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23 NOVEMBER 2017

NINE MONTHS OF 2017 TRADING UPDATE

IMPROVING SALES BY 6.3%
EBIT UP BY 6.6%
ON TRACK TO MEET GUIDANCE

The Group’s Nine Months of 2017 financial figures were in line with management’s expectations and therefore the Group is on track to meet its targets for the year 2017.

Against a relatively strong base period, the Group delivered a 6.29% growth in total turnover, supported by the strength of the Group’s brands, increased penetration in the Group’s distribution channels and excellent commercial execution.

The Group’s total turnover reached € 255.01 million in 9M 2017 from 239.92 million in 9M 2016.

Greece was up by 6.46% in the 9M 2017 settling at € 95.69 million versus 89.88 million in the respective period last year.

The foreign countries exhibited growth of 6.18% reaching € 159.32 million in 9M 2017 from € 150.04 million.

Moreover, EBITDA was up by 7.71% to € 27.40 mil. from € 25.44 mil, with an EBITDA margin of 10.74% from 10.60% in 9Μ 2016.

Earnings Before Interest and Tax (EBIT) reached € 23.66 mil. increased by 6.58% versus €22.20 mil. and EBIT margin rose to 9.28% from 9.25% in 9Μ 2016.

Looking forward the Group will stay focused on targeted investments behind product development, creating synergies and increasing the Group’s scale with the aim to accelerate top line growth across all business units and geographies and further improve profit margins, ultimately increasing further the Group’s footprint in the region.

It is noted that the Group will report the Full Year 2017 Consolidated Financial Results together with the 2017 Financial Report as per L. 3556/2007 and L. 4374/2016.