CONSOLIDATED FINANCIAL RESULTS FULL YEAR 2015

DOUBLE-DIGIT TURNOVER AND EARNINGS PER SHARE GROWTH
ON TRACK BEHIND ITS GROWTH PLAN
NET CASH POSITION MAINTAINED

Successful execution of its business plan and further enhancement of its robust financial position characterize Sarantis Group performance throughout 2015, despite the challenging operating environment.

The Group continues to deliver double digit growth in turnover and across all profitability lines, exceeding the management’s estimates. Margins improved, net cash position was maintained and operating working capital was enhanced, demonstrating the Group’s consistency and success behind its strategic decisions.

Consolidated Full Year of 2015 turnover amounted to € 278.76 million versus € 248.44 million last year, up by 12.21%, driven by new additions in the Group’s brand portfolio as well as organic growth.

Significant growth was observed both in Greece and in the foreign operations of the Group.

Greece, outpacing the market, exhibited a remarkable growth of 15.33%, settling at € 102.56 million, which corresponds to 36.79% of the total Group’s turnover.

The foreign countries, which represent 63.21% of the Group’s total turnover, increased by 10.46% to €176.20 million from € 159.51 million last year.

In an effort to increase its market shares and maintain its competitive advantage, the Group has adopted, amongst other measures, a more intense policy of trade allowances towards its clients and ultimately the consumer. As a result, the Group’s gross margin reached 47.53% compared to 48.55% last year.

Nevertheless, the Group’s increased sales combined with the efficient management of operational expenses lead to higher than expected profitability.

Specifically the Reported Figures:

• EBITDA was up by 16.07% to € 29.77 mil. from €25.64 mil, with an EBITDA margin of 10.68% from 10.32% in FY 2014.
• Earnings Before Interest and Tax (EBIT) reached € 26.04 mil. increased by 18.12% versus €22.05 mil. and EBIT margin rose to 9.34% from 8.87% in FY 2014.
• Earnings Before Tax (EBT) increased by 12.44% to €24.16 mil. from €21.49 mil. with the EBT margin reaching 8.67% from 8.65% last year.
• Net Profit was up by 15.39% to €19.78 mil. from €17.14 mil. in the previous year, while Net Profit margin settled at 7.10% from 6.90% in FY 2014.
• Earnings Per Share (EPS) settled at €0.5689 from €0.4930 in FY 2014.

On the balance sheet front, exhibiting its healthy financial position, Sarantis Group is able to invest behind initiatives to accelerate growth and return value to its shareholders.

Throughout 2015 the Group paid a dividend for FY 2014 of approximately €5.15 mil. and completed two acquisitions, namely the AVA brand in Greece of c. €3.5 mil. and the Polish company POLIPAK of € 4.5 mil.

Following these activities, as of the end of 2015 the Group maintains a net cash position of €7.20 mil. Moreover, operating working capital requirements over sales has improved further predominantly as a result of tighter credit control.

In 2015, despite the difficulties in the business environment, the Group has successfully managed to drive profitable, over-market growth across all business units and geographies.

As always the Group’s efforts are focused on its basic strategic pillars of growth, that is, the renewal and enrichment of its brand portfolio in all the Group’s countries and value adding acquisitions able to provide high returns and synergies.

Looking forward to 2016 and beyond, while the challenges remain, the Group is moving in the right direction, positioned to gain further market share, identify areas that can benefit the Group further and exploit growth opportunities.

Consistent with its yearly schedule, the Sarantis Group management will publish its FY 2016 guidance on Wednesday, March 16th 2016 during the Group’s annual presentation at the Hellenic Fund and Asset Management Association.

Moreover, the Board of Directors of the Company will propose during the Annual Shareholders Meeting a dividend of € 0.16 euro per share, reflecting the managements’ confidence in the Group’s future.