INCREASED PROFIT & TURNOVER FOR KLEEMANN GROUP

KLEEMANN Group in 2014 increased its profit before tax, which amounted to 6,3 mln €, from 5,6 mln € in 2013, and also achieved improved performance both in terms of margins and turnover.

The Group's globalization strategy and extraversion in recent years resulted in the Group being present in 98 countries by the end of 2014 and its international sales now amount to 89% of the consolidated turnover.

More specifically, the consolidated turnover amounted to 98,0 mln € from 94,8 mln € in 2013, increased by 3,3%. The gross profit margin amounted to 35,0% from 34,4% the previous year, while the Group EBITDA amounted to 9,5 mln € from 9,0 mln € in 2013. It should be noted that additional provisions for doubtful debts amounting to 3,3 mln € have been included in the results of the Group. These provisions are based upon the prudent policy of the Group and mainly are due to old customers of the Greek market which were affected by the financial crisis. As a result, the profit margin before tax is 6.5%, increased from 5.9% in the previous year, while its profit after tax and non-controlling interest amounted to 3,7 mln € from 0,9 mln € in the previous year.

Furthermore, the Group has an excellent capital structure, with a positive cash flow from operating activities amounting to 19,5 mln €. As a result, cash available are higher than loans by approximately 10 mln € from 5 mln € in the previous year, an achievement which highlights the Group's financial self-reliance. Moreover, total bank loans are reduced by 4,1 mln € compared to the end of 2013. The Group's equity is nearly double compared to its liabilities with the equity to debt ratio amounting to 2,03, which reflects the Group's limited exposure and its healthy financial state and ensures its unhindered operational growth in the future.

Finally, it is noted that the recent Extraordinary General Meeting of 4 February 2015 decided the return of capital to its shareholders of 4.020.279,00 € (0,17 € per share) with a simultaneous capitalization of share premium for the same amount. The payment will take place on 7 April 2015.

The Management expects that the group's performance will continue improving in 2015 and maintain its healthy liquidity, while having as a key pillar the ongoing effort to expand its activities internationally and the penetration of markets which present growth prospects.