Increased Turnover and Profitability for the Group of KLEEMANN for the 6-month Period 2014

Kilkis, August 28, 2014

The half year period of 2014 closed with profitability and improved figures for the Group of KLEEMANN compared to the corresponding last year period.

The Group's turnover for the six month period amounted to 40,3 mln euros from 37,6 mln euros, increased by 7,2%, while profit before tax also increased by 7,2% to 1,15 mln euros from 1,07 mln euros in the corresponding period of 2013.

The consolidated gross margin compared to the corresponding period of 2013 was 35,1% from 33,9%, while the results were affected by provisions for doubtful debtors amounting to 2,1 mln euros from 1,5 mln euros in the corresponding period last year. As a result, the Group's EBITDA amounted to 2,69 mln euros from 2,73 mln euros in the corresponding period of 2013. Finally, the profit after tax and non-controlling rights amounted to 0,3 mln euros from 0,4 mln euros in the prior year corresponding period.

International sales of the Group which now account for 85% of its turnover, are increased by 14% compared to the same period in the previous year, while sales during the last four years - from 2009 to 2013 - have increased by approximately 61%, with the Group now operating in more than 90 countries.

In addition, the ratio of total equity to liabilities is very high and amounts to 1,84. The Group's capital structure is healthy, with cash flows from operating activities amounting to 10,2 mln euros from 4,0 mln euros in the corresponding period of 2013, and as a result net debt amounted to -10,8 mln euros from -4,9 mln euros on 31/12/13. This performance confirms the financial self-sustainability of the Group as well as its healthy financial state while it ensures its unhindered operation and future growth. According the decision of the Annual General Meeting, the company increased its share capital through capitalization of part of the share premium amounting approximately 3,1 mln euros, and simultaneously reduced the share capital approximately by 2,6 mln euros, which was paid on the 6th of August, 2014.

Based on the increased order intake, the Management expects improved figures for the rest of the year, as well as maintaining the Group's high profitability.