M.J. MAILLIS GROUP: 3^rd Quarter 2013 Financial Results

(for the period 01.01.2013 – 30.09.2013)

November 29, 2013. Athens, Greece The M.J. Maillis Group, a global leader in the field of secondary packaging listed on the Athens Exchange (ATHEX: MAIK), announces its results for the period from 1 January to 30 September 2013.

Highlights:

The Group turnover was negatively affected by the summer effect and the slowdown in the industrial activity as they were affected by the European economic recession. However, the improvement in the Gross Profit Margin and the tighter control on Operating Expenses resulted in keeping an increased operating EBITDA in the 9month period. Highlights of the performance in comparison to 9month period of 2012:

• Sales marginally decreased by 2.2%
• Gross Profit Margin increased by 1 percentage point
• Operating ΕΒΙΤDA increased by 8%

 Comparison with 3^rd quarter of 2012

For the above mentioned reasons, group Sales in the 3^rd quarter of 2013 decreased by 4.7% compared to the same period of 2012 while Gross Profit decreased by 2.3% which led to a decreased  EBITDA by €0.6 million.

Financial Performance:

Sales for the M. J. Maillis Group during the nine month period of 2013 reached €197.4 million, 2.2% lower compared to 2012, as a result of the decrease in the demand of durable goods following the European economic recession.

The gross margin at 20.0% was higher by 1 pp in comparison to previous year driven by an increase in gross profit margin and higher participation to the sales mix of packaging machines, products of higher profitability.  

Excluding one-off income and expenses as a result of exchange differences, as well as provisions and  restructuring costs, the operating EBITDA for the nine months of 2013 was 10.0 m€ (vs. operating EBITDA for 2012 of 9.3 m€) as besides the positive Gross Profit Margin effect, there was a reduction in operating expenses. Total EBITDA remained at the same level as in 2012 at 8.2 m€.

Net Losses before Tax at 11.8 m€ vs. 12.3 m€ in 2012 while Net Losses after tax were 16.1 m€ vs. 13.3 m€ in 2012 as a result higher deferred tax compared to 2012.

Outlook:

Until the end of current financial year, the Group's performance is expected to continue being affected by the slowdown in orders and weak Eurozone economies.  Considering that the Group continues to put emphasis on sales growth, further optimization of production costs and the control of expenses, sufficient liquidity will be achieved.

In parallel, negotiations with major suppliers are in progress based on the satisfactory performance of the Group, despite the adverse conditions, in order the credit terms to be improved, which will ensure the supply of the necessary raw materials for further increase of sales.

About the M.J. Maillis Group

The M.J. Maillis Group is a leader in secondary packaging providing its clients globally with complete, high technology and cost effective packaging solutions (one-stop-shopping) that combine packaging equipment, packaging materials, service and support. The Group maintains physical presence in 18 countries in Europe and North America, while its products are sold in more than 80 countries worldwide. The Group's customer base extends to the food and beverage, aluminium, steel, construction, timber and bailing industries and it is the exclusive or preferred global supplier to an increasing number of major industrial and consumer products multinationals such as US Steel, Nestlé, Coca-Cola, P&G, Henkel, Pepsi, Mars, Lafarge, ArcelorMittal, Tata, Walmart, etc. The shares of the M.J. Maillis Group are listed on the Athens Stock Exchange under the ticker symbol "MAIK".

For more information please contact:

Company Contact:

Group's Investor Relations Department

Tel. +30-210-6285-000

E-mail investor.relations@maillis.gr