The half-year period of 2013 closed with profitability and significantly improved figures for the Group of KLEEMANN.

The Group in the six month period of 2013 presents improved performance in its gross margin compared to the same period of 2012 (34% versus 29%), due to the continuous actions implemented regarding the reduction of costs of raw materials, the increase of productivity as well as the reduction of production expenses. As a result, the Group's EBITDA amounted to € 2.7 mln from € 0.8 mln in the first half of 2012 and profits before tax to € 1.1 mln from loss € -0,6 mln respectively. Finally, profit after taxes and non-controlling interest amounted to € 0.4 mln from loss of € -1.6 mln last year

The Group's turnover for the half year period amounted to € 37.6 mln from € 38.2 mln (-1,6%), while in the second quarter it amounted to € 22.9 mln from € 21.2 mln in the same period of 2012, increased by 8.4%.

International sales of the Group which now account for 80% of its turnover, are increased by 7% compared to the same period in the previous year, while during the period 2009-2012 international sales have increased by approximately 50%, as the Group now operates in 90 countries. Meanwhile, the two new production units in China and Serbia have started their production activity, thus increasing the Group's capacity. The two production units manufacture elevator parts and operate complementary to the main production facilities that are located in Greece.

Additionally, the ratio of total equity to liabilities is very high and amounts to 1.87, while the Group managed to renew most of its bank loans for a 5 year period. Due to the positive operating cash flows of the period, cash available is now higher than bank loans, with net debt amounting to € -0.2 mln from € 2.7 mln on 31/12/12 and € 13.4 mln on 31/12/11. This performance confirms the financial self-sustainability of the Group as well as its healthy financial state and ensures its unhindered operation and future growth.

The main objective for the second half of 2013 will be the intensification of efforts to utilize the two new production units, the penetration of even more new foreign markets, and the improvement of its performance in existing markets. Regarding the financial figures of 2013, the management expects that the second half will be, as is traditionally happens, better than the first, while cash will continue to be at high levels.

The effective management of the Group, the capital adequacy and the extroverted strategy guarantee the continuation of its growth. The half-year period of 2013 closed with profitability and significantly improved figures for the Group of Kleemann.