April 24^th, 2019

PRESS RELEASE: FINANCIAL RESULTS 2018

MLS Innovation Inc: € 20.9 million revenue, € 1.6 million earnings after taxes for 2018

Revenue for MLS Innovation Inc. totaled € 20.9 million in 2018 with earnings after taxes coming in at € 1.6 million. Earnings before interest, taxes and depreciation (EBITDA) amounted to € 5.3 million in 2018 (compared with € 5.6 million last year), while Earnings per share were calculated at € 0.1327.

Cash and cash equivalents totaled € 5.9 million and the net position stood at € 25.8 million.

MLS is expanding its activities abroad emphasizing in the Balkan markets (starting with Serbia, Cyprus and Bulgaria) adapting the product categories Easy™, Smartphones και Tablets to the local language of each country.

At the same time, the company announced the completion of the new European Platform of Artificial Intelligence and Voice Recognition (European MAIC ™). MLS has been preparing the platform for the past 2 and a half years and is the largest and most important project implemented by the company in its 30-year history.

Similar smart digital assistants are already present in almost 100 million households in the USA. Since the launch of Amazon's Alexa™ in 2015 until today, the new generation of smart digital assistants has drastically improved Americans' everyday life. The European MAIC™ is being developed in multiple European languages, it is adapted in the culture, music, habits and traditions of each country. The new platform places MLS in one of the hottest fields in technology today that will probably improve drastically the daily lives of us all in the years to come.

Commenting on the financial results of 2018 the President and CEO of MLS Mr. John Kamatakis stated: "MLS is re-entering a new phase of growth and extroversion. As a result, we expect double digit growth rates in the three forthcoming years 2019-2021, with sales from foreign markets accounting for a two-digit percentage of the total."

About MLS Innovation Inc.

MLS Innovation Inc. was founded in 1989 with the aim of developing and delivering innovative technologies that simplify everyday life (Making Life Simple). In 1998, MLS won the European Union Grand IT Prize Award for Laserlock™, a patent that prevented the copying of Software CD-ROMs and was already sold in more than 40 countries. The company continued to innovate by offering the first Greek CD-ROM, the first Greek Electronic Encyclopedia and the first Talk & Write™ and Translation Software (MLS Systran™). In the 2000s, it entered the electronics market, developed and launched the first portable navigation device with built-in Voice Recognition, MLS Destinator Talk & Drive™. The device reached the windshield of hundreds of thousands of cars in Greece as well as in seven other countries. In the decade of 2010, the company launched the development of Smartphones and Tablets, using the technologies of voice recognition and artificial intelligence to reach hundreds of thousands of Greeks each year. MLS recently added MLS Easy™ to its innovative products. It is a mobile phone with buttons and touchscreen, 4G, with a very easy operating system where everything is done with the voice. It is aimed at 1/3 of Europeans who still have mobile phones with buttons. The company operates in 4 countries since 2018 and plans to expand to 3 more countries.

For more information visit:
https://maic.gr/
https://www.mlsinnovation.com/
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