Four Months of 2019 trading update

The Group’s total turnover reached € 111.49 million in the period from January 1st till April 30th of 2019 from 101.36 million in the respective period of 2018, up by 10.00%, supported predominantly by the Group’s Foreign Countries.

The foreign countries that contribute 66.11% in the Group’s turnover, exhibited growth of 17.85% reaching €73.71 million in the four months of 2019 from €62.54 million in the respective period of 2018.

Greek sales amounted to €37.78 million in the period Jan-April of 2019 compared to €38.81 mil. in the respective period last year, reduced by 2.66%. It is noted that Greek sales were supported largely by April’s performance due to Easter timing.

Regarding profitability, during the Jan-April of 2019 period EBITDA* was up by 19.20% to € 12.88 mil. from € 10.81 mil, with an EBITDA margin of 11.55% from 10.66% in the respective last year period.

Earnings Before Interest and Tax (EBIT) reached € 9.38 mil. in the period Jan-Apr of 2019 up by 8.23% versus €8.67 mil. and EBIT margin reached 8.41% from 8.55% in the respective period of 2018.

It is noted that EBITDA is adjusted based on the adoption of the IFRS 16 “Leases”.

The standard affects the accounting treatment of the Group’s and the Company’s operating leases and concerns mainly cars and buildings.

The Group and the Company have applied the simplified transition method and have not restated the comparative figures for the previous year.

*Alternative Performance Measures, as defined within the relevant paragraph of the Group’s Financial Report.

The management is confident in the Group’s dynamic future. The consumer oriented, product-centric business model which focuses on product quality, commercial excellence, cost efficiencies, synergies and operational leverage will drive significant profitable growth.

The Group follows its investment plan in order to further increase its footprint in the existing region as well as the new territory where the Group has recently penetrated. At the same time, the management is consistent behind its strategy in order to identify further opportunities for both organic and acquisitive growth, which will bring accelerated top line growth and further improvement on profit margins.