion	450,012		4,663
Total long term debt	$	124,408	$	534,852

Senior Secured Notes

The Notes consist of an aggregate principal amount of $375 million, which were issued pursuant to an indenture (the "Indenture"), dated March 18, 2011, among Euramax International, Inc. ("Euramax International"), Euramax Holdings, Inc. ("Euramax Holdings"), and certain of its domestic subsidiaries as guarantors, and Wells Fargo Bank, National Association, the Trustee.The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International. The Notes bear interest at 9.50% per year and mature on April 1, 2016, unless earlier redeemed or repurchased by Euramax International. Interest is payable semi-annually on April 1 and October 1 of each year.

The Notes are secured by a first priority security interest in (i) substantially all of the assets of Euramax International and the guarantors (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International's capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a guarantor and 65% of the voting capital stock and 100% of any non-voting capital stock of foreign restricted subsidiaries directly owned by Euramax International or a guarantor, and a second priority security interest in the inventory, receivables and related assets.

The Notes may be redeemed at the option of Euramax International, in whole or in part, under the conditions specified in the Indenture, at the following redemption prices plus accrued and unpaid interest to the redemption date if redeemed during the twelve-month period beginning on April 1 of the years indicated:

Year	Percentage
2013	107.125	%
2014	104.750	%
2015 and thereafter	100.000	%

The Indenture contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants. These restrictive covenants also prohibit Euramax International's ability to transfer cash or assets to Euramax Holdings, whether by dividend, loan or otherwise. The Indenture also contains customary events of default. If Euramax International undergoes a change of control (as defined in the Indenture), Euramax International will be required to make an offer to repurchase the Notes at 101% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to the date of redemption. As of April 3, 2015, Euramax International is in compliance with the covenants under the Indenture.

As discussed in Note 2, the $375 million outstanding under the Notes has been reclassified from long-term debt to current liabilities as of April 3, 2015.

Senior Unsecured Loan Facility

On March 3, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries entered into a credit and guaranty agreement for a senior unsecured loan facility (the "Senior Unsecured Loan Facility") in the aggregate principal amount of $125 million. The Senior Unsecured Loan Facility was issued at 98% of par on March 18, 2011 and matures on October 1, 2016.The difference between the consideration received and the aggregate face amount ($0.6 million) is being amortized and recorded in interest expense using the effective interest rate method over the term. The Senior Unsecured Loan Facility bears interest at 12.25% per year in the event no election is made to pay interest in kind (PIK), and 14.25% (7.875% cash pay and 6.375% PIK) per year in the event a PIK election is made. Euramax International may make a PIK election for up to six quarters during the term of the Senior Unsecured Loan Facility. The interest rate on outstanding borrowings at April 3, 2015 was 12.25% as Euramax International has not made a PIK election.

Euramax International may prepay outstanding amounts under the Senior Unsecured Loan Facility, in whole or in part, at the prices (expressed as percentages of the loans) set forth below:

Prepayment Date	Percentage
On or after the second anniversary of the closing but prior to the third anniversary thereof	103	%
On or after the third anniversary of the closing but prior to the fourth anniversary thereof	102	%
On or after the fourth anniversary of the closing	100	%

Upon a change of control, Euramax International may be required to prepay all or a portion of the Senior Unsecured Loan Facility at a price equal to 101% of the principal amount plus accrued and unpaid interest.All obligations under the Senior Unsecured Loan Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and substantially all of Euramax International's existing and future direct and indirect 100% owned domestic material restricted subsidiaries.

The Senior Unsecured Loan Facility contains restrictive covenants that limit, among other things, the ability of Euramax International and certain of its subsidiaries to incur additional indebtedness, pay dividends and make certain distributions, make other restricted payments, make investments, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates, in each case, subject to exclusions, and other customary covenants.

The Senior Unsecured Loan Facility contains certain customary representations and warranties, affirmative covenants and events of default, including among other things, payment defaults, covenant defaults, cross‑defaults to certain indebtedness, certain events of bankruptcy, material judgments, and failure of any guaranty supporting the Senior Unsecured Loan Facility to be in force and effect in any material respect. If such an event of default occurs, the administrative agent would be entitled to take various actions, including the acceleration of amounts due under the Senior Unsecured Loan Facility and all actions permitted to be taken by an unsecured creditor. As of April 3, 2015, Euramax International is in compliance with the covenants undet the Credit and Guaranty Agreement governing the Senior Unsecured Loan Facility.

ABL Credit Facility

On March 18, 2011, Euramax Holdings, Euramax International, and certain of its domestic subsidiaries, entered into the ABL Credit Facility with Regions Bank, as Collateral and Administrative Agent, Wells Fargo Capital Finance, LLC, as Co-Collateral Agent, and Regions Business Capital, as Sole Lead Arranger and Bookrunner. The ABL Credit Facility provides for revolving credit financing of up to $70 million, subject to borrowing base availability and matures on March 1, 2018. However, if the Administrative Agent has not received on or before December 31, 2015, evidence satisfactory to such agent that the scheduled maturity dates of the indebtedness arising under the Indenture and the Senior Unsecured Loan Facility, in each case, have been extended to a date that is at least 90 days after March 1, 2018, then the maturity date for the ABL Credit Facility will accelerate to January 31, 2016. In March 2014, Wells Fargo Capital Finance, LLC ceased to be Co-Collateral Agent and a Lender under the ABL Credit Facility. As of April 3, 2015, $10.2 million was available to be drawn on the ABL Credit Facility.

Borrowings under the ABL Credit Facility bear interest at a rate per annum equal to either (a) LIBOR plus an applicable margin or (b) a Base Rate determined by reference to the highest of (1) the prime commercial lending rate published by Regions Bank as its “prime rate” for commercial loans, (2) the federal funds effective rate plus 0.50% and (3) the one-month LIBOR plus 1.00%, plus an applicable margin. The applicable margin is dependent upon the type of borrowings Euramax International has made under the ABL Credit Facility. As of April 3, 2015, the applicable margins are subject to Euramax International’s Average Excess Availability Percentage for the most recently ended fiscal quarter and range from 1.75% to 2.25% for LIBOR borrowings and 1.00% to 1.25% for Base Rate borrowings. The weighted average interest rate at April 3, 2015, including the applicable margin payable on outstanding borrowings under the ABL Credit Facility, was 2.25%. The ABL Credit Facility requires Euramax International to pay a commitment fee ranging from 0.375% to 0.5%, based on the unutilized commitments. Euramax International is also required to pay customary letter of credit fees, including, without limitation, a letter of credit fee equal to the applicable margin on revolving credit LIBOR loans and fronting fees.

All obligations under the ABL Credit Facility are unconditionally guaranteed by Euramax Holdings, Euramax International, and Amerimax Richmond Company, a 100% owned domestic subsidiary of Euramax International, and any future direct and indirect 100% owned domestic restricted subsidiaries which are not borrowers. All obligations under the ABL Credit Facility are secured, subject to certain exceptions, by a first‑priority security interest in Euramax International’s and the Guarantors’ inventory and accounts receivable and related assets (the "ABL Collateral"), and a junior‑priority security interest in (i) substantially all of Euramax International’s and the Guarantors’ assets (other than inventory and accounts receivable and related assets, which assets secure the ABL Credit Facility on a first priority basis) and (ii) all of Euramax International’s capital stock and the capital stock of each material domestic restricted subsidiary owned by Euramax International or a Guarantor and 65% of the voting capital stock and 100% of any non-voting capital stock of foreign restricted subsidiaries directly owned by Euramax International or a Guarantor, which we refer to collectively as the Notes Collateral.

The ABL Credit Facility contains affirmative and negative covenants customary for this type of financing, including, but not limited to certain financial covenants in the event excess availability is less than 12.5% of the lesser of the aggregate amount of commitments outstanding at such time and the borrowing base. As of April 3, 2015, excess availability exceeded 12.5% of the borrowing base; therefore, Euramax International was not required to meet the minimum consolidated fixed charge coverage ratio. Additionally, restrictive covenants limit the ability of Euramax International and certain of its subsidiaries to incur liens, incur, assume or permit to exist additional indebtedness, guarantees and other contingent obligations, consolidate, merge or sell all or substantially all of their assets, pay dividends or make other distributions, make certain loans and investments, amend or otherwise alter the terms of documents related to certain of their indebtedness, enter into transactions with affiliates and prepay certain indebtedness, in each case, subject to exclusions, and other customary covenants. As of April 3, 2015, Euramax International is in compliance with the covenants under the credit agreement governing the ABL Credit Facility.

On February 6, 2015 and March 23, 2015, Euramax Holding entered into the Ninth and Tenth Amendments (the “Amendments”), respectively, to the ABL Credit Facility. Borrowings under the revolving credit facility made available pursuant to the ABL Credit Facility are subject to a borrowing base limit and satisfaction of certain conditions. The borrowing base for the existing revolving credit facility includes, subject to notice by the Company and the satisfaction of certain other specified conditions, three mutually exclusive seasonal overadvance amounts, “Seasonal Overadvance (Type A)” in the amount of $15.0 million, “Seasonal Overadvance (Type B)” in the amount of $9.0 million and “Seasonal Overadvance (Type C)” in the amount of $6.0 million. Pursuant to the Amendments, the Company requested the addition of the “Seasonal Overadvance (Type B)” amount to the borrowing base, and the ABL Credit Facility was amended to, among other items, (i) provide for alternate conditions for the “Seasonal Overadvance (Type B)” amount, which will only apply during a specified period in fiscal year 2015, as further described below, (ii) condition availability of the “Seasonal Overadvance (Type A)” amount on the continued satisfaction of the applicable overadvance conditions relating thereto, as further described below, and (iii) amend the financial covenants to, among other things, change certain of the conditions governing when such financial covenants are applicable.

Pursuant to the Amendments, if the “Seasonal Overadvance (Type B)” conditions are not satisfied at any time during the period from January 26, 2015 through May 31, 2015, then the alternate “Seasonal Overadvance (Type B)” conditions shall apply instead during such period. Pursuant to the alternate “Seasonal Overadvance (Type B)” conditions, inclusion of the alternate “Seasonal Overadvance (Type B)” amount in the borrowing base shall be subject to, among other conditions, (i) the Company's demonstrating compliance with (A) a U.S. fixed charge coverage ratio for the most recently ended twelve-month test period of 0.85 to 1.00 and (B) a specified minimum consolidated adjusted EBITDA covenant for the most recently ended twelve-month period of $52.0 million, (ii) payment of a fee equal to 0.2% of the applicable seasonal overadvance amount (the “Seasonal Overadvance Fee) and (iii) other customary conditions.

In addition, the Amendments amended the ABL Credit Facility to condition availability of the “Seasonal Overadvance (Type A)” amount in the borrowing base on the continued compliance with the applicable overadvance conditions for such amount. Under the ABL Credit Facility the “Seasonal Overadvance (Type A)” amount is available to the Company from February 1 of each year through June 30 for calendar year 2015 and through May 31 of any other year (each, a “Type A Period”), subject to among other conditions (i) the Company's demonstrating compliance with a fixed charge coverage ratio covenant of 1.00 to 1.00, (ii) payment of the Seasonal Overadvance Fee (except to the extent already paid during such calendar year), (iii) other customary conditions and (iv) pursuant to the Amendments, continued compliance with the foregoing eligibility requirements with respect to any Type A Period, with the “Type A” seasonal overadvance amount being reduced to zero at any time such conditions fail to be satisfied during such Type A Period.

The Amendments also (i) provide for the suspension of the testing of the fixed charge coverage ratio financial covenant in the ABL Credit Facility that is otherwise applicable during certain financial covenant testing periods at any time when the regular “Seasonal Overadvance (Type B)” conditions or the “Seasonal Overadvance (Type C)” conditions are satisfied, and (ii) provides for the suspension of the testing of the minimum consolidated adjusted EBITDA covenant that is otherwise applicable during certain financial covenant testing periods at any time when the regular “Seasonal Overadvance (Type B)” conditions and the “Seasonal Overadvance (Type C)” conditions are not satisfied.

Dutch Revolving Credit Facility

In February 2012, the Company's 100% owned subsidiary Euramax Coated Products, BV entered into a revolving credit facility with Rabobank Roermond (the "Dutch Revolving Credit Facility"). The Dutch Revolving Credit Facility provides revolving credit financing of up to EUR 15 million and matures on April 1, 2016. Borrowings under the Dutch Revolving Credit Facility bear interest at a rate per annum which is the aggregate of the average one month Euribor rate over a calendar month plus a margin of 2% and requires payment of a commitment fee of 0.35% per annum on the nominal amount of the credit facility. The weighted average interest rate at April 3, 2015, including the margin payable on outstanding borrowings under the Dutch Revolving Credit Facility, was 2.25%. All obligations under the Dutch Revolving Credit Facility are secured by a mortgage on the real estate of Euramax Coated Products, BV and a pledge on present and future machinery and present and future accounts receivable balances of Euramax Coated Products, BV. At April 3, 2015, $2.3 million (EUR 2.1 million) was available to be drawn on the Dutch Revolving Credit Facility.

The Dutch Revolving Credit Facility contains financial and non-financial covenants customary for this type of financing. Financial covenants include, but are not limited to, a minimum annual EBITDA target and a minimum amount of risk-bearing capital for Euramax Coated Products, BV, both measured at the Company's fiscal year-end. The Dutch Revolving Credit Facility also contains a clause limiting further indebtedness. As of April 3, 2015, Euramax Coated Products, BV is in compliance with the covenants under the credit agreement governing the Dutch Credit Facility.

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Segment Information (Tables)

3 Months Ended

Apr. 03, 2015

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table presents information about reported segments for the three months ended April 3, 2015:

	U.S. Residential Products		U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products		Other Non- Allocated			Eliminations			Consolidated
Three months ended April 3, 2015	(in thousands)
Net sales:
Third party	$	56,853	$	65,504		$	46,939	$	16,303	$	—		$	—		$	185,599
Intersegment	191		41			171		—		—			(403		)	—
Total net sales	$	57,044	$	65,545		$	47,110	$	16,303	$	—		$	(403	)	$	185,599
(Loss) income from operations	$	1,725	$	(2,793	)	$	1,623	$	301	$	(4,143	)	$	—		$	(3,287	)
Depreciation and amortization	$	2,648	$	2,456		$	1,822	$	380	$	193		$	—		$	7,499
Capital expenditures	$	461	$	201		$	284	$	249	$	914		$	—		$	2,109

The following table presents information about reported segments for the three months ended March 28, 2014:

	U.S. Residential Products			U.S. Commercial Products			European Roll Coated Aluminum		European Engineered Products			Other Non- Allocated			Eliminations			Consolidated
Three months ended March 28, 2014	(in thousands)
Net sales:
Third party	$	45,943		$	57,456		$	49,928	$	16,577		$	—		$	—		$	169,904
Intersegment	179			28			209		—			—			(416		)	—
Total net sales	$	46,122		$	57,484		$	50,137	$	16,577		$	—		$	(416	)	$	169,904
(Loss) income from operations	$	(1,634	)	$	(4,680	)	$	3,929	$	(346	)	$	(2,279	)	$	—		$	(5,010	)
Depreciation and amortization	$	2,733		$	2,542		$	2,353	$	417		$	157		$	—		$	8,202
Capital expenditures	$	339		$	555		$	340	$	163		$	91		$	—		$	1,488

Revenue from External Customers by Market

It is impractical for the Company to provide revenues from external customers by groups of similar products. Accordingly, the following table reflects revenues from external customers by markets for the periods indicated:

		Three months ended
Customers/Markets	Primary Products	April 3, 2015		March 28, 2014
		(in thousands)
Original Equipment Manufacturers (“OEMs”)	Painted aluminum sheet and coil; fabricated painted aluminum, laminated and fiberglass panels; windows and roofing; and composite building panels	$	56,608	$	55,735
Home Improvement Retailers	Rain carrying systems, metal panels, roofing accessories, windows, doors and shower enclosures	34,395		30,086
Industrial and Architectural Contractors	Metal panels and siding and roofing accessories	33,221		33,862
Rural Contractors	Steel and aluminum roofing and siding	21,641		18,904
Distributors	Metal coils, rain carrying systems and roofing accessories	19,030		14,299
Home Improvement Contractors	Vinyl replacement windows; metal coils, rain carrying systems; metal roofing and insulated roofing panels; shower, patio and entrance doors; and awnings	11,302		9,145
Manufactured Housing	Steel siding and trim components	9,402		7,873
		$	185,599	$	169,904

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Commitments and Contingencies (Details) (USD $) In Thousands, unless otherwise specified	0 Months Ended	3 Months Ended
	Sep. 25, 1996 sites	Apr. 03, 2015	Mar. 28, 2014
Commitments and Contingencies Disclosure [Abstract]
Number of National Priorities List sites for which the Company is indemnified for substantially all costs related to specifically identified environmental matters	11
Number of National Priorities List sites for which the Company is indemnified for certain potential costs related to specifically identified environmental matters	9
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance, beginning of period		$ 3,970	$ 5,326
Payments made or service provided		(520)	(621)
Warranty expense		467	682
Foreign currency translation		(97)	2
Balance, end of period		$ 3,820	$ 5,389

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Operations and Significant Accounting Policies (Policies)

3 Months Ended

Apr. 03, 2015

Operations and Significant Accounting Policies [Abstract]

Trade and Other Accounts Receivable, Policy

Accounts receivable are comprised of trade accounts receivable and other receivables. Trade accounts receivable are recorded at net realizable value and totaled $86.8 million and $77.1 million as of April 3, 2015 and December 31, 2014, respectively. This value includes an allowance for estimated uncollectible accounts, returns and allowances, cash discounts and other adjustments. The allowance for doubtful accounts is based on historical experience, the level of past-due accounts based on the contractual terms of the receivables, current economic conditions and an evaluation of the customers' credit worthiness. Accounts receivable are charged against the allowance for doubtful accounts when it is probable that the receivable will not be recovered.