The Group of KLEEMANN presented profitability and increase in its turnover in the fiscal year 2011 and was recently rated by ICAP GROUP and classified as one of the "Strongest Companies in Greece".

More specifically, based on the ICAP score, KLEEMANN HELLAS S.A. is ranked amongst a group of companies with the lowest credit risk in Greece. The ICAP Group is recognized by the Bank of Greece as an External Organization of Credit Ratings and by the European Central Bank as an Acceptable Source of Credit Ratings and from the Hellenic Capital Market Commission Market Authority-ESMA as a Credit Rating Agency.

Regarding financial figures, turnover of the Group amounted to 91,2 mln euros showing an increase of 0,3% compared to the previous fiscal year. Despite the losses incurred in the Greek market, the Group managed to achieve increased sales through the strengthening of its presence in the international market, raising the percentage of exports in the total turnover to 68,0% from 55,3% in 2010.

Moreover, the company succeeded in further increasing the geographic dispersion of its clientele and specifically was active in 75 countries as compared to 63 in 2010 and 57 in 2009 (increase of 31,6% compared to 2009). Simultaneously, it increased the number of its clients by 42% compared to 2010, when the respective increase compared to 2009 was 37%. Approximately 17% of the value of exports in 2011 came from new clients.

The Group's gross margin in 2011 amounts to 30,6% reduced in comparison with the relative last year period where it was 33,8%. This reduction is due to higher raw material prices, as well as the intensification of efforts to penetrate developing new markets. Similarly affected is the net profit margin, while it also includes high provisions for doubtful debtors amounting to 3,5 mln euros. Also, it is aggravated by one-off administrative expenses – attributed to growth, training and support issues of the new subsidiaries in China and the United Kingdom.

As a result, the consolidated profit before tax in the examined period amounted to 2,4 mln euros, from 5,8 mln euros reduced by 58,6% in comparison with 2010. Earnings before interest, tax and amortization (EBITDA) totaled 6.1 mln euros, compared to 8,9 mln euros in 2010, reduced by 32,4%, while Profit after tax and non controlling interests amounted to 0,1 mln euros, from 2,3 mln euros in 2010.

For the fiscal year 2011, the Board of Directors does not intend to propose the distribution of dividend to the annual General Meeting. As regards 2012, penetrating new markets will continue to be the Group's main objective, in order to balance the losses of the domestic market, as it successfully achieved in 2011.

"KLEEMANN's response to the crisis is extraversion and the geographical dispersion of its clientele. In the context of this strategy, we aim to further enhance our presence in countries where we are already active, develop new bases through the founding of subsidiaries, as well as to open new markets all over the world", states KLEEMANN's management.