Kilkis,June 11, 2014

PRESS RELEASE

Annual General Meeting of the shareholders of Kleemann

The Annual General Meeting of the Shareholders of Kleemann was held today, in which the annual financial statements of the Group and the Company for the year 2013 were approved as well as the reports of the Board of Directors and the Reports of the Auditors for the fiscal year.
In the General Meeting,73.93% of the shareholders(or 17,484,648 shares) of the Company were represented. The Chairman of Kleemann Mr. Nikolaos K. Koukountzos referred to the activities that took place during the fiscal year 2013 and also to the satisfactory results the Group presented, having achieved its objectives.
More specifically, the Group increased its profit before tax to 5.6 mln € from 2.5 mln€ and also improved its performance, both in turnover and in terms of margins.
The Group's globalization strategy and extraversion in recent years resulted in the Group being present in more than 92 countries by the end of 2013 and its international sales being higher by 8% compared to last year. Moreover, international sales now amount to 82% of the consolidated turnover from 78% in 2012.
More specifically, the consolidated turnover amounted to 94.8 mln € from 92.3 mln € in 2012, increased by 2.7%. The gross profit margin amounted to 34.4% from 31.0% the previous year. The improvement is due to the continuous actions implemented regarding the reduction of raw material costs, the increase of productivity as well as the continuous extrovert presence internationally.Finally, the Group's EBITDA amounted to 9.0 mln € from 5.7 mln € in 2012.
Furthermore, the Group has an excellent capital structure, with cash flow from operating activities being positive and amounting to 11.9 mln €. As a result, cash available are higher than loans, and thus net bank loans amount to -4.9 mln €, an achievement which highlights the Group's financial self-reliance. Moreover, total bank loans are reduced by 6.6 mln € compared to the end of 2012. The Group's equity is nearly double compared to its liabilities with the equity to debt ratio amounting to 1.96, which reflects the Group's limited exposure, its healthy financial state and ensures its unhindered operational growth in the future.
The General Meeting also decided to increase the share capital through capitalization of part of the share premium amounting to approximately 3.1mln€, increasing the nominal value of its share by 0.13€. At the same time, it was decided to reduce the share capital byreturning cash to the shareholders of approximately 2.6 mln€, thus reducing the nominal value by 0.11 €.
After the completion of the meeting Mr. Koukountzos said:
"Our company continues on the course it has set over the years and moving to its further growth. 2013 was a good year, and in 2014 we aim for it to be even better. Our company is innovating in the design and technology of its products, as well as in the services offered to its customers. These are the main pillars of the company and ensure its future growth."